XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Interest income    
Loans, including fees $ 10,075 $ 5,280
Securities:    
Taxable 1,857 760
Tax exempt 368 369
Other 194 68
Total interest income 12,494 6,477
Interest expense    
Deposits 1,385 851
Advances from Federal Home Loan Bank 136 116
Other 2 14
Total interest expense 1,523 981
Net interest income 10,971 5,496
Provision for loan losses 775  
Net interest income after provision for loan losses 10,196 5,496
Noninterest income    
Customer service charges 1,845 1,033
Insurance and investment commissions 126 63
Gains on sales of loans 1,743 246
Net gains on sales of securities 2 1
Net gains on sales and write-downs of other assets 2 13
Earnings on life insurance policies 192 96
Trust income 170  
Change in market value of equity securities (389) 187
Other 408 119
Total noninterest income 4,099 1,758
Noninterest expense    
Salaries and benefits 5,128 2,777
Occupancy and equipment 1,270 771
Data processing 1,484 556
Professional fees 762 517
Supplies and postage 225 100
Advertising and promotional 148 44
Intangible amortization 353  
FDIC insurance 68  
Other 978 569
Total noninterest expense 10,416 5,334
Income before income tax 3,879 1,920
Income tax expense 625 283
Net income $ 3,254 $ 1,637
Basic earnings per share (Note 4) (in dollars per share) $ 0.45 $ 0.45
Diluted earnings per share (Note 4) (in dollars per share) 0.45 0.45
Dividends declared per share (in dollars per share) $ 0.20 $ 0.20