Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest income    
Loans, including fees $ 13,467 $ 14,851
Securities    
Taxable 787 1,061
Tax-exempt 758 882
FHLB Stock 61 124
Federal funds sold and other short-term investments 201 576
Total interest income 15,274 17,494
Interest expense    
Deposits 279 1,603
Other borrowings 352 349
Long-term debt 153 239
Total interest expense 784 2,191
Net interest income 14,490 15,303
Provision for loan losses 0 700
Net interest income after provision for loan losses 14,490 14,603
Noninterest income    
Service charges and fees 992 1,110
Net gains on mortgage loans 2,015 650
Trust fees 1,005 935
ATM and debit card fees 1,485 1,337
Gain on sales of securities 0 0
Bank owned life insurance ("BOLI") income 276 242
Other 766 685
Total noninterest income 6,539 4,959
Noninterest expense    
Salaries and benefits 6,412 6,691
Occupancy of premises 1,037 1,009
Furniture and equipment 937 855
Legal and professional 222 291
Marketing and promotion 175 238
Data processing 908 760
FDIC assessment 170 0
Interchange and other card expense 358 347
Bond and D&O insurance 111 105
Net (gains) losses on repossessed and foreclosed properties 18 31
Administration and disposition of problem assets 14 30
Other 1,123 1,365
Total noninterest expenses 11,485 11,722
Income before income tax 9,544 7,840
Income tax expense 1,766 1,429
Net income $ 7,778 $ 6,411
Basic earnings per common share (in dollars per share) $ 0.23 $ 0.19
Diluted earnings per common share (in dollars per share) 0.23 0.19
Cash dividends per common share (in dollars per share) $ 0.08 $ 0.08