XML 15 R4.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
INTEREST INCOME    
Federal funds sold and interest-bearing deposits $ 24 $ 188
FHLB stock 63 109
Securities:    
Taxable 292 511
Tax-exempt 10 22
Total securities 302 533
Loans:    
SBA loans 783 985
SBA PPP loans 1,730  
Commercial loans 10,474 9,933
Residential mortgage loans 5,128 5,770
Consumer loans 857 960
Consumer construction loans 1,215 1,107
Total loans 20,187 18,755
Total interest income 20,576 19,585
INTEREST EXPENSE    
Interest-bearing demand deposits 309 378
Savings deposits 431 951
Time deposits 1,463 2,447
Borrowed funds and subordinated debentures 355 565
Total interest expense 2,558 4,341
Net interest income 18,018 15,244
Provision for loan losses 500 1,500
Net interest income after provision for loan losses 17,518 13,744
NONINTEREST INCOME    
Branch fee income 295 317
Service and loan fee income 625 376
Gain on sale of SBA loans held for sale, net 245 473
Gain on sale of mortgage loans, net 1,750 1,051
BOLI income 129 173
Net security gains (losses) 310 (170)
Other income 372 325
Total noninterest income 3,726 2,545
NONINTEREST EXPENSE    
Compensation and benefits 6,063 5,439
Processing and communications 807 708
Occupancy 706 624
Furniture and equipment 649 655
Professional services 380 269
Advertising 268 290
Deposit insurance 214 88
Director fees 208 200
BSA expenses 168 63
Other loan expenses 143 89
Loan collection and OREO (recoveries) expenses (49) 186
Other expenses 245 712
Total noninterest expense 9,802 9,323
Income before provision for income taxes 11,442 6,966
Provision for income taxes 2,946 1,598
Net income $ 8,496 $ 5,368
Net income per common share - Basic $ 0.81 $ 0.49
Net income per common share - Diluted $ 0.80 $ 0.49
Weighted average common shares outstanding - Basic 10,437 10,883
Weighted average common shares outstanding - Diluted 10,565 11,037