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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest and dividend income:        
Loans, including fees $ 14,666 $ 14,570 $ 28,894 $ 29,059
Taxable securities 1,397 1,281 2,884 2,476
Tax exempt securities 265 306 536 579
Interest-earning deposits 144 525 542 1,233
Total interest and dividend income 16,472 16,682 32,856 33,347
Interest expense:        
Deposits 827 1,544 2,113 3,005
Borrowed funds 54 37 90 74
Total interest expense 881 1,581 2,203 3,079
Net interest income 15,591 15,101 30,653 30,268
Provision for loan losses 260 150 3,310 1,243
Net interest income after provision for loan losses 15,331 14,951 27,343 29,025
Non-interest income:        
Net gains on security transactions 0 19 0 19
Changes in fair value of equity investments 156 27 (90) 116
Net gains on sales of loans held for sale 288 29 363 77
Net gains (losses) on sales of other real estate owned (48) (3) (77) (86)
Income from bank-owned life insurance 14 16 133 31
Other 801 365 1,468 810
Other non-interest income 5,080 5,086 9,810 10,011
Non-interest expenses:        
Salaries and wages 5,822 5,780 11,590 11,501
Pension and other employee benefits 1,334 1,473 2,850 3,018
Other components of net periodic pension and postretirement benefits (243) (141) (508) (282)
Net occupancy 1,430 1,478 2,952 3,045
Furniture and equipment 560 595 1,035 1,123
Data processing 1,939 1,873 3,853 3,600
Professional services 531 418 860 823
Amortization of intangible assets 119 151 251 314
Marketing and advertising 82 145 406 413
Other real estate owned 5 40 34 71
FDIC insurance 229 221 479 486
Loan expense 187 190 497 386
Other 1,232 1,600 2,677 2,822
Total non-interest expenses 13,227 13,823 26,976 27,320
Income before income tax expense 7,184 6,214 10,177 11,716
Income tax expense 1,357 1,233 1,859 2,267
Net income $ 5,827 $ 4,981 $ 8,318 $ 9,449
Weighted average shares outstanding (in shares) 4,850 4,866 4,868 4,863
Basic and diluted earnings per share (in dollars per share) $ 1.20 $ 1.02 $ 1.71 $ 1.94
WMG fee income        
Non-interest income:        
Revenue from contract with customer, excluding assessed tax $ 2,323 $ 2,524 $ 4,552 $ 4,800
Service charges on deposit accounts        
Non-interest income:        
Revenue from contract with customer, excluding assessed tax 564 1,085 1,554 2,189
Interchange revenue from debit card transactions        
Non-interest income:        
Revenue from contract with customer, excluding assessed tax $ 982 $ 1,024 $ 1,907 $ 2,055