XML 13 R4.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income        
Loans, including fees $ 12,523 $ 11,565 $ 24,821 $ 24,247
Securities:        
Taxable 3,522 2,396 7,029 4,252
Tax exempt 1,559 1,446 3,214 2,543
Other 62 12 76 32
Total interest income 17,666 15,419 35,140 31,074
Interest expense        
Deposits 996 839 1,779 1,719
Advances from Federal Home Loan Bank 2 2 3 3
Other 379 70 748 156
Total interest expense 1,377 911 2,530 1,878
Net interest income 16,289 14,508 32,610 29,196
Provision for loan losses 0 166 0 416
Net interest income after provision for loan losses 16,289 14,342 32,610 28,780
Noninterest income        
Customer service charges 2,353 2,134 4,542 4,054
Insurance and investment commissions 233 198 438 471
Gains on sales of loans 887 1,771 1,691 3,917
Net gains (losses) on sales of securities (427) 2 (427) 3
Net gains on sales and write downs of other assets 1 (4) 172 1
Earnings on life insurance policies 254 191 534 377
Trust income 176 253 354 425
Change in market value of equity securities (327) (119) (683) 489
Other 280 306 655 595
Total noninterest income 3,430 4,732 7,276 10,332
Noninterest expense        
Salaries and benefits 7,537 6,999 15,143 14,167
Occupancy and equipment 1,518 1,498 3,143 3,053
Data processing 1,578 1,673 3,322 3,102
Professional fees 559 943 1,069 1,672
Supplies and postage 166 124 357 224
Advertising and promotional 147 207 279 352
Intangible amortization 322 352 604 659
FDIC insurance 225 156 450 308
Other 1,105 1,177 2,480 2,120
Total noninterest expense 13,157 13,129 26,847 25,657
Income before income tax 6,562 5,945 13,039 13,455
Income tax expense 947 902 1,896 2,174
Net income $ 5,615 $ 5,043 $ 11,143 $ 11,281
Basic earnings per share (Note 4) (in dollars per share) $ 0.75 $ 0.65 $ 1.49 $ 1.45
Diluted earnings per share (Note 4) (in dollars per share) 0.75 0.65 1.49 1.45
Dividends declared per share (in dollars per share) $ 0.25 $ 0.22 $ 0.50 $ 0.44