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Consolidated Statements of Earnings (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Interest income:    
Interest and fees on loans $ 27,276 $ 25,774
Interest and dividends on securities:    
Taxable securities 2,040 1,607
Exempt from federal income taxes 242 167
Interest on loans held for sale 108 78
Interest on federal funds sold 56 8
Interest on balances held at depository institutions 316 600
Interest and dividends on restricted securities 49 50
Total interest income 30,087 28,284
Interest expense:    
Interest on negotiable order of withdrawal accounts 443 572
Interest on money market and savings accounts 1,359 1,740
Interest on time deposits 3,041 2,886
Interest on Federal Home Loan Bank advances 151 13
Total interest expense 4,994 5,211
Net interest income before provision for loan losses 25,093 23,073
Provision for loan losses 1,469 1,033
Net interest income after provision for loan losses 23,624 22,040
Non-interest income:    
Service charges on deposit accounts 1,675 1,663
Other fees and commissions 3,508 3,107
Income on BOLI and annuity contracts 183 199
Gain on sale of loans 911 1,646
Loss on the sale of fixed assets 0 (1)
Loss on sale of other real estate 0 (45)
Gain (loss) on sale of securities 158 (309)
Total non-interest income 6,435 6,260
us-gaap_NoninterestExpenseAbstract    
Salaries and employee benefits 11,132 10,410
Occupancy expenses, net 1,150 1,114
Advertising & public relations expense 603 477
Furniture and equipment expense 768 772
Data processing expense 1,169 978
ATM & interchange expense 873 784
Directors’ fees 158 134
Audit, legal & consulting expenses 180 100
Other operating expenses 2,669 2,649
Total non-interest expense 18,702 17,418
Earnings before income taxes 11,357 10,882
Income taxes 2,326 2,592
Net earnings $ 9,031 $ 8,290
Weighted average number of common shares outstanding-basic (in shares) 10,864,866 10,701,602
Weighted average number of common shares outstanding-diluted (in shares) 10,886,456 10,716,872
Basic earnings per common share (in dollars per share) $ 0.83 $ 0.77
Diluted earnings per common share (in dollars per share) 0.83 0.77
Cash dividends declared, per share (in dollars per share) $ 0.60 $ 0.55