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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest and dividend income        
Loans, including fees $ 12,669 $ 15,389 $ 26,280 $ 30,741
Securities 271 602 575 1,204
Other 254 531 992 1,103
Total interest income 13,194 16,522 27,847 33,048
Interest expense        
Deposits 1,869 3,417 4,553 6,638
Borrowings 0 2 0 88
Total interest expense 1,869 3,419 4,553 6,726
Net interest income 11,325 13,103 23,294 26,322
Provision for loan losses 42 3,957 513 3,870
Net interest income after provision for loan losses 11,283 9,146 22,781 22,452
Noninterest income        
Deposit service charges and fees 736 974 1,623 1,904
Loan servicing fees [1] 82 56 145 79
Mortgage brokerage and banking fees [1] 11 21 40 49
Gain on sale of equity securities [1] 0 0 0 295
Loss on disposal of other assets 0 0 (2) (19)
Trust and insurance commissions and annuities income 224 224 506 429
Earnings on bank-owned life insurance [1] 9 38 41 68
Other [1] 101 113 208 245
Total noninterest income 1,163 1,426 2,561 3,050
Noninterest expense        
Compensation and benefits 5,168 5,207 10,686 10,910
Office occupancy and equipment 1,723 1,624 3,523 3,469
Advertising and public relations 118 145 270 306
Information technology 808 753 1,672 1,459
Professional fees 289 237 524 544
Supplies, telephone, and postage 284 322 587 725
Amortization of intangibles 7 14 21 34
Nonperforming asset management 57 58 97 112
Operations of other real estate owned, net 7 47 (10) 3
FDIC insurance premiums 102 146 136 254
Other 686 919 1,371 1,754
Total noninterest expense 9,249 9,472 18,877 19,570
Income before income taxes 3,197 1,100 6,465 5,932
Income tax expense 845 293 1,695 1,574
Net income $ 2,352 $ 807 $ 4,770 $ 4,358
Basic and diluted earnings per common share (in dollars per share) $ 0.16 $ 0.05 $ 0.32 $ 0.28
Basic and diluted weighted average common shares outstanding (in shares) 14,978,757 15,472,618 15,092,244 15,835,445
[1] Not within the scope of ASC 606