XML 17 R4.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
INTEREST INCOME      
Interest-bearing deposits $ 194 $ 258 $ 906
FHLB stock 197 331 385
Securities:      
Taxable 1,298 1,695 1,926
Tax-exempt 31 61 104
Total securities 1,329 1,756 2,030
Loans:      
SBA loans 3,252 3,144 3,780
SBA PPP loans 7,206 3,120  
Commercial loans 44,167 40,002 37,577
Residential mortgage loans 19,227 22,255 22,483
Consumer loans 3,145 3,502 3,808
Residential construction loans 6,063 4,547 4,679
Total loans 83,060 76,570 72,327
Total interest income 84,780 78,915 75,648
INTEREST EXPENSE      
Interest-bearing demand deposits 1,073 1,344 1,386
Savings deposits 1,685 2,463 4,907
Time deposits 3,834 8,784 9,459
Borrowed funds and subordinated debentures 1,149 1,889 2,303
Total interest expense 7,741 14,480 18,055
Net interest income 77,039 64,435 57,593
Provision for loan losses 181 7,000 2,100
Net interest income after provision for loan losses 76,858 57,435 55,493
NONINTEREST INCOME      
Gain on sale of SBA loans held for sale, net 741 1,642 909
Gain on sale of mortgage loans, net 4,567 6,344 2,090
BOLI income 689 613 588
Net security gains 609 93 373
Gain on sale of premises and equipment (4) 0 766
Other income 1,561 1,466 1,346
Total noninterest income 12,054 12,946 9,539
NONINTEREST EXPENSE      
Compensation and benefits 24,771 23,124 20,666
Processing and communications 3,050 3,155 2,924
Occupancy 2,661 2,543 2,650
Furniture and equipment 2,590 2,606 2,894
Professional services 1,437 1,144 1,061
Advertising 1,236 906 1,358
Other loan expenses 922 622 272
Deposit insurance 844 674 301
Director fees 811 774 673
BSA expenses 701 1,800  
Loan collection & OREO expenses 135 215 41
Other expenses 1,624 1,699 1,877
Total noninterest expense 40,782 39,262 34,717
Income before provision for income taxes 48,130 31,119 30,315
Provision for income taxes 12,011 7,475 6,662
Net income $ 36,119 $ 23,644 $ 23,653
Net income per common share - Basic $ 3.47 $ 2.21 $ 2.18
Net income per common share - Diluted $ 3.43 $ 2.19 $ 2.14
Weighted average common shares outstanding - Basic 10,403 10,709 10,845
Weighted average common shares outstanding - Diluted 10,546 10,814 11,029
Branch fee income      
NONINTEREST INCOME      
Noninterest income $ 1,130 $ 1,046 $ 1,502
Service and loan fee income      
NONINTEREST INCOME      
Noninterest income $ 2,757 $ 1,742 $ 1,965