Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME (unaudited)

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CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Interest income    
Loans, including fees $ 14,851 $ 16,450
Securities    
Taxable 1,061 996
Tax-exempt 882 839
FHLB Stock 124 160
Federal funds sold and other short-term investments 576 744
Total interest income 17,494 19,189
Interest expense    
Deposits 1,603 2,256
Other borrowings 349 327
Long-term debt 239 586
Total interest expense 2,191 3,169
Net interest income 15,303 16,020
Provision for loan losses 700 (250)
Net interest income after provision for loan losses 14,603 16,270
Noninterest income    
Service charges and fees 1,110 1,050
Net gains on mortgage loans 650 211
Trust fees 935 890
ATM and debit card fees 1,337 1,326
Gain on sales of securities 0 0
Bank owned life insurance ("BOLI") income 242 236
Other 685 615
Total noninterest income 4,959 4,328
Noninterest expense    
Salaries and benefits 6,691 6,244
Occupancy of premises 1,009 1,093
Furniture and equipment 855 844
Legal and professional 291 230
Marketing and promotion 238 228
Data processing 760 730
FDIC assessment 0 120
Interchange and other card expense 347 345
Bond and D&O Insurance 105 104
Net (gains) losses on repossessed and foreclosed properties 31 (35)
Administration and disposition of problem assets 30 88
Other 1,365 1,247
Total noninterest expenses 11,722 11,238
Income before income tax 7,840 9,360
Income tax expense 1,429 1,714
Net income $ 6,411 $ 7,646
Basic earnings per common share (in dollars per share) $ 0.19 $ 0.22
Diluted earnings per common share (in dollars per share) 0.19 0.22
Cash dividends per common share (in dollars per share) $ 0.08 $ 0.07