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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income        
Loans $ 21,794,000 $ 19,658,000 $ 41,960,000 $ 34,809,000
Investment securities - taxable 2,795,000 3,681,000 6,233,000 7,173,000
Investment securities - tax-exempt 420,000 632,000 704,000 1,474,000
Short-term investments 13,000 501,000 92,000 674,000
Total interest income 25,022,000 24,472,000 48,989,000 44,130,000
Interest expense        
Deposits 3,310,000 4,892,000 7,664,000 8,607,000
Securities sold under agreements to repurchase 152,000 28,000 184,000 55,000
FHLB advances and other 260,000 538,000 1,078,000 1,197,000
Subordinated notes 502,000 499,000 1,003,000 996,000
Total interest expense 4,224,000 5,957,000 9,929,000 10,855,000
Net interest income 20,798,000 18,515,000 39,060,000 33,275,000
Provision for loan losses 1,900,000 200,000 2,825,000 600,000
Net interest income after provision for loan losses 18,898,000 18,315,000 36,235,000 32,675,000
Noninterest income        
Service charges on deposit accounts 554,000 837,000 1,401,000 1,590,000
Interchange income 819,000 843,000 1,607,000 1,579,000
Other service charges, commissions and fees 165,000 241,000 305,000 390,000
Swap fees 232,000 0 432,000 0
Trust and investment management income 1,696,000 1,749,000 3,336,000 3,507,000
Brokerage income 599,000 672,000 1,318,000 1,150,000
Mortgage banking activities 1,609,000 652,000 1,941,000 1,120,000
Gain on sale of portfolio loans 925,000 0 2,803,000 0
Income from life insurance 532,000 684,000 1,072,000 1,026,000
Investment securities gains (losses) 9,000 2,064,000 (31,000) 2,403,000
Other income 53,000 32,000 83,000 144,000
Total noninterest income 7,193,000 7,774,000 14,267,000 12,909,000
Noninterest expenses        
Salaries and employee benefits 10,063,000 8,922,000 21,657,000 17,599,000
Occupancy 1,122,000 1,066,000 2,249,000 2,067,000
Furniture and equipment 1,204,000 1,140,000 2,366,000 2,163,000
Data processing 791,000 1,058,000 1,662,000 1,828,000
Automated teller and interchange fees 249,000 238,000 500,000 474,000
Advertising and bank promotions 167,000 548,000 956,000 1,069,000
FDIC insurance 214,000 221,000 261,000 406,000
Other professional services 1,021,000 707,000 1,737,000 1,264,000
Directors' compensation 264,000 261,000 465,000 497,000
Taxes other than income 449,000 314,000 451,000 620,000
Intangible asset amortization 404,000 402,000 867,000 610,000
Merger related and branch consolidation expenses 0 6,860,000 0 7,505,000
Insurance claim receivable (recovery) write-off 0 0 (486,000) 615,000
Other operating expenses 2,483,000 1,555,000 4,050,000 2,736,000
Total noninterest expenses 18,431,000 23,292,000 36,735,000 39,453,000
Income before income tax expense 7,660,000 2,797,000 13,767,000 6,131,000
Income tax expense 1,301,000 110,000 2,340,000 342,000
Net income $ 6,359,000 $ 2,687,000 $ 11,427,000 $ 5,789,000
Per share information:        
Basic earnings per share (in usd per share) $ 0.58 $ 0.26 $ 1.04 $ 0.59
Diluted earnings per share (in usd per share) 0.58 0.26 1.04 0.58
Dividends paid per share (in usd per share) $ 0.17 $ 0.15 $ 0.34 $ 0.30