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Consolidated Statements of Earnings (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income:        
Loans $ 8,840 $ 7,766 $ 17,244 $ 14,892
Investment securities:        
Taxable 763 1,046 1,574 2,390
Tax-exempt 759 829 1,537 1,677
Total interest income 10,362 9,641 20,355 18,959
Interest expense:        
Deposits 261 461 542 1,444
Borrowings 121 165 242 398
Total interest expense 382 626 784 1,842
Net interest income 9,980 9,015 19,571 17,117
Provision for loan losses 400 500 1,600
Net interest income after provision for loan losses 9,980 8,615 19,071 15,517
Non-interest income:        
Fees and service charges 2,153 1,754 4,186 3,716
Gains on sales of loans, net [1] 2,864 4,824 6,004 6,017
Bank owned life insurance [1] 153 154 301 308
Gains on sales of investment securities, net 33 1,108 1,770
Other 270 240 599 514
Total non-interest income 5,473 6,972 12,198 12,325
Non-interest expense:        
Compensation and benefits 5,023 5,253 9,964 9,835
Occupancy and equipment 1,105 1,063 2,167 2,142
Data processing 492 439 993 864
Amortization of mortgage servicing rights and intangibles 412 424 849 701
Professional fees 431 351 823 714
Other 1,727 1,586 3,467 2,967
Total non-interest expense 9,190 9,116 18,263 17,223
Earnings before income taxes 6,263 6,471 13,006 10,619
Income tax expense 1,283 1,371 2,659 2,156
Net earnings $ 4,980 $ 5,100 $ 10,347 $ 8,463
Earnings per share:        
Basic (1) [2] $ 1.05 $ 1.08 $ 2.18 $ 1.78
Diluted (1) [2] 1.04 1.08 2.17 1.77
Dividends per share (1) [2] $ 0.20 $ 0.19 $ 0.40 $ 0.38
[1] Not within the scope of ASC 606.
[2] Per share amounts for the periods ended June 30, 2020 have been adjusted to give effect to the 5% stock dividend paid during December 2020.