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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest and dividend income        
Loans, including fees $ 15,371 $ 14,248 $ 46,112 $ 42,045
Securities 508 627 1,712 1,637
Other 749 498 1,852 1,459
Total interest income 16,628 15,373 49,676 45,141
Interest expense        
Deposits 3,385 2,278 10,023 5,632
Borrowings 1 130 89 542
Borrowings 3,386 2,408 10,112 6,174
Net interest income 13,242 12,965 39,564 38,967
Provision for (recovery of) loan losses 134 23 (3,736) 258
Net interest income after provision for (recovery of) loan losses 13,376 12,988 35,828 39,225
Noninterest income        
Income from product and service 983 1,003 2,887 2,970
Loan servicing fees 99 71 178 231
Mortgage brokerage and banking fees 28 46 77 226
Gain (loss) on sale of equity securities 0 0 295 (14)
Loss on disposal of other assets 0 0 0 93
Gain (Loss) on Disposition of Other Assets 0 0 (19) 0
Trust and insurance commissions and annuities income 198 207 627 670
Earnings on bank-owned life insurance (37) (35) (105) (146)
Bank-owned life insurance death benefit 0 0 0 1,389
Other 129 208 374 492
Total noninterest income 1,474 1,570 4,524 6,203
Noninterest expense        
Compensation and benefits 5,218 5,120 16,128 16,232
Office occupancy and equipment 1,877 1,629 5,343 5,022
Advertising and public relations 182 194 488 611
Information technology 716 717 2,144 2,066
Supplies, telephone, and postage 310 341 1,028 1,070
Amortization of intangibles 13 20 47 163
Nonperforming asset management 17 60 129 313
Operations of other real estate owned, net 19 59 22 355
FDIC insurance premiums (127) 115 127 338
Other 1,284 1,170 3,623 3,429
Total noninterest expense 9,509 9,425 29,079 29,599
Income before income taxes 5,341 5,133 11,273 15,829
Income tax expense 1,417 1,396 2,991 3,903
Net income $ 3,924 $ 3,737 $ 8,282 $ 11,926
Basic earnings per common share (usd per share) $ 0.26 $ 0.22 $ 0.53 $ 0.68
Diluted earnings per common share (usd per share) $ 0.26 $ 0.22 $ 0.53 $ 0.68
Weighted average common shares outstanding (shares) 15,373,964 17,365,679 15,679,927 17,641,308
Diluted weighted average common shares outstanding (shares) 15,373,964 17,365,679 15,679,927 17,641,308