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Consolidated Statements of Earnings (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest income:    
Loans $ 7,191 $ 8,404
Investment securities:    
Taxable 1,053 811
Tax-exempt 722 778
Total interest income 8,966 9,993
Interest expense:    
Deposits 195 281
Borrowings 126 121
Total interest expense 321 402
Net interest income 8,645 9,591
Provision for (reversal of) loan losses (500) 500
Net interest income after provision for loan losses 9,145 9,091
Non-interest income:    
Fees and service charges 2,188 2,033
Gains on sales of loans, net [1] 905 3,140
Bank owned life insurance [1] 187 148
Gains on sales of investment securities, net 1,075
Other 283 329
Total non-interest income 3,563 6,725
Non-interest expense:    
Compensation and benefits 4,775 4,941
Occupancy and equipment 1,233 1,062
Data processing 340 501
Amortization of mortgage servicing rights and other intangibles 316 437
Professional fees 451 392
Other 1,723 1,740
Total non-interest expense 8,838 9,073
Earnings before income taxes 3,870 6,743
Income tax expense 737 1,376
Net earnings $ 3,133 $ 5,367
Earnings per share:    
Basic (1) [2],[3] $ 0.63 $ 1.08
Diluted (1) [2],[3] 0.62 1.08
Dividends per share (1) [2] $ 0.21 $ 0.19
[1] Not within the scope of ASC 606.
[2] Per share amounts for the periods ended March 31, 2021 have been adjusted to give effect to the 5% stock dividend paid during December 2021.
[3] Share and per share values for the periods ended March 31, 2021 have been adjusted to give effect to the