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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Interest income:    
Loans, including fees $ 56,298 $ 41,838
Taxable securities 4,888 4,685
Tax-exempt securities 1,977 1,458
Federal funds sold 16 227
Other interest income 228 619
Total interest income 63,407 48,827
Interest expense:    
Deposits 6,768 6,878
Securities sold under agreements to repurchase 16 46
Federal Home Loan Bank advances   29
Federal funds purchased   1
Note payable 1,348 1,546
Total interest expense 8,132 8,500
Net interest income 55,275 40,327
Provision for loan losses 8,615 2,910
Net interest income after provision for loan losses 46,660 37,417
Noninterest income:    
Service charges and fees 5,038 4,822
Investment brokerage revenue 184 99
Mortgage operations 5,284 3,347
Bank owned life insurance income 792 652
Net gains (losses) on sales of investment securities 87 (9)
Other noninterest income 420 1,075
Total noninterest income 11,805 9,986
Noninterest expense:    
Salaries and employee benefits 22,127 17,748
Occupancy expenses 2,327 1,958
Equipment rentals, depreciation, and maintenance 1,152 1,027
Telephone and communications 543 371
Advertising and business development 549 659
Data processing 2,788 4,140
Foreclosed assets, net 234 166
Federal deposit insurance and other regulatory assessments 829 163
Legal and other professional services 762 1,013
Other operating expense 5,469 5,574
Total noninterest expense 36,780 32,819
Income before income taxes 21,685 14,584
Provision for income taxes 4,595 3,470
Net income $ 17,090 $ 11,114
Basic net earnings per common share $ 2.63 $ 1.91
Diluted net earnings per common share $ 2.60 $ 1.88