XML 16 R4.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest and fees on loans      
Taxable $ 40,496 $ 40,518 $ 42,832
Tax exempt 89 110 101
Interest bearing deposits 6 15 24
Short-term investments 54 231 293
Investment securities:      
Available for sale 4,543 4,591 5,090
Held to maturity 1,481 1,417 1,427
Total Interest Income 46,669 46,882 49,767
INTEREST EXPENSE      
Deposits 4,806 7,634 11,189
Short-term borrowings 1 29 288
Advances from Federal Home Loan Bank 875 1,099 1,090
Financing lease liabilities 106 112 117
Guaranteed junior subordinated deferrable interest debentures 944 1,121 1,121
Subordinated debt 854 520 520
Total Interest Expense 7,586 10,515 14,325
Net Interest Income 39,083 36,367 35,442
Provision for loan losses 1,100 2,375 800
Net Interest Income after Provision for Loan Losses 37,983 33,992 34,642
NON-INTEREST INCOME      
Non-interest income 14,968 12,823 12,760
Net gains on loans held for sale 664 1,523 865
Mortgage related fees 358 559 302
Net realized gains on investment securities 84   118
Impairment charge on other investments     (500)
Bank owned life insurance 1,117 782 521
Other income 2,587 2,296 2,466
Total Non-Interest Income 17,761 16,275 14,773
NON-INTEREST EXPENSE      
Salaries and employee benefits 27,847 27,390 25,429
Net occupancy expense 2,620 2,510 2,497
Equipment expense 1,582 1,559 1,510
Professional fees 5,456 5,219 4,885
Supplies, postage and freight 668 714 605
Miscellaneous taxes and insurance 1,236 1,143 1,135
Federal deposit insurance expense 655 481 100
Branch acquisition costs 389    
Other expense 6,517 5,439 5,654
Total Non-Interest Expense 46,970 44,455 41,815
PRETAX INCOME 8,774 5,812 7,600
Provision for income taxes 1,702 1,214 1,572
NET INCOME $ 7,072 $ 4,598 $ 6,028
Basic:      
Net income $ 0.41 $ 0.27 $ 0.35
Average number of shares outstanding 17,073 17,053 17,359
Diluted:      
Net income $ 0.41 $ 0.27 $ 0.35
Average number of shares outstanding 17,114 17,063 17,440
Cash dividends declared $ 0.100 $ 0.100 $ 0.095
Wealth management fees.      
NON-INTEREST INCOME      
Non-interest income $ 11,986 $ 10,212 $ 9,730
Service charges on deposit accounts      
NON-INTEREST INCOME      
Non-interest income $ 965 $ 903 $ 1,271