XML 15 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 23,577 $ 24,744 $ 47,382 $ 48,843
Taxable securities 2,511 1,278 4,230 2,825
Tax exempt securities 2,342 1,953 4,416 3,735
Dividends 121 137 242 277
Federal funds sold and other interest income 58 30 129 179
TOTAL INTEREST AND DIVIDEND INCOME 28,609 28,142 56,399 55,859
INTEREST EXPENSE        
Deposits 1,829 3,860 4,055 8,499
Short-term borrowings 3 18 7 338
Long-term borrowings 287 343 580 799
TOTAL INTEREST EXPENSE 2,119 4,221 4,642 9,636
NET INTEREST INCOME 26,490 23,921 51,757 46,223
Provision for credit losses 50 2,400 475 3,500
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 26,440 21,521 51,282 42,723
NONINTEREST INCOME        
Bank owned life insurance income 300 204 584 412
Security gains (losses), including fair value changes for equity securities 32 (26) 520 131
Net gains on sale of loans 2,500 3,658 5,685 5,024
Other operating income 806 335 1,479 985
TOTAL NONINTEREST INCOME 9,872 9,136 20,455 17,006
NONINTEREST EXPENSES        
Salaries and employee benefits 9,866 9,713 19,842 19,944
Occupancy and equipment 1,890 1,675 4,165 3,475
State and local taxes 551 583 1,105 1,047
Professional fees 830 823 1,886 1,639
Merger related costs 104 48 116 1,367
Advertising 196 322 456 593
FDIC insurance 120 225 290 450
Intangible amortization 316 331 632 663
Core processing charges 831 934 1,458 1,795
Telephone and data 139 348 277 551
Other operating expenses 2,591 2,738 4,975 4,953
TOTAL NONINTEREST EXPENSES 17,434 17,740 35,202 36,477
INCOME BEFORE INCOME TAXES 18,878 12,917 36,535 23,252
INCOME TAXES 3,303 1,906 6,404 3,602
NET INCOME $ 15,575 $ 11,011 $ 30,131 $ 19,650
EARNINGS PER SHARE - basic $ 0.55 $ 0.39 $ 1.07 $ 0.69
EARNINGS PER SHARE - fully diluted $ 0.55 $ 0.39 $ 1.06 $ 0.69
Service Charges on Deposit Accounts        
NONINTEREST INCOME        
Noninterest income $ 790 $ 753 $ 1,598 $ 1,848
Trust Fees        
NONINTEREST INCOME        
Noninterest income 2,358 1,852 4,594 3,709
Insurance Agency Commissions        
NONINTEREST INCOME        
Noninterest income 948 681 1,949 1,564
Retirement Plan Consulting Fees        
NONINTEREST INCOME        
Noninterest income 389 408 709 788
Investment Commissions        
NONINTEREST INCOME        
Noninterest income 523 304 1,027 727
Debit Card and EFT Fees        
NONINTEREST INCOME        
Noninterest income $ 1,226 $ 967 $ 2,310 $ 1,818