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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest Income        
Interest and fees on loans $ 8,548 $ 8,005 $ 25,277 $ 23,159
Interest on interest-bearing deposits 407 111 1,048 509
Interest on securities – taxable 1,565 1,771 4,851 5,125
Interest on securities – nontaxable 768 1,058 2,543 3,362
Total interest income 11,288 10,945 33,719 32,155
Interest Expense        
Interest on time deposits 523 107 1,239 344
Interest on other deposits 1,342 1,034 4,333 3,023
Interest on borrowed funds 104 104
Total interest expense 1,865 1,245 5,572 3,471
Net interest income 9,423 9,700 28,147 28,684
Provision for loan losses 95 223 350 93
Net interest income after provision for loan losses 9,328 9,477 27,797 28,591
Noninterest Income:        
Noninterest Income 1,576 1,570 4,572 4,687
BOLI income 230 222 681 678
Other income 227 282 1,368 801
Realized securities gain, net 162 182
Total noninterest income 2,098 1,914 6,443 5,805
Noninterest Expense        
Salaries and employee benefits 3,823 3,639 11,446 10,878
Occupancy, furniture and fixtures 468 433 1,410 1,396
Data processing and ATM 823 684 2,363 2,024
FDIC assessment 88 167 269
Intangible assets amortization 12 37
Net costs of other real estate owned 17 274 45 523
Franchise taxes 343 314 990 965
Other operating expenses 912 1,019 2,883 2,949
Total noninterest expense 6,386 6,463 19,304 21,051
Income before income taxes 5,040 4,928 14,936 13,345
Income tax expense 788 677 2,247 1,757
Net Income $ 4,252 $ 4,251 $ 12,689 $ 11,588
Basic net income per common share (in dollars per share) $ 0.65 $ 0.61 $ 1.92 $ 1.67
Fully diluted net income per common share (in dollars per share) $ 0.65 $ 0.61 $ 1.92 $ 1.67
Weighted average number of common shares outstanding – basic and diluted (in shares) 6,499,957 6,957,974 6,611,354 6,957,974
Dividends declared per common share (in dollars per share) $ 0.67 $ 0.58
Write-down of insurance receivable     $ 2,010
Deposit Account [Member]        
Noninterest Income:        
Noninterest Income $ 643 $ 673 1,840 2,037
Product and Service, Other [Member]        
Noninterest Income:        
Noninterest Income 46 20 149 87
Credit and Debit Card [Member]        
Noninterest Income:        
Noninterest Income 350 362 1,015 1,071
Fiduciary and Trust [Member]        
Noninterest Income:        
Noninterest Income $ 440 $ 355 $ 1,208 $ 1,131