XML 31 R4.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Interest income    
Loans $ 20,166,000 $ 15,151,000
Investment securities - taxable 3,438,000 3,492,000
Investment securities - tax-exempt 284,000 842,000
Short-term investments 79,000 173,000
Total interest income 23,967,000 19,658,000
Interest expense    
Deposits 4,354,000 3,715,000
Securities sold under agreements to repurchase 32,000 27,000
FHLB Advances 818,000 659,000
Subordinated notes 501,000 497,000
Total interest expense 5,705,000 4,898,000
Net interest income 18,262,000 14,760,000
Provision for loan losses 925,000 400,000
Net interest income after provision for loan losses 17,337,000 14,360,000
Noninterest income    
Service charges on deposit accounts 847,000 753,000
Interchange income 788,000 736,000
Other service charges, commissions and fees 140,000 149,000
Loan swap referral fees 200,000 0
Trust and investment management income 1,640,000 1,758,000
Brokerage income 719,000 478,000
Mortgage banking activities 332,000 468,000
Gain on sale of portfolio loans 1,878,000 0
Income from life insurance 540,000 342,000
Investment securities (losses) gains (40,000) 339,000
Other income 30,000 112,000
Total noninterest income 7,074,000 5,135,000
Noninterest expenses    
Salaries and employee benefits 11,594,000 8,677,000
Occupancy 1,127,000 1,001,000
Furniture and equipment 1,162,000 1,023,000
Data processing 871,000 770,000
Automated teller and interchange fees 251,000 236,000
Advertising and bank promotions 789,000 521,000
FDIC insurance 47,000 185,000
Other professional services 716,000 557,000
Directors' compensation 201,000 236,000
Taxes other than income 0 306,000
Intangible asset amortization 463,000 208,000
Merger related and branch consolidation expenses 0 645,000
Insurance claim receivable (recovery) write-off (486,000) 615,000
Other operating expenses 1,569,000 1,181,000
Total noninterest expenses 18,304,000 16,161,000
Income before income tax expense 6,107,000 3,334,000
Income tax expense 1,039,000 232,000
Net income $ 5,068,000 $ 3,102,000
Per share information:    
Basic earnings per share (in usd per share) $ 0.46 $ 0.34
Diluted earnings per share (in usd per share) 0.46 0.33
Dividends paid per share (in usd per share) $ 0.17 $ 0.15