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Consolidated Statements of Earnings (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income:        
Interest and fees on loans $ 11,003,000 $ 10,180,000 $ 21,667,000 $ 20,860,000
Interest on due from banks 48,000 41,000 83,000 84,000
Interest on fededal funds sold 0 22,000 0 145,000
Interest on investment securities:        
U.S. Government sponsored enterprises 682,000 651,000 1,220,000 1,336,000
State and political subdivisions 758,000 684,000 1,397,000 1,325,000
Other 26,000 60,000 72,000 138,000
Total interest income 12,517,000 11,638,000 24,439,000 23,888,000
Interest expense:        
NOW, MMDA & savings deposits 543,000 448,000 1,040,000 973,000
Time deposits 191,000 224,000 403,000 501,000
FHLB borrowings 0 102,000 0 166,000
Junior subordinated debentures 71,000 90,000 142,000 220,000
Others 37,000 48,000 72,000 93,000
Total interest expense 842,000 912,000 1,657,000 1,953,000
Net interest income 11,675,000 10,726,000 22,782,000 21,935,000
Provision for (recovery of) loan losses (226,000) 1,417,000 (681,000) 2,938,000
Net interest income after provision for loan losses 11,901,000 9,309,000 23,463,000 18,997,000
Non-interest income:        
Service charges 910,000 718,000 1,836,000 1,826,000
Other service charges and fees 171,000 162,000 383,000 355,000
Gain on sale of investment securities 0 457,000 0 457,000
Mortgage banking income 723,000 563,000 1,593,000 885,000
Insurance and brokerage commissions 238,000 205,000 498,000 447,000
Appraisal management fee income 2,005,000 1,734,000 3,821,000 3,084,000
Gain on sale of other real estate 21,000 0 21,000 0
Miscellaneous 1,972,000 1,400,000 3,761,000 2,780,000
Total non-interest income 6,040,000 5,239,000 11,913,000 9,834,000
Non-interest expense:        
Salaries and employee benefits 5,666,000 5,535,000 11,849,000 11,259,000
Occupancy 1,939,000 1,861,000 3,892,000 3,782,000
Professional fees 435,000 414,000 772,000 747,000
Advertising 154,000 196,000 297,000 414,000
Debit card expense 264,000 258,000 496,000 488,000
FDIC Insurance 164,000 48,000 196,000 88,000
Appraisal management fee expense 1,634,000 1,333,000 3,090,000 2,367,000
Other 1,876,000 1,807,000 3,808,000 3,756,000
Total non-interest expense 12,132,000 11,452,000 24,400,000 22,901,000
Earnings before income taxes 5,809,000 3,096,000 10,976,000 5,930,000
Income tax expense 1,194,000 535,000 2,240,000 1,002,000
Net earnings $ 4,615,000 $ 2,561,000 $ 8,736,000 $ 4,928,000
Basic net earnings per share $ 0.82 $ 0.46 $ 1.55 $ 0.87
Diluted net earnings per share 0.80 0.44 1.51 0.84
Cash dividends declared per share $ 0.16 $ 0.15 $ 0.32 $ 0.45