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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest and dividend income:        
Loans, including fees $ 14,655 $ 14,876 $ 43,964 $ 43,770
Taxable securities 2,678 1,474 6,431 4,358
Tax exempt securities 265 263 792 799
Interest-earning deposits 35 101 131 643
Total interest and dividend income 17,633 16,714 51,318 49,570
Interest expense:        
Deposits 768 809 2,521 2,922
Borrowed funds 33 36 100 126
Total interest expense 801 845 2,621 3,048
Net interest income 16,832 15,869 48,697 46,522
Provision (credit) for loan losses 356 679 (53) 3,989
Net interest income after provision for loan losses 16,476 15,190 48,750 42,533
Non-interest income:        
Changes in fair value of equity investments 15 57 203 (33)
Net gains on sales of loans held for sale 242 553 884 916
Net gains (losses) on sales of other real estate owned 0 6 (18) (71)
Income from bank-owned life insurance 13 14 39 147
Other 842 471 2,802 1,940
Total non-interest income 5,970 5,339 18,083 15,150
Non-interest expenses:        
Salaries and wages 6,259 6,088 18,058 17,678
Pension and other employee benefits 1,511 1,245 4,450 4,095
Other components of net periodic pension and postretirement benefits (391) (254) (1,173) (762)
Net occupancy 1,432 1,454 4,446 4,406
Furniture and equipment 409 538 1,185 1,573
Data processing 2,210 1,777 6,261 5,630
Professional services 542 453 1,531 1,313
Amortization of intangible assets 42 120 232 371
Marketing and advertising 162 140 572 546
Other real estate owned 7 53 24 87
FDIC insurance 356 247 1,075 726
Loan expense 196 301 720 798
Other 1,365 1,200 3,923 3,878
Total non-interest expenses 14,100 13,362 41,304 40,339
Income before income tax expense 8,346 7,167 25,529 17,344
Income tax expense 1,700 1,456 5,558 3,315
Net income $ 6,646 $ 5,711 $ 19,971 $ 14,029
Weighted average shares outstanding, basic (in shares) 4,684 4,773 4,687 4,836
Weighted average shares outstanding, diluted (in shares) 4,684 4,773 4,687 4,836
Basic earnings per share (in dollars per share) $ 1.42 $ 1.19 $ 4.26 $ 2.90
Diluted earnings per share (in dollars per share) $ 1.42 $ 1.19 $ 4.26 $ 2.90
WMG fee income        
Non-interest income:        
Revenue from contract with customer, excluding assessed tax $ 2,765 $ 2,416 $ 8,246 $ 6,968
Service charges on deposit accounts        
Non-interest income:        
Revenue from contract with customer, excluding assessed tax 856 740 2,305 2,294
Interchange revenue from debit card transactions        
Non-interest income:        
Revenue from contract with customer, excluding assessed tax $ 1,237 $ 1,082 $ 3,622 $ 2,989