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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest and dividend income        
Loans, including fees $ 22,653 $ 21,613 $ 45,436 $ 43,286
Taxable securities 1,230 1,359 2,505 2,775
Tax-exempt securities 1,525 1,541 3,044 3,053
Federal funds sold and other 90 71 239 472
Total interest and dividend income 25,498 24,584 51,224 49,586
Interest expense        
Deposits 1,136 1,802 2,396 3,787
Federal Home Loan Bank advances 330 447 774 1,028
Subordinated debentures 185 250 371 563
Securities sold under agreements to repurchase and other 6 10 14 18
Total interest expense 1,657 2,509 3,555 5,396
Net interest income 23,841 22,075 47,669 44,190
Provision for loan losses 0 3,486 830 5,612
Net interest income after provision for loan losses 23,841 18,589 46,839 38,578
Noninterest income        
Service charges 1,317 930 2,573 2,398
Net gain on sale of securities 1,784   1,783  
Net gain (loss) on equity securities 53 (5) 141 (146)
Net gain on sale of loans 2,218 2,261 4,963 3,088
ATM/Interchange fees 1,373 1,149 2,620 2,043
Wealth management fees 1,188 904 2,334 1,910
Bank owned life insurance 248 240 491 490
Tax refund processing fees 475 475 2,375 2,375
Swap fees 17 764 94 1,102
Other 352 136 841 470
Total noninterest income 9,025 6,854 18,215 13,730
Noninterest expense        
Compensation expense 11,406 10,597 23,188 21,468
Net occupancy expense 1,007 1,064 2,231 2,040
Equipment expense 482 507 896 1,013
Contracted data processing 490 475 933 925
FDIC assessment 322 156 582 243
State franchise tax 471 475 1,096 967
Professional services 741 883 1,479 1,620
Amortization of intangible assets 223 228 445 459
ATM/Interchange expense 656 331 1,249 778
Marketing 343 339 641 695
Software maintenance expense 545 407 1,053 844
Other operating expenses 5,781 2,652 8,064 4,918
Total noninterest expense 22,467 18,114 41,857 35,970
Income before taxes 10,399 7,329 23,197 16,338
Income tax expense 1,235 825 3,275 2,001
Net Income $ 9,164 $ 6,504 $ 19,922 $ 14,337
Earnings per common share, basic $ 0.59 $ 0.41 $ 1.27 $ 0.88
Earnings per common share, diluted $ 0.59 $ 0.41 $ 1.27 $ 0.88
Weighted average common shares, basic 15,529,766 15,989,851 15,674,231 16,237,242
Weighted average common shares, diluted 15,529,766 15,989,851 15,674,231 16,237,242