XML 15 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements Of Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest and dividend income        
Loans and leases, including fees $ 12,397 $ 10,504 $ 38,452 $ 30,015
Securities 230 40 529 125
FHLB and FRB stock dividends 55 51 167 145
Federal funds sold and other 21 22 73 146
Total interest and dividend income 12,703 10,617 39,221 30,431
Interest expense        
Deposits 1,777 2,803 6,382 9,120
FHLB advances and other debt 289 447 1,096 1,051
Subordinated debentures 224 226 673 713
Total interest expense 2,290 3,476 8,151 10,884
Net interest income 10,413 7,141 31,070 19,547
Provision for loan and lease losses 5,750 (1,600) 8,875
Net interest income after provision for loan and lease losses 10,413 1,391 32,670 10,672
Noninterest income        
Service charges on deposit accounts 213 161 612 451
Net gains (losses) on sales of residential mortgage loans (268) 23,087 5,348 45,556
Net gains (losses) on sales of SBA loans (1)   1,158  
Swap fee income   28 182 435
Gain on redemption of life insurance policies     383  
Earnings on bank owned life insurance 142 36 370 108
Gain on sale of deposits 1,893   1,893  
Other 98 64 312 126
Total noninterest income 2,077 23,376 10,258 46,676
Noninterest expense        
Salaries and employee benefits 4,250 7,352 13,410 16,647
Occupancy and equipment 254 254 835 754
Data processing 520 434 1,580 1,308
Franchise and other taxes 241 180 723 543
Professional fees 959 1,358 3,555 3,545
Director fees 156 134 466 513
Postage, printing and supplies 34 19 120 135
Advertising and marketing 45 1,613 2,572 4,136
Telephone 65 59 191 165
Loan expenses 99 72 187 234
Depreciation 108 98 311 278
FDIC premiums 476 150 1,095 441
Regulatory assessment 66 46 196 136
Other insurance 45 25 113 79
Other 111 123 311 360
Total noninterest expense 7,429 11,917 25,665 29,274
Income before incomes taxes 5,061 12,850 17,263 28,074
Income tax expense 985 2,664 3,277 5,814
Net income 4,076 10,186 13,986 22,260
Earnings allocated to participating securities (Series C preferred stock)       (2,289)
Net income attributable to common stockholders $ 4,076 $ 10,186 $ 13,986 $ 19,971
Earnings per common share:        
Basic $ 0.63 $ 1.56 $ 2.14 $ 3.41
Diluted $ 0.61 $ 1.54 $ 2.10 $ 3.36