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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Loans, including fees:    
Taxable $ 26,941 $ 30,063
Federally tax exempt 674 710
Securities:    
Taxable 3,334 3,922
Federally tax exempt 1,028 1,552
Interest-bearing deposits in bank 729 687
Other interest and dividend income 14 15
Total interest and dividend income 32,720 36,949
INTEREST EXPENSE    
Deposits 1,595 1,983
Securities sold under agreements to repurchase 20 14
Borrowings   3
Subordinated debentures 443 497
Total interest expense 2,058 2,497
Net interest income 30,662 34,452
PROVISION FOR LOAN LOSSES 4,355 776
Net interest income after provision for loan losses 26,307 33,676
NONINTEREST INCOME    
Mortgage servicing 724 729
Mortgage servicing rights fair value adjustment (2,171) (1,002)
Gains on sale of mortgage loans 536 525
Gains (losses) on securities (52) 79
Gains (losses) on foreclosed assets 35 (17)
Gains (losses) on other assets (3) 905
Other noninterest income 743 797
Total noninterest income 5,252 7,487
NONINTEREST EXPENSE    
Salaries 12,754 12,522
Employee benefits 2,434 1,244
Occupancy of bank premises 1,828 1,837
Furniture and equipment 603 789
Data processing 1,586 1,162
Marketing and customer relations 1,044 933
Amortization of intangible assets 317 376
FDIC insurance 36 219
Loan collection and servicing 348 742
Foreclosed assets 89 164
Other noninterest expense 2,268 2,224
Total noninterest expense 23,307 22,212
INCOME BEFORE INCOME TAX EXPENSE 8,252 18,951
INCOME TAX EXPENSE 2,031 215
NET INCOME $ 6,221 $ 18,736
EARNINGS PER SHARE - BASIC $ 0.23 $ 1.04
EARNINGS PER SHARE - DILUTED $ 0.23 $ 1.04
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING 27,457,306 18,027,512
Card income    
NONINTEREST INCOME    
Revenue $ 1,792 $ 1,832
Service charges on deposit accounts    
NONINTEREST INCOME    
Revenue 1,834 1,763
Wealth management fees    
NONINTEREST INCOME    
Revenue $ 1,814 1,747
Title insurance activity    
NONINTEREST INCOME    
Revenue   $ 129