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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Interest income    
Loans, including fees $ 55,550 $ 50,278
Deposits with other banks and short term investments 438 1,288
Investment securities 7,137 8,917
Total interest income 63,125 60,483
Interest expense    
Deposits 5,599 10,050
Federal Home Loan Bank advances 743 1,046
Paycheck Protection Program Liquidity Facility 205 0
Other borrowings 1,333 1,541
Total interest expense 7,880 12,637
Net interest income 55,245 47,845
Provision for loan losses 6,558 1,104
Net interest income after provision for loan losses 48,687 46,741
Noninterest income    
Gain on sale of SBA loans 1,600 0
Gain on sale of securities 926 97
Gain on sale of assets 1,082 0
BOLI income 743 536
Other 463 811
Total noninterest income 24,244 14,004
Noninterest expenses    
Salaries and employee benefits 34,141 26,218
Occupancy and equipment 5,311 4,850
Acquisition related expenses 862 2,733
Information technology expense 5,746 4,353
Professional fees 2,250 2,191
Advertising and public relations 2,111 1,991
Communications 835 1,083
Writedown of building 582 0
FHLB prepayment penalty 925 0
Other 5,538 4,717
Total noninterest expense 58,301 48,136
Income before income taxes 14,630 12,609
Income taxes 2,815 2,398
Net income $ 11,815 $ 10,211
Net income per share of common stock    
Basic (in dollars per share) $ 1.24 $ 1.12
Diluted (in dollars per share) 1.24 1.12
Cash dividends declared per share of common stock (in dollars per share) $ 0.40 $ 0.30
Weighted average shares outstanding, basic (in shares) 9,498,783 9,129,705
Weighted average shares outstanding, diluted (in shares) 9,498,783 9,129,705
Mortgage Banking    
Noninterest income    
Non interest revenue from banking services $ 5,293 $ 5,593
Bank Servicing    
Noninterest income    
Non interest revenue from banking services 9,149 3,199
Credit Card    
Noninterest income    
Non interest revenue from banking services $ 4,988 $ 3,768