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Consolidated Statements of Earnings (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest income:    
Interest and fees on loans $ 28,493 $ 27,276
Interest and dividends on securities:    
Taxable securities 1,692 2,040
Exempt from federal income taxes 323 242
Interest on loans held for sale 100 108
Interest on federal funds sold 0 56
Interest on balances held at depository institutions 108 316
Interest and dividends on restricted securities 26 49
Total interest income 30,742 30,087
Interest expense:    
Interest on negotiable order of withdrawal accounts 211 443
Interest on money market and savings accounts 540 1,359
Interest on time deposits 2,149 3,041
Interest on Federal Home Loan Bank advances 133 151
Total interest expense 3,033 4,994
Net interest income before provision for loan losses 27,709 25,093
Provision for loan losses 827 1,469
Net interest income after provision for loan losses 26,882 23,624
Service charges on deposit accounts 1,325 1,675
Brokerage income 1,398 1,189
Debit and credit card interchange income 2,529 2,003
Other fees and commissions 518 316
Income on BOLI and annuity contracts 204 183
Gain on sale of loans 3,606 911
Gain on sale of securities 0 158
Gain on sale of other assets 1 0
Total non-interest income 9,581 6,435
Salaries and employee benefits 13,300 11,132
Occupancy expenses, net 1,291 1,150
Advertising & public relations expense 487 616
Furniture and equipment expense 826 768
Data processing expense 1,387 1,169
ATM & interchange expense 1,090 873
Directors’ fees 157 158
Audit, legal & consulting expenses 189 180
Other operating expenses 2,944 2,656
Total non-interest expense 21,671 18,702
Earnings before income taxes 14,792 11,357
Income taxes 3,648 2,326
Net earnings $ 11,144 $ 9,031
Weighted average number of common shares outstanding-basic (in shares) 11,079,350 10,864,866
Weighted average number of common shares outstanding-diluted (in shares) 11,108,566 10,886,456
Basic earnings per common share (in dollars per share) $ 1.01 $ 0.83
Diluted earnings per common share (in dollars per share) 1.00 0.83
Dividends per common share (in dollars per share) $ 0.60 $ 0.60