XML 36 R4.htm IDEA: XBRL DOCUMENT v3.19.3
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest and dividend income:        
Loans, including fees $ 14,664 $ 14,580 $ 43,723 $ 42,930
Taxable securities 1,349 1,200 3,825 3,753
Tax exempt securities 293 272 872 875
Interest-earning deposits 502 84 1,735 116
Total interest and dividend income 16,808 16,136 50,155 47,674
Interest expense:        
Deposits 1,629 858 4,634 1,967
Securities sold under agreements to repurchase 0 0 0 137
Borrowed funds 37 199 111 574
Total interest expense 1,666 1,057 4,745 2,678
Net interest income 15,142 15,079 45,410 44,996
Provision for loan losses 4,441 300 5,684 3,371
Net interest income after provision for loan losses 10,701 14,779 39,726 41,625
Non-interest income:        
Net gains on security transactions 0 0 19 0
Changes in fair value of equity investments (10) 2,141 106 2,165
Net gains on sales of loans held for sale 69 79 146 184
Net gains (losses) on sales of other real estate owned (1) 123 (87) 119
Income from bank-owned life insurance 17 17 48 50
Other 367 402 1,177 2,016
Total non-interest income 4,956 7,381 14,967 18,181
Non-interest expenses:        
Salaries and wages 5,874 5,691 17,375 16,969
Pension and other employee benefits 1,470 1,262 4,488 4,438
Other components of net periodic pension and postretirement benefits (141) (408) (423) (1,224)
Net occupancy 1,424 1,671 4,469 4,922
Furniture and equipment 717 581 1,840 1,941
Data processing 1,818 1,782 5,418 5,288
Professional services 395 479 1,218 1,527
Legal accruals and settlements 0 0 0 989
Amortization of intangible assets 151 182 465 558
Marketing and advertising 231 212 644 816
Other real estate owned 9 83 80 321
FDIC insurance (10) 263 476 881
Loan expense 171 262 557 615
Other 1,416 1,368 4,238 4,520
Total non-interest expenses 13,525 13,428 40,845 42,561
Income before income tax expense 2,132 8,732 13,848 17,245
Income tax expense 176 1,802 2,443 3,349
Net income $ 1,956 $ 6,930 $ 11,405 $ 13,896
Weighted average shares outstanding (in shares) 4,871 4,834 4,866 4,828
Basic and diluted earnings per share (in dollars per share) $ 0.40 $ 1.43 $ 2.34 $ 2.88
WMG fee income        
Non-interest income:        
Revenue from contract with customer, excluding assessed tax $ 2,315 $ 2,406 $ 7,115 $ 7,095
Service charges on deposit accounts        
Non-interest income:        
Revenue from contract with customer, excluding assessed tax 1,141 1,231 3,330 3,539
Interchange revenue from debit card transactions        
Non-interest income:        
Revenue from contract with customer, excluding assessed tax $ 1,058 $ 982 $ 3,113 $ 3,013