XML 14 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income:        
Interest and fees on loans $ 20,211 $ 20,521 $ 61,502 $ 60,988
Interest and dividends on investments 170 260 552 797
Interest on deposits with banks 199 92 453 1,088
Total interest income 20,580 20,873 62,507 62,873
Interest expense:        
Interest on deposits 2,356 4,165 7,654 14,375
Interest on borrowings 743 1,268 2,482 2,968
Total interest expense 3,099 5,433 10,136 17,343
Net interest income 17,481 15,440 52,371 45,530
Provision for loan losses 0 2,400 500 5,796
Net interest income after provision for loan losses 17,481 13,040 51,871 39,734
Non-interest income        
Service fees on deposit accounts 1,350 520 4,173 1,602
Gain on sale of SBA loans 56 0 180 0
Other loan fees 403 206 998 612
Bank owned life insurance income 146 150 429 443
Net gain (loss) on sale and valuation adjustment of OREO 0 (195) 51 (348)
Other 240 60 693 346
Total non-interest income 2,195 741 6,524 2,655
Non-interest expense        
Compensation and benefits 2,281 2,440 7,360 7,674
Professional services 998 400 2,740 1,151
Occupancy and equipment 623 531 1,773 1,529
Data processing 303 344 986 969
FDIC insurance and other assessments 261 287 833 581
OREO expense 72 80 199 258
Other operating expense 890 750 3,026 2,401
Total non-interest expense 5,428 4,832 16,917 14,563
Income before income tax expense 14,248 8,949 41,478 27,826
Income tax expense 3,705 2,306 10,584 7,171
Net income attributable to Company and noncontrolling interest 10,543 6,643 30,894 20,655
Less: Net income attributable to noncontrolling interest (42) (100) (207) (359)
Net income attributable to Company 10,501 6,543 30,687 20,296
Less: Preferred stock dividend (7) (7) (21) (22)
Net income available to common shareholders $ 10,494 $ 6,536 $ 30,666 $ 20,274
Earnings per common share        
Basic (in dollars per share) $ 0.88 $ 0.55 $ 2.58 $ 1.71
Diluted (in dollars per share) $ 0.87 $ 0.55 $ 2.53 $ 1.69
Weighted average common shares outstanding        
Basic (in shares) 11,893,323 11,850,882 11,885,709 11,849,659
Diluted (in shares) 12,125,628 11,975,094 12,115,389 11,986,964