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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest Income        
Interest and fees on loans $ 8,419 $ 8,460 $ 16,885 $ 16,729
Interest on interest-bearing deposits 14 382 231 641
Interest on securities – taxable 1,863 1,603 4,219 3,286
Interest on securities – nontaxable 454 848 803 1,775
Total interest income (10,750) (11,293) (22,138) (22,431)
Interest Expense        
Interest on time deposits 522 419 1,081 716
Interest on other deposits 1,076 1,495 2,313 2,991
Total interest expense (1,598) (1,914) (3,394) (3,707)
Net interest income 9,152 9,379 18,744 18,724
Provision for loan losses 1,352 55 1,831 255
Net interest income after provision for loan losses 7,800 9,324 16,913 18,469
Noninterest Income:        
Noninterest Income 1,278 1,513 2,737 2,997
BOLI income 219 232 440 451
Other income 277 231 810 1,141
Realized securities gain, net 62 8 82 20
Total noninterest income 1,745 1,856 3,880 4,345
Noninterest Expense        
Salaries and employee benefits 3,692 3,802 7,671 7,623
Occupancy, furniture and fixtures 458 477 908 942
Data processing and ATM 806 789 1,597 1,540
FDIC assessment 40 82 40 167
Net (gains on) costs of other real estate owned (4) 3 18 28
Franchise taxes 335 333 678 647
Other operating expenses 750 967 1,632 1,971
Total noninterest expense 6,077 6,453 12,544 12,918
Income before income taxes 3,468 4,727 8,249 9,896
Income tax expense 486 733 1,288 1,459
Net Income $ 2,982 $ 3,994 $ 6,961 $ 8,437
Basic net income per common share (in dollars per share) $ 0.46 $ 0.61 $ 1.07 $ 1.27
Fully diluted net income per common share (in dollars per share) $ 0.46 $ 0.61 $ 1.07 $ 1.27
Weighted average number of common shares outstanding – basic and diluted (in shares) 6,489,574 6,505,574 6,489,574 6,668,038
Dividends declared per common share (in dollars per share) $ 0.67 $ 0.67 $ 0.67 $ 0.67
Deposit Account [Member]        
Noninterest Income:        
Noninterest Income $ 377 $ 607 $ 959 $ 1,197
Product and Service, Other [Member]        
Noninterest Income:        
Noninterest Income 37 51 76 103
Credit and Debit Card [Member]        
Noninterest Income:        
Noninterest Income 386 356 692 665
Fiduciary and Trust [Member]        
Noninterest Income:        
Noninterest Income $ 387 $ 371 $ 821 $ 768