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Consolidated Statements of Earnings - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest income:      
Loans $ 33,612 $ 31,797 $ 27,669
Investment securities:      
Taxable 3,192 4,177 5,796
Tax-exempt 3,022 3,279 3,646
Total interest income 39,826 39,253 37,111
Interest expense:      
Deposits 1,023 2,105 5,341
Subordinated debentures 472 614 970
Borrowings 11 50 446
Total interest expense 1,506 2,769 6,757
Net interest income 38,320 36,484 30,354
Provision for loan losses 500 3,300 1,400
Net interest income after provision for loan losses 37,820 33,184 28,954
Non-interest income:      
Fees and service charges 8,857 8,091 7,737
Gains on sales of loans, net [1] 10,487 15,155 6,353
Increase in cash surrender value of bank owned life insurance [1] 686 611 752
Gains (losses) on sales of investment securities, net 1,138 2,448 (177)
Other 1,093 1,053 1,144
Total non-interest income 22,261 27,358 15,809
Non-interest expense:      
Compensation and benefits 20,157 20,657 17,792
Occupancy and equipment 4,482 4,432 4,470
Data processing 2,016 1,831 1,646
Amortization of mortgage servicing rights and other intangibles 1,601 1,602 1,206
Professional fees 1,831 1,584 1,683
Other 7,169 6,156 5,851
Total non-interest expense 37,256 36,262 32,648
Earnings before income taxes 22,825 24,280 12,115
Income tax expense 4,814 4,787 1,453
Net earnings $ 18,011 $ 19,493 $ 10,662
Earnings per share (1):      
Basic [2] $ 3.61 $ 3.91 $ 2.11
Diluted [2] $ 3.60 $ 3.91 $ 2.10
[1] Not within the scope of ASC 606.
[2] All per share amounts have been adjusted to give effect to the 5% stock dividends paid during December 2021, 2020 and 2019.