XML 14 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest and fees on loans:        
Taxable $ 20,029 $ 21,160 $ 40,929 $ 42,077
Tax-exempt 965 941 1,835 1,972
Interest and dividends on investment securities:        
Taxable 1,276 1,420 2,519 2,968
Tax-exempt 411 295 801 594
Dividends 25 25 48 48
Interest on interest-bearing deposits in other banks 2 5 4 29
Interest on federal funds sold 55 6 104 6
Total interest income 22,763 23,852 46,240 47,694
Interest expense:        
Interest on deposits 1,941 2,864 4,033 6,367
Interest on short-term borrowings 6 102 77 675
Interest on long-term debt 82 231 185 436
Interest on subordinated debt 444 148 887 148
Total interest expense 2,473 3,345 5,182 7,626
Net interest income 20,290 20,507 41,058 40,068
Provision (credit) for loan losses 100 1,800 (400) 5,300
Net interest income after provision (credit) for loan losses 20,190 18,707 41,458 34,768
Noninterest income:        
Mortgage banking income 208 312 520 449
Increase in cash surrender value of life insurance 225 193 444 380
Interest rate swap (expense) revenue (132) 249 665 719
Net gain (loss) on equity investment securities (17) 39 4 (84)
Net gain on sale of investment securities available-for-sale       267
Total noninterest income 3,387 3,422 6,904 6,972
Noninterest expense:        
Salaries and employee benefits expense 7,250 7,048 13,820 14,904
Net occupancy and equipment expense 3,047 3,042 6,314 6,121
Amortization of intangible assets 125 154 250 308
Professional fees and outside services 577 611 1,016 976
FDIC insurance and assessments 271 336 531 410
Donations 379 341 718 679
Other expenses 1,879 1,710 3,508 3,495
Total noninterest expense 13,528 13,242 26,157 26,893
Income before income taxes 10,049 8,887 22,205 14,847
Income tax expense 1,518 1,311 4,196 1,990
Net income 8,531 7,576 18,009 12,857
Other comprehensive income (loss):        
Unrealized gain (loss) on investment securities available-for-sale 2,470 2,094 (5,279) 9,723
Reclassification adjustment for net gain on sales included in net income       (267)
Change in derivative fair value (135) (543) 106 493
Other comprehensive income (loss) 2,335 1,551 (5,173) 9,949
Income tax expense (benefit) 490 325 (1,087) 2,090
Other comprehensive income (loss), net of income taxes 1,845 1,226 (4,086) 7,859
Comprehensive income $ 10,376 $ 8,802 $ 13,923 $ 20,716
Net income:        
Basic $ 1.18 $ 1.03 $ 2.50 $ 1.75
Diluted $ 1.18 $ 1.03 $ 2.49 $ 1.74
Average common shares outstanding:        
Basic 7,204,261 7,341,636 7,207,588 7,360,517
Diluted 7,239,325 7,376,700 7,242,652 7,391,202
Dividends declared $ 0.37 $ 0.36 $ 0.74 $ 0.72
Service charges, fees and commissions        
Noninterest income:        
Revenue from contracts with customers $ 1,625 $ 1,433 $ 2,809 $ 3,038
Merchant services income        
Noninterest income:        
Revenue from contracts with customers 508 472 601 586
Commission and fees on fiduciary activities        
Noninterest income:        
Revenue from contracts with customers 553 493 1,086 999
Wealth management income        
Noninterest income:        
Revenue from contracts with customers $ 417 $ 231 $ 775 $ 618