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Consolidated Statements of Earnings (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest income:    
Loans $ 8,404 $ 7,126
Investment securities:    
Taxable 811 1,344
Tax-exempt 778 848
Total interest income 9,993 9,318
Interest expense:    
Deposits 281 983
Borrowings 121 233
Total interest expense 402 1,216
Net interest income 9,591 8,102
Provision for loan losses 500 1,200
Net interest income after provision for loan losses 9,091 6,902
Non-interest income:    
Fees and service charges 2,033 1,962
Gains on sales of loans, net [1] 3,140 1,193
Bank owned life insurance [1] 148 154
Gains on sales of investment securities, net 1,075 1,770
Other 329 274
Total non-interest income 6,725 5,353
Non-interest expense:    
Compensation and benefits 4,941 4,582
Occupancy and equipment 1,062 1,079
Data processing 501 425
Amortization of mortage servicing rights and intangibles 437 277
Professional fees 392 363
Other 1,740 1,381
Total non-interest expense 9,073 8,107
Earnings before income taxes 6,743 4,148
Income tax expense 1,376 785
Net earnings $ 5,367 $ 3,363
Earnings per share (1):    
Basic (1) [2] $ 1.13 $ 0.70
Diluted (1) [2] 1.13 0.70
Dividends per share (1) [2] $ 0.20 $ 0.19
[1] Not within the scope of ASC 606.
[2] Per share amounts for the period ended March 31, 2020 have been adjusted to give effect to the 5% stock dividend paid during December 2020.