| Dec'19 | Dec'18 | Dec'17 | ||||
|---|---|---|---|---|---|---|
Interest and Dividend Income | ||||||
Interest and fees on loans | ||||||
38,255 | 31,314 | 25,366 | ||||
Interest and dividends on securities | ||||||
2,671 | 2,355 | 2,471 | ||||
Other income | ||||||
60 | 61 | 50 | ||||
Total interest and dividend income | ||||||
40,986 | 33,730 | 27,887 | ||||
Interest Expense | ||||||
Interest expense on deposits | ||||||
6,989 | 4,203 | 3,057 | ||||
Interest expense on borrowings | ||||||
1,750 | 1,117 | 243 | ||||
Total interest expense | ||||||
8,739 | 5,320 | 3,300 | ||||
Net interest income | ||||||
32,247 | 28,410 | 24,587 | ||||
Provision for loan losses | ||||||
2,460 | 2,100 | 900 | ||||
Net interest income after provision for loan losses | ||||||
29,787 | 26,310 | 23,687 | ||||
Noninterest Income | ||||||
Service charges on deposit accounts | ||||||
2,824 | 2,806 | 2,406 | ||||
Net realized loss on sales and calls of securities | ||||||
-69 | -22 | -27 | ||||
Net gain on sales of loans | ||||||
619 | 621 | 571 | ||||
Increase in cash surrender value of life insurance | ||||||
398 | 401 | 460 | ||||
Write-downs of other real estate owned | ||||||
- | -387 | 1 | ||||
Write-downs of other real estate owned | ||||||
- | - | 306 | ||||
Other real estate owned income | ||||||
28 | 42 | 42 | ||||
Gain on sale of subsidiary | ||||||
- | - | 1,834 | ||||
Gain on disposal of premises and equipment | ||||||
- | 16 | -106 | ||||
Insurance related income | ||||||
- | - | 1,518 | ||||
Investment advisory income | ||||||
944 | 809 | 749 | ||||
Other | ||||||
886 | 895 | 915 | ||||
Total noninterest income | ||||||
5,630 | 5,181 | 8,057 | ||||
Noninterest Expense | ||||||
Salaries and employee benefits | ||||||
15,631 | 14,359 | 13,536 | ||||
Sales commissions | ||||||
- | - | 260 | ||||
Occupancy | ||||||
3,490 | 3,405 | 3,397 | ||||
Data processing | ||||||
1,340 | 1,162 | 1,159 | ||||
Professional fees | ||||||
1,386 | 933 | 798 | ||||
Marketing | ||||||
666 | 724 | - | ||||
Advertising | ||||||
- | - | 625 | ||||
FDIC deposit insurance and other insurance | ||||||
478 | 845 | 794 | ||||
Other real estate owned expense | ||||||
123 | 186 | 111 | ||||
Amortization of intangible assets | ||||||
43 | 42 | 67 | ||||
Impairment loss on goodwill | ||||||
- | 95 | - | ||||
Other | ||||||
4,768 | 4,369 | 4,397 | ||||
Total noninterest expense | ||||||
27,925 | 26,120 | 25,144 | ||||
Income before income taxes | ||||||
7,492 | 5,371 | 6,600 | ||||
Provision for income taxes | ||||||
1,529 | 1,014 | 3,598 | ||||
Net income | ||||||
5,963 | 4,357 | 3,002 | ||||
Earnings per common share: | ||||||
Basic (in dollars per share) | ||||||
0.56 | - | - | ||||
Diluted (in dollars per share) | ||||||
0.56 | - | - | ||||
Weighted average shares outstanding, basic | ||||||
10,707 | - | - | ||||
Weighted average shares outstanding, diluted | ||||||
10,707 | - | - | ||||