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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Interest income      
Loans, including fees $ 46,874 $ 26,777 $ 20,033
Securities:      
Taxable 5,891 3,956 2,896
Tax exempt 2,684 1,472 1,465
Other 266 268 131
Total interest income 55,715 32,473 24,525
Interest expense      
Deposits 4,178 4,188 2,175
Advances from Federal Home Loan Bank 220 455 235
Other 246 57 51
Total interest expense 4,644 4,700 2,461
Net interest income 51,071 27,773 22,064
Provision for loan losses 4,000 0 35
Net interest income after provision for loan losses 47,071 27,773 22,029
Noninterest income      
Customer service charges 7,252 5,277 4,525
Insurance and investment commissions 541 310 335
Mortgage servicing rights (Note 4) 3,180 822 441
Gains on sales of loans (Note 4) 8,133 1,129 562
Net gains on sales of securities (Note 2) 1,308 22 34
Net (losses) gains on sales and write-downs of other assets (Note 7) (13) 55 83
Earnings on life insurance policies 772 773 385
Trust income 739 162 0
Net gains and losses recognized during the period (155) 0 71
Other 941 618 484
Total noninterest income 22,698 9,168 6,920
Salaries and benefits (Note 13 and 14) 26,539 14,401 10,997
Occupancy and equipment (Note 5) 5,783 3,557 2,722
Data processing 6,765 3,210 2,205
Professional fees 3,716 3,112 1,349
Supplies and postage 844 407 408
Advertising and promotional 588 528 308
Intangible amortization (Note 6) 1,498 353 0
FDIC insurance 450 45 185
Other 4,701 2,863 2,287
Total noninterest expense 50,884 28,476 20,461
Income before income tax 18,885 8,465 8,488
Income tax expense 3,272 1,294 1,155
Net income $ 15,613 $ 7,171 $ 7,333
Basic earnings per share (Note 15) (in dollars per share) $ 2.08 $ 1.58 $ 2.03
Diluted earnings per share (Note 15) (in dollars per share) 2.07 1.58 2.02
Dividends declared per share (in dollars per share) $ 0.82 $ 1.40 $ 0.71