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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest and dividend income        
Loans, including fees $ 21,851 $ 22,653 $ 42,889 $ 45,436
Taxable securities 1,775 1,230 3,495 2,505
Tax-exempt securities 1,882 1,525 3,671 3,044
Deposits in other banks 556 90 675 239
Total interest and dividend income 26,064 25,498 50,730 51,224
Interest expense        
Deposits 710 1,136 1,415 2,396
Federal Home Loan Bank advances 193 330 383 774
Subordinated debentures 890 185 1,726 371
Securities sold under agreements to repurchase and other 3 6 6 14
Total interest expense 1,796 1,657 3,530 3,555
Net interest income 24,268 23,841 47,200 47,669
Provision for loan losses 400 0 700 830
Net interest income after provision for loan losses 23,868 23,841 46,500 46,839
Noninterest income        
Service charges 1,540 1,317 3,119 2,573
Net gain on sale of securities 6 1,784 6 1,783
Net gain on equity securities 39 53 89 141
Net gain on sale of loans 573 2,218 1,509 4,963
ATM/Interchange fees 1,355 1,373 2,596 2,620
Wealth management fees 1,228 1,188 2,505 2,334
Bank owned life insurance 233 248 477 491
Tax refund processing fees 475 475 2,375 2,375
Swap fees   17   94
Other 186 352 602 841
Total noninterest income 5,635 9,025 13,278 18,215
Noninterest expense        
Compensation expense 11,947 11,406 24,170 23,188
Net occupancy expense 1,026 1,007 2,176 2,231
Equipment expense 562 482 1,057 896
Contracted data processing 433 490 1,053 933
FDIC assessment 195 322 398 582
State franchise tax 628 471 1,219 1,096
Professional services 1,209 741 2,258 1,479
Amortization of intangible assets 217 223 434 445
ATM/Interchange expense 542 656 1,055 1,249
Marketing 380 343 697 641
Software maintenance expense 790 545 1,498 1,053
Other operating expenses 2,450 5,578 4,622 7,658
Total noninterest expense 20,379 22,264 40,637 41,451
Income before taxes 9,124 10,602 19,141 23,603
Income tax expense 1,423 1,438 2,974 3,681
Net Income $ 7,701 $ 9,164 $ 16,167 $ 19,922
Earnings per common share, basic $ 0.53 $ 0.59 $ 1.10 $ 1.27
Earnings per common share, diluted $ 0.53 $ 0.59 $ 1.10 $ 1.27
Weighted average common shares, basic 14,540,868 15,529,766 14,696,217 15,674,231
Weighted average common shares, diluted 14,540,868 15,529,766 14,696,217 15,674,231