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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Interest and Dividend Income:      
Loans, including fees $ 58,245 $ 57,840 $ 52,840
Taxable securities 5,265 4,804 5,503
Tax exempt securities 1,152 1,153 1,149
Interest-earning deposits 2,270 756 563
Total interest and dividend income 66,932 64,553 60,055
Interest Expense:      
Deposits 6,173 3,323 2,168
Securities sold under agreements to repurchase 0 137 478
Borrowed funds 148 613 422
Total interest expense 6,321 4,073 3,068
Net interest income 60,611 60,480 56,987
Provision for loan losses 5,945 3,153 9,022
Net interest income after provision for loan losses 54,666 57,327 47,965
Non-Interest Income:      
Net gains on securities transactions 19 0 109
Change in fair value of equity investments 81 2,004 80
Net gain on sales of loans held for sale 248 351 260
Net gains (losses) on sales of other real estate owned (99) 90 38
Income from bank owned life insurance 63 66 70
Other 1,694 2,479 2,408
Total non-interest income 20,073 23,074 20,491
Non-Interest Expenses:      
Salaries and wages 23,420 22,322 21,476
Pension and other employee benefits 5,902 5,524 5,510
Other components of net periodic pension cost (benefit) (541) (770) (1,234)
Net occupancy expenses 5,969 6,550 6,263
Furniture and equipment expenses 2,497 2,550 2,828
Data processing expense 7,386 6,997 6,539
Professional services 1,885 2,169 1,774
Legal accruals and settlements 0 989 850
Amortization of intangible assets 609 734 860
Marketing and advertising expense 932 1,181 794
Other real estate owned expenses 115 422 110
FDIC insurance 537 1,142 1,236
Loan expense 787 863 694
Other 6,198 6,093 6,064
Total non-interest expenses 55,696 56,766 53,764
Income before income tax expense 19,043 23,635 14,692
Income tax expense 3,434 4,009 7,262
Net income $ 15,609 $ 19,626 $ 7,430
Weighted average shares outstanding (in shares) 4,869 4,832 4,800
Basic and diluted earnings per share (in dollars per share) $ 3.21 $ 4.06 $ 1.55
WMG      
Non-Interest Income:      
Revenues from contracts with customer $ 9,503 $ 9,317 $ 8,804
Service Charge on Deposits      
Non-Interest Income:      
Revenues from contracts with customer 4,460 4,727 4,961
Interchange Revenue      
Non-Interest Income:      
Revenues from contracts with customer $ 4,104 $ 4,040 $ 3,761