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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 20,180 $ 16,038 $ 39,215 $ 31,706
Securities:        
Taxable 1,194 1,028 2,478 1,999
Tax-exempt 120 38 212 82
Dividends 55 81 145 175
Other 36 270 444 378
Total Interest Income 21,585 17,455 42,494 34,340
INTEREST EXPENSE        
Deposits 2,747 1,971 5,668 3,656
Short-term borrowings 14 21 29 52
Long-term borrowings 479 493 997 997
Total Interest Expense 3,240 2,485 6,694 4,705
Net Interest Income 18,345 14,970 35,800 29,635
PROVISION FOR LOAN LOSSES 2,550 125 6,550 275
Net Interest Income after Provision for Loan Losses 15,795 14,845 29,250 29,360
OTHER INCOME        
Commissions from insurance sales 1,617 1,914 3,057 3,234
Earnings on investment in bank-owned life insurance 378 309 725 573
Net gains (losses) on equity securities 74 129 (401) 162
Other 812 289 1,370 544
Total Other Income 4,893 4,820 9,059 8,760
OTHER EXPENSES        
Salaries and employee benefits 8,605 7,189 17,106 14,154
Net occupancy 871 734 1,852 1,597
Equipment 1,471 1,219 2,755 2,322
Other tax 319 274 646 536
Professional services 254 283 656 483
Supplies and postage 200 178 409 384
Marketing and corporate relations 157 171 341 310
FDIC and regulatory 145 160 186 329
Merger related expenses 0 0 5,965 0
Intangible assets amortization 323 158 638 313
Foreclosed real estate income (168) (3) (93) (56)
Other operating 1,278 1,322 2,451 2,574
Total Other Expenses 13,455 11,685 32,912 22,946
Income before Income Taxes 7,233 7,980 5,397 15,174
PROVISION FOR INCOME TAXES 1,436 1,514 823 2,844
Net Income $ 5,797 $ 6,466 $ 4,574 $ 12,330
PER SHARE DATA        
Basic earnings (in dollars per share) $ 0.67 $ 0.92 $ 0.53 $ 1.75
Cash dividends declared (in dollars per share) $ 0.25 $ 0.25 $ 0.50 $ 0.48
Service charges on deposit accounts        
OTHER INCOME        
Revenue from contract with customer, excluding assessed tax $ 643 $ 946 $ 1,633 $ 1,884
Income from fiduciary, investment management and brokerage activities        
OTHER INCOME        
Revenue from contract with customer, excluding assessed tax 655 598 1,323 1,190
Service charges on ATM and debit card transactions        
OTHER INCOME        
Revenue from contract with customer, excluding assessed tax $ 714 $ 635 $ 1,352 $ 1,173