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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest income    
Loans, including fees $ 13,573 $ 13,290
Investment securities 1,750 1,994
Federal funds sold, deposits with other banks and short term investments 53 284
Total interest income 15,376 15,568
Interest expense    
Deposits 654 2,218
Federal Home Loan Bank Advances 114 257
Paycheck Protection Program Liquidity Facility 68 0
Other borrowings 257 389
Total interest expense 1,093 2,864
Net interest income 14,283 12,704
Provision for loan losses 500 1,956
Net interest income after provision for loan losses 13,783 10,748
Noninterest income    
Gain on sale of SBA loans 1,471 210
(Loss) gain on sale of securities (4) 293
BOLI Income 208 151
Other 154 78
Total noninterest income 8,576 4,526
Noninterest expense    
Salaries and employee benefits 9,955 7,498
Occupancy and equipment 1,326 1,318
Acquisition related expenses 176 287
Information technology expenses 1,592 1,316
Professional fees 486 347
Advertising and public relations 580 634
Communications 218 191
FHLB prepayment penalty 0 276
Other 1,449 1,476
Noninterest Expenses 15,782 13,343
Income before income taxes 6,577 1,931
Income taxes 1,658 328
Net income $ 4,919 $ 1,603
Earnings per common share:    
Basic (in dollars per share) $ 0.52 $ 0.17
Diluted (in dollars per share) 0.52 0.17
Dividends declared per share (in dollars per share) $ 0.1025 $ 0.10
Weighted average number of common shares    
Weighted average basic shares outstanding (in shares) 9,498,783 9,498,783
Weighted average diluted shares outstanding (in shares) 9,498,783 9,498,783
Service charges on deposits    
Noninterest income    
Noninterest income $ 1,222 $ 1,499
Mortgage fee income    
Noninterest income    
Noninterest income 3,995 1,262
Interchange fees    
Noninterest income    
Noninterest income $ 1,530 $ 1,033