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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest and dividend income        
Loans, including fees $ 21,613 $ 21,657 $ 43,286 $ 42,619
Taxable securities 1,359 1,694 2,775 3,442
Tax-exempt securities 1,541 1,408 3,053 2,760
Federal funds sold and other 71 167 472 689
Total interest and dividend income 24,584 24,926 49,586 49,510
Interest expense        
Deposits 1,802 1,976 3,787 3,867
Federal Home Loan Bank advances 447 831 1,028 1,429
Subordinated debentures 250 372 563 744
Securities sold under agreements to repurchase and other 10 5 18 10
Total interest expense 2,509 3,184 5,396 6,050
Net interest income 22,075 21,742 44,190 43,460
Provision for loan losses 3,486   5,612  
Net interest income after provision for loan losses 18,589 21,742 38,578 43,460
Noninterest income        
Service charges 930 1,552 2,398 3,008
Net gain on sale of securities   10   14
Net loss on equity securities (5) (33) (146) (31)
Net gain on sale of loans 2,261 555 3,088 886
ATM/Interchange fees 1,149 951 2,043 1,857
Wealth management fees 904 911 1,910 1,758
Bank owned life insurance 240 252 490 499
Tax refund processing fees 475 550 2,375 2,750
Swap fees 764 15 1,102 88
Other 136 341 470 559
Total noninterest income 6,854 5,104 13,730 11,388
Noninterest expense        
Compensation expense 10,597 9,548 21,468 19,353
Net occupancy expense 1,064 964 2,040 2,004
Equipment expense 507 480 1,013 943
Contracted data processing 475 447 925 866
FDIC assessment 156 106 243 298
State franchise tax 475 499 967 899
Professional services 883 700 1,620 1,395
Amortization of intangible assets 228 235 459 475
ATM/Interchange expense 331 546 778 924
Marketing 339 367 695 707
Software maintenance expense 407 356 844 705
Other operating expenses 2,652 2,391 4,918 4,519
Total noninterest expense 18,114 16,639 35,970 33,088
Income before taxes 7,329 10,207 16,338 21,760
Income tax expense 825 1,546 2,001 3,430
Net Income 6,504 8,661 14,337 18,330
Preferred stock dividends   164 0 328
Net income available to common shareholders $ 6,504 $ 8,497 $ 14,337 $ 18,002
Earnings per common share, basic $ 0.41 $ 0.54 $ 0.88 $ 1.15
Earnings per common share, diluted $ 0.41 $ 0.51 $ 0.88 $ 1.08