XML 14 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income        
Loans, including fees $ 10,821 $ 5,390 $ 21,063 $ 10,670
Securities:        
Taxable 1,557 767 3,414 1,527
Tax exempt 478 358 846 727
Other 7 39 201 107
Total interest income 12,863 6,554 25,524 13,031
Interest expense        
Deposits 898 924 2,283 1,775
Advances from Federal Home Loan Bank 81 115 217 230
Other 5 14 7 29
Total interest expense 984 1,053 2,507 2,034
Net interest income 11,879 5,501 23,017 10,997
Provision for loan losses 1,000 0 1,775 0
Net interest income after provision for loan losses 10,879 5,501 21,242 10,997
Noninterest income        
Customer service charges 1,402 1,148 3,247 2,181
Insurance and investment commissions 153 74 279 137
Gains on sales of loans 2,996 489 4,739 735
Net gains on sales of securities 1,341 2 1,343 3
Net gains on sales and write-downs of other assets 3 2 5 15
Earnings on life insurance policies 192 95 384 191
Trust income 202 0 372 0
Change in market value of equity securities 443 80 54 266
Other 19 139 260 258
Total noninterest income 6,751 2,029 10,683 3,786
Salaries and benefits 6,359 2,870 11,487 5,647
Occupancy and equipment 1,359 741 2,629 1,512
Data processing 1,568 582 3,052 1,138
Professional fees 914 678 1,676 1,195
Supplies and postage 282 75 507 175
Advertising and promotional 144 108 292 152
Intangible amortization 354 0 707 0
FDIC insurance 69 45 137 88
Other 1,101 663 2,079 1,189
Total noninterest expense 12,150 5,762 22,566 11,096
Income before income tax 5,480 1,768 9,359 3,687
Income tax expense 1,050 281 1,675 564
Net income $ 4,430 $ 1,487 $ 7,684 $ 3,123
Basic earnings per share (Note 4) (in dollars per share) $ 0.61 $ 0.41 $ 1.06 $ 0.86
Diluted earnings per share (Note 4) (in dollars per share) 0.61 0.41 1.06 0.86
Dividends declared, per share (in dollars per share) $ 0.20 $ 0.20 $ 0.40 $ 0.40