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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Interest and Dividend Income:      
Loans, including fees $ 59,089 $ 58,245 $ 57,840
Taxable securities 6,004 5,265 4,804
Tax exempt securities 1,060 1,152 1,153
Interest-earning deposits 754 2,270 756
Total interest and dividend income 66,907 66,932 64,553
Interest Expense:      
Deposits 3,827 6,173 3,323
Securities sold under agreements to repurchase 0 0 137
Borrowed funds 161 148 613
Total interest expense 3,988 6,321 4,073
Net interest income 62,919 60,611 60,480
Provision for loan losses 4,239 5,945 3,153
Net interest income after provision for loan losses 58,680 54,666 57,327
Non-Interest Income:      
Net gains on securities transactions 0 19 0
Change in fair value of equity investments 89 81 2,004
Net gain on sales of loans held for sale 1,730 248 351
Net gains (losses) on sales of other real estate owned (79) (99) 90
Income from bank owned life insurance 161 63 66
Other 2,529 1,694 2,479
Total non-interest income 21,124 20,073 23,074
Non-Interest Expenses:      
Salaries and wages 24,250 23,420 22,322
Pension and other employee benefits 5,553 5,902 5,524
Other components of net periodic pension cost (benefit) (1,017) (541) (770)
Net occupancy expenses 5,885 5,969 6,550
Furniture and equipment expenses 2,078 2,497 2,550
Data processing expense 7,576 7,386 6,997
Professional services 1,725 1,885 2,169
Legal accruals and settlements 0 0 989
Amortization of intangible assets 484 609 734
Marketing and advertising expense 631 932 1,181
Other real estate owned expenses 102 115 422
FDIC insurance 987 537 1,142
Loan expense 1,173 787 863
Other 6,508 6,198 6,093
Total non-interest expenses 55,935 55,696 56,766
Income before income tax expense 23,869 19,043 23,635
Income tax expense 4,607 3,434 4,009
Net income $ 19,262 $ 15,609 $ 19,626
Weighted average shares outstanding (in shares) 4,802 4,869 4,832
Basic and diluted earnings per share (in dollars per share) $ 4.01 $ 3.21 $ 4.06
WMG      
Non-Interest Income:      
Revenues from contracts with customer $ 9,492 $ 9,503 $ 9,317
Service Charge on Deposits      
Non-Interest Income:      
Revenues from contracts with customer 3,134 4,460 4,727
Interchange Revenue      
Non-Interest Income:      
Revenues from contracts with customer $ 4,068 $ 4,104 $ 4,040