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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 7,190 $ 7,239 $ 21,145 $ 21,496
Taxable securities 372 534 1,462 1,705
Nontaxable securities 110 133 343 401
Other 42 356 312 749
Total interest and dividend income 7,714 8,262 23,262 24,351
INTEREST EXPENSE        
Deposits 636 966 2,139 2,711
Short-term borrowings 14 78 75 264
Other borrowings 23 30 79 106
Total interest expense 673 1,074 2,293 3,081
NET INTEREST INCOME 7,041 7,188 20,969 21,270
Provision for loan losses 377 285 1,272 855
Net interest income, after provision for loan losses 6,664 6,903 19,697 20,415
NON INTEREST INCOME        
Gain on sale of loans, net 567 132 1,189 287
Earnings on bank owned life insurance 131 120 390 326
Unrealized gain or (loss) on equity securities, net (1) 5 (10) 8
Other income 244 239 653 655
Total noninterest income 1,862 1,440 4,846 3,977
NON INTEREST EXPENSES        
Salaries and employee benefits 2,959 2,993 8,603 8,750
Occupancy expense 246 209 711 618
Equipment expense 172 128 505 408
Professional and director fees 232 316 843 963
Financial institutions and franchise tax expense 171 153 513 459
Marketing and public relations 96 149 289 405
Software expense 269 225 755 674
Debit card expense 165 142 451 401
Amortization of intangible assets 15 16 45 47
FDIC insurance expense 17   103 98
Other expenses 708 668 1,948 1,867
Total noninterest expenses 5,050 4,999 14,766 14,690
Income before income taxes 3,476 3,344 9,777 9,702
FEDERAL INCOME TAX PROVISION 676 649 1,888 1,881
NET INCOME $ 2,800 $ 2,695 $ 7,889 $ 7,821
Basic and diluted net earnings per share $ 1.02 $ 0.98 $ 2.88 $ 2.85
Deposit Account [Member]        
NON INTEREST INCOME        
Noninterest income $ 252 $ 333 $ 753 $ 938
Fiduciary and Trust [Member]        
NON INTEREST INCOME        
Noninterest income 236 234 662 670
Debit Card [Member]        
NON INTEREST INCOME        
Noninterest income $ 433 $ 377 $ 1,209 $ 1,093