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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest and dividend income:    
Loans, including fees $ 14,617 $ 14,228
Taxable securities 1,802 1,487
Tax exempt securities 261 271
Interest-earning deposits 60 398
Total interest and dividend income 16,740 16,384
Interest expense:    
Deposits 921 1,286
Borrowed funds 33 36
Total interest expense 954 1,322
Net interest income 15,786 15,062
Provision for loan losses (259) 3,050
Net interest income after provision for loan losses 16,045 12,012
Non-interest income:    
Changes in fair value of equity investments 86 (246)
Net gains on sales of loans held for sale 300 75
Net gains (losses) on sales of other real estate owned (18) (29)
Income from bank-owned life insurance 15 119
Other 720 667
Total non-interest income 5,621 4,730
Non-interest expenses:    
Salaries and wages 5,762 5,768
Pension and other employee benefits 1,459 1,516
Other components of net periodic pension and postretirement benefits (391) (265)
Net occupancy 1,523 1,522
Furniture and equipment 366 475
Data processing 2,003 1,914
Professional services 454 329
Amortization of intangible assets 101 132
Marketing and advertising 126 324
Other real estate owned 12 29
FDIC insurance 390 250
Loan expense 234 310
Other 1,314 1,445
Total non-interest expenses 13,353 13,749
Income before income tax expense 8,313 2,993
Income tax expense 1,783 502
Net income $ 6,530 $ 2,491
Weighted average shares outstanding (in shares) 4,691 4,895
Basic and diluted earnings per share (in dollars per share) $ 1.39 $ 0.51
WMG fee income    
Non-interest income:    
Revenue from contract with customer, excluding assessed tax $ 2,678 $ 2,229
Service charges on deposit accounts    
Non-interest income:    
Revenue from contract with customer, excluding assessed tax 717 990
Interchange revenue from debit card transactions    
Non-interest income:    
Revenue from contract with customer, excluding assessed tax $ 1,123 $ 925