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Consolidated Statement of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income        
Interest and fees on loans $ 12,940 $ 12,529 $ 39,192 $ 37,215
Interest on investment securities: Taxable 960 1,416 3,612 4,333
Interest on investment securities: Exempt from federal income tax 276 249 809 771
Total investment income 1,236 1,665 4,421 5,104
Other 77 406 360 764
Total interest income 14,253 14,600 43,973 43,083
Interest expense        
Interest on deposits 1,515 2,064 4,997 5,800
Interest on short-term borrowings 19 27 68 158
Interest on long-term borrowings 817 913 2,463 2,656
Total interest expense 2,351 3,004 7,528 8,614
Net interest income 11,902 11,596 36,445 34,469
Provision for loan losses 160 (13) 4,981 669
Net interest income after provision for loan losses 11,742 11,609 31,464 33,800
Other operating income        
Net gains 1,176 89 2,011 185
Total other income 3,978 4,979 11,411 12,544
Total other operating income 5,154 5,068 13,422 12,729
Other operating expenses        
Salaries and employee benefits 5,378 6,280 16,244 18,644
FDIC premiums 201 43 404 337
Equipment 978 956 2,871 2,775
Occupancy 707 694 2,200 2,112
Data processing 1,130 984 3,155 2,979
Marketing 122 110 405 274
Professional services 602 254 2,506 776
Contract labor 180 171 480 502
Line rentals 216 226 654 641
Other real estate owned 6 337 3 1,266
Investor relations 54 36 1,160 146
Other 966 1,155 2,890 3,225
Total other operating expenses 10,540 11,246 32,972 33,677
Income before income tax expense 6,356 5,431 11,914 12,852
Provision for income tax expense 1,396 938 2,629 2,605
Net Income $ 4,960 $ 4,493 $ 9,285 $ 10,247
Basic net income per share $ 0.70 $ 0.63 $ 1.32 $ 1.44
Diluted net income per share $ 0.70 $ 0.63 $ 1.32 $ 1.44
Weighted average number of basic shares outstanding 6,988,000 7,107,000 7,008,000 7,098,000
Weighted average number of diluted shares outstanding 6,993,000 7,107,000 7,019,000 7,098,000
Dividends declared per common share $ 0.13 $ 0.13 $ 0.39 $ 0.31
Service Charges on Deposit Accounts [Member]        
Other operating income        
Total other income $ 447 $ 578 $ 1,439 $ 1,652
Other Service Charges [Member]        
Other operating income        
Total other income 195 225 517 607
Trust Department [Member]        
Other operating income        
Total other income 1,871 1,798 5,355 5,345
Debit Card Income [Member]        
Other operating income        
Total other income 738 679 2,052 1,955
Bank Owned Life Insurance [Member]        
Other operating income        
Total other income 373 1,379 961 1,970
Brokerage Commissions [Member]        
Other operating income        
Total other income 234 205 713 646
Other [Member]        
Other operating income        
Total other income $ 120 $ 115 $ 374 $ 369