XML 15 R4.htm IDEA: XBRL DOCUMENT v3.19.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest Income        
Interest and fees on loans $ 8,460 $ 7,622 $ 16,729 $ 15,154
Interest on interest-bearing deposits 382 226 641 398
Interest on securities – taxable 1,603 1,746 3,286 3,354
Interest on securities – nontaxable 848 1,132 1,775 2,304
Total interest income 11,293 10,726 22,431 21,210
Interest Expense        
Interest on time deposits 419 116 716 237
Interest on other deposits 1,495 1,029 2,991 1,989
Total interest expense 1,914 1,145 3,707 2,226
Net interest income 9,379 9,581 18,724 18,984
Provision for loan losses 55 342 255 (130)
Net interest income after provision for loan losses 9,324 9,239 18,469 19,114
Noninterest Income:        
Noninterest Income 1,513 1,577 2,997 3,117
BOLI income 232 228 451 456
Other income 231 173 1,141 519
Realized securities gain, net 8 20
Total noninterest income 1,856 1,868 4,345 3,891
Noninterest Expense        
Salaries and employee benefits 3,802 3,545 7,623 7,239
Occupancy, furniture and fixtures 477 491 942 963
Data processing and ATM 789 607 1,540 1,340
FDIC assessment 82 90 167 181
Intangible assets amortization 12 25
Net costs of other real estate owned 3 164 28 249
Franchise taxes 333 320 647 651
Write-down of insurance receivable 287 2,010
Other operating expenses 967 908 1,971 1,930
Total noninterest expense 6,453 6,424 12,918 14,588
Income before income taxes 4,727 4,683 9,896 8,417
Income tax expense 733 642 1,459 1,080
Net Income $ 3,994 $ 4,041 $ 8,437 $ 7,337
Basic net income per common share (in dollars per share) $ 0.61 $ 0.58 $ 1.27 $ 1.05
Fully diluted net income per common share (in dollars per share) $ 0.61 $ 0.58 $ 1.27 $ 1.05
Weighted average number of common shares outstanding – basic and diluted (in shares) 6,505,574 6,957,974 6,669,853 6,957,974
Dividends declared per common share (in dollars per share) $ 0.67 $ 0.58 $ 0.67 $ 0.58
Deposit Account [Member]        
Noninterest Income:        
Noninterest Income $ 607 $ 694 $ 1,197 $ 1,364
Product and Service, Other [Member]        
Noninterest Income:        
Noninterest Income 51 34 103 67
Credit and Debit Card [Member]        
Noninterest Income:        
Noninterest Income 356 365 665 709
Fiduciary and Trust [Member]        
Noninterest Income:        
Noninterest Income $ 371 $ 374 $ 768 $ 776