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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income        
Loans, including fees $ 12,408 $ 13,047 $ 36,655 $ 34,110
Securities:        
Taxable 2,821 1,150 7,073 4,564
Tax exempt 1,459 914 4,002 1,760
Other 38 40 70 241
Total interest income 16,726 15,151 47,800 40,675
Interest expense        
Deposits 837 946 2,556 3,229
Advances from Federal Home Loan Bank 18 1 21 218
Other 171 142 327 149
Total interest expense 1,026 1,089 2,904 3,596
Net interest income 15,700 14,062 44,896 37,079
Provision for loan losses 0 1,225 416 3,000
Net interest income after provision for loan losses 15,700 12,837 44,480 34,079
Noninterest income        
Customer service charges 2,255 2,059 6,309 5,306
Insurance and investment commissions 153 137 624 416
Gains on sales of loans 1,798 3,617 5,715 8,356
Net gains (losses) on sales of securities 0 (35) 3 1,308
Earnings on life insurance policies 194 193 570 577
Trust income 187 197 612 569
Change in market value of equity securities (28) (238) 461 (184)
Other 159 396 756 661
Total noninterest income 4,718 6,326 15,050 17,009
Noninterest expense        
Salaries and benefits 7,552 8,058 21,719 19,545
Occupancy and equipment 1,538 1,556 4,591 4,185
Data processing 1,471 1,585 4,573 4,637
Professional fees 754 1,221 2,426 2,897
Supplies and postage 171 178 395 685
Advertising and promotional 183 148 535 440
Intangible amortization 346 395 1,005 1,102
FDIC insurance 225 154 533 291
Other 1,266 1,254 3,386 3,333
Total noninterest expense 13,506 14,549 39,163 37,115
Income before income tax 6,912 4,614 20,367 13,973
Income tax expense 1,163 785 3,337 2,460
Net income $ 5,749 $ 3,829 $ 17,029 $ 11,513
Basic earnings per share (Note 4) (in dollars per share) $ 0.75 $ 0.49 $ 2.20 $ 1.55
Diluted earnings per share (Note 4) (in dollars per share) 0.75 0.49 2.20 1.55
Dividends declared per share (in dollars per share) $ 0.25 $ 0.20 $ 0.69 $ 0.60