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Consolidated Statement of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
INTEREST AND DIVIDEND INCOME        
Interest and fees on loans $ 12,258,000 $ 12,603,000 $ 36,310,000 $ 36,962,000
Interest-earning deposits in other institutions 30,000 8,000 60,000 109,000
Federal funds sold 1,000 0 2,000 21,000
Investment securities:        
Taxable interest 461,000 249,000 1,241,000 612,000
Tax-exempt interest 673,000 618,000 1,833,000 1,881,000
Dividends on stock 24,000 29,000 79,000 86,000
Total interest and dividend income 13,447,000 13,507,000 39,525,000 39,671,000
INTEREST EXPENSE        
Deposits 915,000 2,106,000 3,130,000 7,307,000
Short-term borrowings 0 14,000 0 81,000
Other borrowings 37,000 28,000 115,000 166,000
Total interest expense 952,000 2,148,000 3,245,000 7,554,000
NET INTEREST INCOME 12,495,000 11,359,000 36,280,000 32,117,000
Provision for loan losses 0 4,000,000 900,000 7,740,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 12,495,000 7,359,000 35,380,000 24,377,000
NONINTEREST INCOME        
Gain (loss) on equity securities [1] 102,000 (28,000) 223,000 (157,000)
Earnings on bank-owned life insurance [1] 108,000 109,000 440,000 321,000
Gain on sale of loans [1] 309,000 660,000 1,122,000 1,155,000
Total noninterest income 1,821,000 1,811,000 5,671,000 4,380,000
NONINTEREST EXPENSE        
Salaries and employee benefits 4,488,000 3,477,000 13,063,000 11,197,000
Occupancy expense 457,000 497,000 1,606,000 1,530,000
Equipment expense 333,000 363,000 1,003,000 943,000
Data processing costs 736,000 683,000 2,220,000 2,033,000
Ohio state franchise tax 287,000 282,000 859,000 831,000
Federal deposit insurance expense 150,000 123,000 444,000 320,000
Professional fees 136,000 289,000 878,000 1,007,000
Net loss (gain) on other real estate owned 9,000 (225,000) 77,000 (257,000)
Advertising expense 222,000 217,000 664,000 643,000
Software amortization expense 88,000 70,000 242,000 285,000
Core deposit intangible amortization 81,000 83,000 241,000 249,000
Other expense 951,000 1,163,000 2,920,000 3,182,000
Total noninterest expense 7,938,000 7,022,000 24,217,000 21,963,000
Income before income taxes 6,378,000 2,148,000 16,834,000 6,794,000
Income taxes 1,174,000 295,000 3,038,000 934,000
NET INCOME $ 5,204,000 $ 1,853,000 $ 13,796,000 $ 5,860,000
EARNINGS PER SHARE        
Basic (in dollars per share) $ 0.85 $ 0.29 $ 2.20 $ 0.92
Diluted (in dollars per share) $ 0.85 $ 0.29 $ 2.19 $ 0.92
Deposit Account [Member]        
NONINTEREST INCOME        
Noninterest income revenue $ 876,000 $ 691,000 $ 2,519,000 $ 1,810,000
Financial Service, Other [Member]        
NONINTEREST INCOME        
Noninterest income revenue $ 426,000 $ 379,000 $ 1,367,000 $ 1,251,000
[1] Not within scope of ASC 606