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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income        
Loans, including fees $ 5,390 $ 5,028 $ 10,670 $ 9,624
Securities:        
Taxable 767 713 1,527 1,398
Tax exempt 358 362 727 723
Other 39 12 107 69
Total interest income 6,554 6,115 13,031 11,814
Interest expense        
Deposits 924 463 1,775 809
Advances from Federal Home Loan Bank 115 57 230 102
Other 14 25 29 26
Total interest expense 1,053 545 2,034 937
Net interest income 5,501 5,570 10,997 10,877
Provision for loan losses       35
Net interest income after provision for loan losses 5,501 5,570 10,997 10,842
Noninterest income        
Customer service charges 1,148 1,120 2,181 2,175
Insurance and investment commissions 74 72 137 134
Gains on sales of loans 489 288 735 549
Gains on sales of securities 2 16 3 25
Gains on sales of other assets 2 15 8
Earnings on life insurance policies 95 98 191 192
Change in market value of equity securities 80 26 266 49
Other 139 101 258 237
Total noninterest income 2,029 1,721 3,786 3,369
Noninterest expense        
Salaries and benefits 2,870 2,779 5,647 5,528
Occupancy and equipment 741 664 1,512 1,344
Data processing 582 555 1,138 1,089
Professional fees 678 311 1,195 528
Supplies and postage 75 97 175 213
Advertising and promotional 108 85 152 177
Other 708 623 1,277 1,199
Total noninterest expense 5,762 5,114 11,096 10,078
Income before income tax 1,767 2,177 3,687 4,133
Income tax expense 281 344 564 642
Net income $ 1,487 $ 1,833 $ 3,123 $ 3,491
Basic earnings per share (Note 4) (in dollars per share) $ 0.41 $ 0.51 $ 0.86 $ 0.97
Diluted earnings per share (Note 4) (in dollars per share) 0.41 0.50 0.86 0.96
Dividends declared per share (in dollars per share) $ 0.20 $ 0.18 $ 0.40 $ 0.35