Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME (unaudited)

v3.20.2
CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income        
Loans, including fees $ 13,854 $ 15,604 $ 43,194 $ 48,179
Securities        
Taxable 867 968 2,881 2,952
Tax-exempt 861 919 2,607 2,623
FHLB Stock 100 158 339 476
Federal funds sold and other short-term investments 140 1,430 802 3,278
Total interest income 15,822 19,079 49,823 57,508
Interest expense        
Deposits 621 2,343 3,118 6,965
Other borrowings 364 349 1,069 1,021
Long-term debt 163 551 612 1,710
Total interest expense 1,148 3,243 4,799 9,696
Net interest income 14,674 15,836 45,024 47,812
Provision for loan losses 500 0 2,200 (450)
Net interest income after provision for loan losses 14,174 15,836 42,824 48,262
Noninterest income        
Service charges and fees 987 1,139 2,957 3,267
Net gains on mortgage loans 1,546 824 4,045 1,650
Trust fees 921 920 2,801 2,813
ATM and debit card fees 1,542 1,469 4,199 4,276
Gain on sales of securities 0 0 0 0
Bank owned life insurance ("BOLI") income 215 252 688 737
Other 881 609 2,214 1,896
Total noninterest income 6,092 5,213 16,904 14,639
Noninterest expense        
Salaries and benefits 6,480 6,272 18,937 18,895
Occupancy of premises 1,026 966 2,984 3,055
Furniture and equipment 967 887 2,704 2,597
Legal and professional 260 211 798 652
Marketing and promotion 239 228 716 689
Data processing 761 735 2,309 2,226
FDIC assessment 131 0 207 239
Interchange and other card expense 367 347 1,041 1,057
Bond and D&O Insurance 104 103 313 309
Net (gains) losses on repossessed and foreclosed properties 0 0 32 (69)
Administration and disposition of problem assets 25 46 71 183
Other 1,173 1,214 3,647 3,749
Total noninterest expenses 11,533 11,009 33,759 33,582
Income before income tax 8,733 10,040 25,969 29,319
Income tax expense 1,613 1,882 4,800 5,512
Net income $ 7,120 $ 8,158 $ 21,169 $ 23,807
Basic earnings per common share (in dollars per share) $ 0.21 $ 0.24 $ 0.62 $ 0.70
Diluted earnings per common share (in dollars per share) 0.21 0.24 0.62 0.70
Cash dividends per common share (in dollars per share) $ 0.08 $ 0.07 $ 0.24 $ 0.21