Quarterly Results of Operations (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

2019 Quarters	Fourth		Third		Second		First
(in thousands, except share data)
Interest income	$	40,518	$	39,852	$	39,692	$	39,077
Interest expense		15,187		16,082		16,442		15,639
Net interest income		25,331		23,770		23,250		23,438
Provision for loan losses		550		75		250		375
Net interest income after provision for loan losses		24,781		23,695		23,000		23,063
Other operating income		4,689		4,286		4,997		4,427
Operating expenses		18,212		17,462		18,264		18,190
Income before income taxes		11,258		10,519		9,733		9,300
Provision for income taxes		526		435		267		(118	)
Net income	$	10,732	$	10,084	$	9,466	$	9,418
Share data:
Average shares outstanding, basic
Class A		3,650,949		3,650,449		3,620,449		3,610,329
Class B		1,916,960		1,917,460		1,947,460		1,957,580
Average shares outstanding, diluted
Class A		5,567,909		5,567,909		5,567,909		5,567,909
Class B		1,916,960		1,917,460		1,947,460		1,957,580
Earnings per share, basic
Class A	$	2.33	$	2.19	$	2.06	$	2.05
Class B	$	1.16	$	1.09	$	1.03	$	1.03
Earnings per share, diluted
Class A	$	1.93	$	1.81	$	1.70	$	1.69
Class B	$	1.16	$	1.09	$	1.03	$	1.03

2018 Quarters	Fourth		Third		Second		First
(in thousands, except share data)
Interest income	$	37,453	$	34,765	$	33,408	$	31,430
Interest expense		13,748		11,561		10,209		8,962
Net interest income		23,705		23,204		23,199		22,468
Provision for loan losses		450		—		450		450
Net interest income after provision for loan losses		23,255		23,204		22,749		22,018
Other operating income		4,164		4,169		3,722		4,193
Operating expenses		17,185		17,348		17,159		18,001
Income before income taxes		10,234		10,025		9,312		8,210
Provision for income taxes		309		444		314		501
Net income	$	9,925	$	9,581	$	8,998	$	7,709
Share data:
Average shares outstanding, basic
Class A		3,608,329		3,608,329		3,608,029		3,608,029
Class B		1,959,580		1,959,580		1,959,880		1,959,880
Average shares outstanding, diluted
Class A		5,567,909		5,567,909		5,567,909		5,567,909
Class B		1,959,580		1,959,580		1,959,880		1,959,880
Earnings per share, basic
Class A	$	2.16	$	2.09	$	1.96	$	1.68
Class B	$	1.08	$	1.04	$	0.98	$	0.84
Earnings per share, diluted
Class A	$	1.78	$	1.72	$	1.62	$	1.38
Class B	$	1.08	$	1.04	$	0.98	$	0.84