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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest Income        
Interest and fees on loans $ 9,088 $ 8,606 $ 26,104 $ 25,491
Interest on interest-bearing deposits 56 17 123 248
Interest on securities – taxable 2,043 1,572 5,736 5,791
Interest on securities – nontaxable 469 513 1,472 1,316
Total interest income (11,656) (10,708) (33,435) (32,846)
Interest Expense        
Interest on time deposits 61 395 223 1,476
Interest on other deposits 658 1,025 2,185 3,338
Total interest expense (719) (1,420) (2,408) (4,814)
Net interest income 10,937 9,288 31,027 28,032
Provision for (recovery of) loan losses (392) 154 (338) 1,985
Net interest income after provision for (recovery of) loan losses 11,329 9,134 31,365 26,047
Noninterest Income:        
Noninterest Income 1,590 1,413 4,915 4,150
BOLI income 248 219 664 659
Gain on sale of mortgage loans 76 165 287 416
Other income 177 258 1,034 817
Realized securities gain, net 0 14 5 96
Total noninterest income 1,992 1,926 6,267 5,806
Noninterest Expense        
Salaries and employee benefits 3,909 3,511 11,767 10,882
Occupancy, furniture and fixtures 447 452 1,378 1,360
Data processing and ATM 728 799 2,292 2,396
FDIC assessment 120 87 296 127
Net costs of other real estate owned 11 18 49 36
Franchise taxes 367 331 1,059 1,009
Other operating expenses 785 922 2,509 2,854
Total noninterest expense 6,367 6,120 19,350 18,664
Income before income taxes 6,954 4,940 18,282 13,189
Income tax expense 1,202 772 3,151 2,060
Net Income $ 5,752 $ 4,168 $ 15,131 $ 11,129
Basic net income per common share (in dollars per share) $ 0.94 $ 0.64 $ 2.42 $ 1.71
Fully diluted net income per common share (in dollars per share) $ 0.94 $ 0.64 $ 2.42 $ 1.71
Weighted average number of common shares outstanding, basic and diluted (in shares) 6,142,538 6,489,574 6,253,796 6,489,574
Dividends declared per common share (in dollars per share) $ 0 $ 0 $ 0.70 $ 0.67
Deposit Account [Member]        
Noninterest Income:        
Noninterest Income $ 548 $ 471 $ 1,488 $ 1,430
Product and Service, Other [Member]        
Noninterest Income:        
Noninterest Income 50 37 134 113
Credit and Debit Card [Member]        
Noninterest Income:        
Noninterest Income 460 339 1,373 1,031
Fiduciary and Trust [Member]        
Noninterest Income:        
Noninterest Income $ 433 $ 423 $ 1,282 $ 1,244