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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest and dividend income        
Loans, including fees $ 22,704 $ 21,638 $ 68,140 $ 64,924
Taxable securities 1,423 1,325 3,928 4,100
Tax-exempt securities 1,555 1,536 4,599 4,589
Deposits in other banks 102 59 341 531
Total interest and dividend income 25,784 24,558 77,008 74,144
Interest expense        
Deposits 970 1,631 3,366 5,418
Federal Home Loan Bank advances 194 452 968 1,480
Subordinated debentures 182 194 553 757
Securities sold under agreements to repurchase and other 5 275 19 293
Total interest expense 1,351 2,552 4,906 7,948
Net interest income 24,433 22,006 72,102 66,196
Provision for loan losses 0 2,250 830 7,862
Net interest income after provision for loan losses 24,433 19,756 71,272 58,334
Noninterest income        
Service charges 1,519 1,414 4,092 3,812
Net gain on sale of securities 4 92 1,787 92
Net gain (loss) on equity securities 50 20 191 (126)
Net gain on sale of loans 1,612 2,413 6,575 5,501
ATM/Interchange fees 1,330 1,183 3,950 3,226
Wealth management fees 1,236 1,006 3,570 2,916
Bank owned life insurance 261 243 752 733
Tax refund processing fees     2,375 2,375
Swap fees 41 158 135 1,260
Other 373 257 1,214 727
Total noninterest income 6,426 6,786 24,641 20,516
Noninterest expense        
Compensation expense 11,390 10,595 34,578 32,063
Net occupancy expense 985 1,010 3,216 3,050
Equipment expense 444 494 1,340 1,507
Contracted data processing 429 415 1,362 1,340
FDIC assessment 247 288 829 531
State franchise tax 511 427 1,607 1,394
Professional services 776 669 2,255 2,289
Amortization of intangible assets 223 227 668 686
ATM/Interchange expense 594 538 1,843 1,316
Marketing 359 361 1,000 1,056
Software maintenance expense 819 506 1,872 1,350
Other operating expenses 2,677 2,197 10,741 7,115
Total noninterest expense 19,454 17,727 61,311 53,697
Income before taxes 11,405 8,815 34,602 25,153
Income tax expense 1,763 1,133 5,038 3,134
Net Income $ 9,642 $ 7,682 $ 29,564 $ 22,019
Earnings per common share, basic $ 0.64 $ 0.48 $ 1.90 $ 1.36
Earnings per common share, diluted $ 0.64 $ 0.48 $ 1.90 $ 1.36
Weighted average common shares, basic 15,096,162 15,991,270 15,479,424 16,154,652
Weighted average common shares, diluted 15,096,162 15,991,270 15,479,424 16,154,652