Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

24. Quarterly Results of Operations (unaudited)

2020 Quarters	Fourth		Third		Second		First
(in thousands, except share data)
Interest income	$	36,617	$	36,504	$	36,120	$	39,795
Interest expense		8,138		9,173		10,302		14,594
Net interest income		28,479		27,331		25,818		25,201
Provision for loan losses		2,150		900		1,700		1,075
Net interest income after provision for loan losses		26,329		26,431		24,118		24,126
Other operating income		6,580		4,169		4,041		4,310
Operating expenses		20,106		18,167		17,042		18,173
Income before income taxes		12,803		12,433		11,117		10,263
Provision for income taxes		1,203		1,546		1,061		597
Net income	$	11,600	$	10,887	$	10,056	$	9,666
Share data:
Average shares outstanding, basic
Class A		3,655,469		3,655,469		3,652,469		3,652,349
Class B		1,912,440		1,912,440		1,915,440		1,915,560
Average shares outstanding, diluted
Class A		5,567,909		5,567,909		5,567,909		5,567,909
Class B		1,912,440		1,912,440		1,915,440		1,915,560
Earnings per share, basic
Class A	$	2.52	$	2.36	$	2.18	$	2.10
Class B	$	1.26	$	1.18	$	1.09	$	1.05
Earnings per share, diluted
Class A	$	2.08	$	1.96	$	1.81	$	1.74
Class B	$	1.26	$	1.18	$	1.09	$	1.05

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