XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
INTEREST INCOME        
Federal funds sold and interest-bearing deposits $ 23 $ 232 $ 212 $ 453
FHLB stock 79 77 188 193
Securities:        
Taxable 437 461 948 937
Tax-exempt 17 27 39 55
Total securities 454 488 987 992
Loans:        
SBA loans 709 942 1,694 1,937
SBA PPP loans 723   723  
Commercial loans 9,815 9,357 19,748 18,426
Residential mortgage loans 5,554 5,535 11,324 11,095
Consumer loans 1,921 2,150 3,988 4,185
Total loans 18,722 17,984 37,477 35,643
Total interest income 19,278 18,781 38,864 37,281
INTEREST EXPENSE        
Interest-bearing demand deposits 364 442 842 851
Savings deposits 512 1,188 1,363 2,306
Time deposits 2,454 2,437 4,900 4,445
Borrowed funds and subordinated debentures 423 504 989 1,253
Total interest expense 3,753 4,571 8,094 8,855
Net interest income 15,525 14,210 30,770 28,426
Provision for loan losses 2,500 350 4,000 850
Net interest income after provision for loan losses 13,025 13,860 26,770 27,576
NONINTEREST INCOME        
Branch fee income 207 378 523 746
Service and loan fee income 390 569 766 1,011
Gain on sale of SBA loans held for sale, net 92 238 565 554
Gain on sale of mortgage loans, net 1,553 630 2,604 980
BOLI income 154 147 327 297
Net security gains (losses) 79 98 (91) 198
Other income 336 351 662 647
Total noninterest income 2,811 2,411 5,356 4,433
NONINTEREST EXPENSE        
Compensation and benefits 5,553 5,186 10,992 10,030
Processing and communications 769 748 1,477 1,464
Furniture and equipment 641 718 1,296 1,377
Occupancy 630 653 1,253 1,346
BSA expenses 488   550  
Professional services 261 277 531 565
Advertising 207 374 497 722
Director fees 181 164 381 328
Other loan expenses 168 67 257 113
Deposit insurance 159 134 247 301
Loan collection and OREO expenses (recoveries) 1 (10) 187 57
Other expenses 119 480 833 966
Total noninterest expense 9,177 8,791 18,501 17,269
Income before provision for income taxes 6,659 7,480 13,625 14,740
Provision for income taxes 1,488 1,646 3,086 3,166
Net income $ 5,171 $ 5,834 $ 10,539 $ 11,574
Net income per common share - Basic (in dollars per share) $ 0.48 $ 0.54 $ 0.97 $ 1.07
Net income per common share - Diluted (in dollars per share) $ 0.47 $ 0.53 $ 0.96 $ 1.05
Weighted average common shares outstanding - Basic (in shares) 10,792 10,843 10,838 10,822
Weighted average common shares outstanding - Diluted (in shares) 10,888 11,026 10,962 11,011