Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME

v3.22.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Interest income    
Loans, including fees $ 50,664 $ 58,717
Securities    
Taxable 3,283 3,700
Tax-exempt 3,056 3,412
FHLB Stock 211 427
Federal funds sold and other short-term investments 1,420 968
Total interest income 58,634 67,224
Interest expense    
Deposits 915 3,488
Other borrowings 1,331 1,429
Long-term debt 319 770
Total interest expense 2,565 5,687
Net interest income 56,069 61,537
Provision for loan losses (2,050) 3,000
Net interest income after provision for loan losses 58,119 58,537
Noninterest income    
Service charges and fees 4,446 4,030
Net gains on mortgage loans 4,691 6,477
Trust fees 4,331 3,758
ATM and debit card fees 6,505 5,699
BOLI income 1,033 874
Other 2,689 3,138
Total noninterest income 23,695 23,976
Noninterest expense    
Salaries and benefits 25,216 25,530
Occupancy of premises 3,986 3,955
Furniture and equipment 3,940 3,678
Legal and professional 1,042 1,104
Marketing and promotion 723 891
Data processing 3,456 3,357
FDIC assessment 749 400
Interchange and other card expense 1,517 1,406
Bond and D&O Insurance 448 418
Net losses on repossessed and foreclosed properties 23 19
Administration and disposition of problem assets 22 96
Other 4,968 4,871
Total noninterest expenses 46,090 45,725
Income before income tax 35,724 36,788
Income tax expense 6,710 6,623
Net income $ 29,014 $ 30,165
Basic earnings per common share (in dollars per share) $ 0.85 $ 0.88
Diluted earnings per common share (in dollars per share) 0.85 0.88
Cash dividends per common share (in dollars per share) $ 0.32 $ 0.32