XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Interest and dividend income    
Loans, including fees $ 50,467,000 $ 60,568,000
Securities 854,000 2,082,000
Other 1,554,000 2,758,000
Total interest income 52,875,000 65,408,000
Interest expense    
Deposits 6,988,000 13,128,000
Borrowings 0 89,000
Total interest expense 6,988,000 13,217,000
Net interest income 45,887,000 52,191,000
Provision for loan losses 55,000 3,825,000
Net interest income after provision for loan losses 45,832,000 48,366,000
Noninterest income    
Deposit service charges and fees 3,196,000 3,844,000
Loan servicing fees [1] 552,000 451,000
Mortgage brokerage and banking fees [1] 98,000 149,000
Gain on sale of equity securities [1] 0 295,000
Loss on disposal of other assets (5,000) (44,000)
Trust and insurance commissions and annuities income 961,000 844,000
Earnings on bank-owned life insurance [1] 70,000 136,000
Other [1] 494,000 497,000
Total noninterest income 5,366,000 6,172,000
Noninterest expense    
Compensation and benefits 21,323,000 21,266,000
Office occupancy and equipment 7,361,000 7,075,000
Advertising and public relations 564,000 657,000
Information technology 3,194,000 3,272,000
Professional fees 1,356,000 1,307,000
Supplies, telephone, and postage 1,232,000 1,328,000
Amortization of intangibles 34,000 61,000
Nonperforming asset management 146,000 105,000
Operations of other real estate owned 17,000 52,000
FDIC insurance premiums 348,000 127,000
Other 2,863,000 3,391,000
Total noninterest expense 38,438,000 38,641,000
Income before income taxes 12,760,000 15,897,000
Income tax expense 3,597,000 4,225,000
Net income $ 9,163,000 $ 11,672,000
Basic and diluted earnings per common share (in dollars per share) $ 0.61 $ 0.75
Basic and diluted weighted average common shares outstanding (in shares) 14,951,656 15,594,883
[1] Not within the scope of ASC 606