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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
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 $ 9,215 $ 7,568 $ 23,432 $ 22,187
Interest on deposits in banks 79 25 149 159
Interest on federal funds sold 8 0 8 0
Interest and dividends on securities:        
Taxable interest 766 575 2,180 1,881
Tax-exempt interest 242 152 637 454
Dividends 21 23 65 75
Total interest and dividend income 10,331 8,343 26,471 24,756
Interest Expense        
Interest on deposits 369 541 1,060 2,179
Interest on subordinated debt 156 160 464 341
Interest on junior subordinated debt 68 68 202 225
Total interest expense 593 769 1,726 2,745
Net interest income 9,738 7,574 24,745 22,011
(Recovery of) provision for loan losses 0 1,500 (1,000) 3,200
Net interest income after (recovery of) provision for loan losses 9,738 6,074 25,745 18,811
Noninterest Income        
Noninterest income 2,430 2,011 6,495 5,590
Income from bank owned life insurance 162 131 374 345
Net gains on securities available for sale 0 38 37 38
Net gains on sale of loans 0 3 25 60
Other operating income 56 18 295 49
Total noninterest income 2,648 2,201 7,226 6,082
Noninterest Expense        
Salaries and employee benefits 5,446 3,498 12,694 10,109
Occupancy 500 433 1,346 1,244
Equipment 519 439 1,383 1,267
Marketing 243 63 487 243
Supplies 176 112 341 304
Legal and professional fees 586 262 1,806 842
ATM and check card expense 329 259 828 727
FDIC assessment 87 52 234 142
Bank franchise tax 153 162 493 476
Data processing expense 465 191 885 563
Amortization expense 5 33 24 127
Other operating expense 917 631 2,185 1,857
Total noninterest expense 9,426 6,135 22,706 17,901
Income before income taxes 2,960 2,140 10,265 6,992
Income tax expense 562 386 2,089 1,290
Net income $ 2,398 $ 1,754 $ 8,176 $ 5,702
Earnings per common share        
Basic (in dollars per share) $ 0.39 $ 0.36 $ 1.54 $ 1.17
Diluted (in dollars per share) $ 0.38 $ 0.36 $ 1.53 $ 1.17
Deposit Account [Member]        
Noninterest Income        
Noninterest income $ 547 $ 446 $ 1,436 $ 1,475
Credit and Debit Card [Member]        
Noninterest Income        
Noninterest income 753 669 2,036 1,738
Asset Management [Member]        
Noninterest Income        
Noninterest income 696 573 1,996 1,610
Financial Service, Other [Member]        
Noninterest Income        
Noninterest income $ 434 $ 323 $ 1,027 $ 767