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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest and dividend income        
Loans, including fees $ 21,638 $ 20,776 $ 64,924 $ 63,395
Taxable securities 1,325 1,712 4,100 5,155
Tax-exempt securities 1,536 1,449 4,589 4,208
Federal funds sold and other 59 86 531 775
Total interest and dividend income 24,558 24,023 74,144 73,533
Interest expense        
Deposits 1,631 2,099 5,418 5,966
Federal Home Loan Bank advances 452 1,152 1,480 2,581
Subordinated debentures 194 350 757 1,094
Other borrowings 271   275  
Securities sold under agreements to repurchase and other 4 4 18 14
Total interest expense 2,552 3,605 7,948 9,655
Net interest income 22,006 20,418 66,196 63,878
Provision for loan losses 2,250 150 7,862 150
Net interest income after provision for loan losses 19,756 20,268 58,334 63,728
Noninterest income        
Service charges 1,414 1,726 3,812 4,733
Net gain on sale of securities 92 3 92 17
Net gain (loss) on equity securities 20 112 (126) 81
Net gain on sale of loans 2,413 815 5,501 1,701
ATM/Interchange fees 1,183 1,014 3,226 2,871
Wealth management fees 1,006 975 2,916 2,733
Bank owned life insurance 243 254 733 753
Tax refund processing fees     2,375 2,750
Swap fees 158 199 1,260 287
Other 257 331 727 890
Total noninterest income 6,786 5,429 20,516 16,816
Noninterest expense        
Compensation expense 10,595 9,707 32,063 29,059
Net occupancy expense 1,010 902 3,050 2,906
Equipment expense 494 561 1,507 1,504
Contracted data processing 415 435 1,340 1,301
FDIC assessment 288 (1) 531 297
State franchise tax 427 499 1,394 1,398
Professional services 669 756 2,289 2,151
Amortization of intangible assets 227 235 686 710
ATM/Interchange expense 538 514 1,316 1,437
Marketing 361 404 1,056 1,111
Software maintenance expense 506 396 1,350 1,101
Other operating expenses 2,197 2,323 7,115 6,843
Total noninterest expense 17,727 16,731 53,697 49,818
Income before taxes 8,815 8,966 25,153 30,726
Income tax expense 1,133 1,258 3,134 4,688
Net Income 7,682 7,708 22,019 26,038
Preferred stock dividends   162 0 490
Net income available to common shareholders $ 7,682 $ 7,546 $ 22,019 $ 25,548
Earnings per common share, basic $ 0.48 $ 0.48 $ 1.36 $ 1.64
Earnings per common share, diluted $ 0.48 $ 0.46 $ 1.36 $ 1.54