| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Interest and dividend income: | |||||||||
Interest and fees on loans and loans held for sale | |||||||||
37,670 | 31,028 | 26,251 | 22,938 | 20,793 | 18,559 | 15,902 | 13,085 | 12,053 | 12,176 |
Debt securities: | |||||||||
Taxable | |||||||||
1,270 | 1,441 | 1,338 | 1,369 | 957 | 717 | 543 | 725 | 597 | 841 |
Tax-exempt | |||||||||
291 | 327 | 305 | 219 | 193 | 188 | 175 | 256 | 248 | 166 |
Short-term investments and certificates of deposit | |||||||||
757 | 509 | 220 | 83 | 31 | 33 | 32 | 46 | 60 | 154 |
FHLB stock | |||||||||
302 | 333 | 252 | 195 | 111 | 48 | - | - | - | - |
FHLB stock | |||||||||
- | - | - | - | - | - | 8 | 8 | 6 | - |
Total interest and dividend income | |||||||||
40,290 | 33,638 | 28,366 | 24,804 | 22,085 | 19,545 | 16,660 | 14,120 | 12,964 | 13,337 |
Interest expense: | |||||||||
Deposits | |||||||||
10,069 | 6,442 | 3,581 | 3,111 | 2,775 | 2,781 | 2,260 | 2,131 | 2,216 | 2,450 |
Short-term borrowings | |||||||||
865 | 580 | 293 | 100 | 78 | 13 | 14 | 56 | 85 | 88 |
Long-term debt | |||||||||
1,642 | 1,256 | 1,182 | 1,053 | 815 | 631 | 511 | 391 | 402 | 841 |
Subordinated debentures | |||||||||
628 | 631 | - | - | - | - | - | - | - | - |
Subordinated debentures | |||||||||
- | - | 632 | 635 | 22 | 0 | - | - | - | - |
Total interest expense | |||||||||
13,204 | 8,909 | 5,688 | 4,899 | 3,690 | 3,425 | 2,785 | 2,578 | 2,703 | 3,379 |
Net interest income | |||||||||
27,086 | 24,729 | 22,678 | 19,905 | 18,395 | 16,120 | 13,875 | 11,542 | 10,261 | 9,958 |
Provision for loan losses | |||||||||
915 | 585 | 735 | 437 | 475 | 640 | 500 | 550 | 900 | 1,100 |
Net interest income, after provision for loan losses | |||||||||
26,171 | 24,144 | 21,943 | 19,468 | 17,920 | 15,480 | 13,375 | 10,992 | 9,361 | 8,858 |
Non-interest income: | |||||||||
Customer service fees | |||||||||
184 | 176 | 149 | - | - | - | - | - | - | - |
Mortgage banking activities | |||||||||
211 | 99 | 113 | - | - | - | - | - | - | - |
Customer service fees | |||||||||
- | - | - | 103 | 125 | 131 | 167 | 149 | 157 | 167 |
Gain on sales of securities, net | |||||||||
- | - | - | 16 | 31 | 16 | 103 | 98 | 18 | 82 |
Mortgage banking activities | |||||||||
- | - | - | 288 | 278 | 108 | 107 | 218 | - | - |
Income on bank-owned life insurance | |||||||||
236 | 234 | 232 | 230 | 232 | 234 | 222 | 177 | 146 | 151 |
Wealth management fees | |||||||||
1,675 | 1,616 | 1,257 | - | - | - | - | - | - | - |
Wealth management fees | |||||||||
1,675 | 1,616 | 1,257 | - | - | - | - | - | - | - |
Wealth management fees | |||||||||
- | - | - | 982 | 516 | 429 | 391 | 231 | - | - |
Loss on extinguishment of debt | |||||||||
- | - | - | - | - | - | -93 | - | - | - |
Wealth management fees | |||||||||
- | - | - | - | - | - | - | - | 109 | 68 |
Miscellaneous | |||||||||
803 | 461 | 236 | 91 | 44 | 41 | 52 | 57 | 67 | 80 |
Total non-interest income | |||||||||
3,109 | 2,586 | 1,987 | 1,710 | 1,226 | 959 | 949 | 930 | 497 | 548 |
Non-interest expense: | |||||||||
Salaries and employee benefits | |||||||||
12,261 | 10,842 | 10,094 | 9,691 | 8,747 | 8,011 | 6,358 | 4,927 | 4,230 | 3,495 |
Occupancy and equipment | |||||||||
3,288 | 3,004 | 2,785 | 2,744 | 2,717 | 2,095 | 1,491 | 1,280 | 862 | 740 |
Data processing | |||||||||
1,272 | 990 | 892 | 778 | 658 | 604 | 500 | 438 | 404 | 371 |
FDIC insurance | |||||||||
576 | 626 | 609 | 404 | 372 | 300 | 269 | 223 | 157 | 275 |
Professional fees | |||||||||
1,349 | 766 | 761 | 884 | 747 | 825 | 451 | - | - | - |
Advertising and marketing | |||||||||
240 | 323 | 384 | 338 | 364 | 324 | - | - | - | - |
Contributions | |||||||||
- | - | - | - | - | - | - | 1,802 | 26 | 83 |
Foreclosed assets, net | |||||||||
- | - | - | - | - | - | - | - | - | 52 |
Other general and administrative | |||||||||
2,192 | 2,012 | 1,656 | 1,565 | 1,240 | 1,399 | 1,630 | 1,629 | 1,034 | 979 |
Total non-interest expenses | |||||||||
21,178 | 18,563 | 17,181 | 16,404 | 14,845 | 13,558 | 10,699 | 10,299 | 6,713 | 5,995 |
Income before income taxes | |||||||||
8,102 | 8,167 | 6,749 | 4,774 | 4,301 | 2,881 | 3,625 | 1,623 | 3,145 | 3,411 |
Provision for income taxes | |||||||||
2,102 | 2,176 | 3,564 | 1,838 | 1,652 | 1,104 | 1,405 | 524 | 1,140 | 1,258 |
Net income | |||||||||
6,000 | 5,991 | 3,185 | 2,936 | 2,649 | 1,777 | 2,220 | 1,099 | 2,005 | 2,153 |
Other comprehensive income: | |||||||||
Net unrealized holding (loss) gain on available-for-sale securities | |||||||||
1,436 | -776 | 418 | -608 | -391 | 417 | -923 | 360 | 538 | - |
Reclassification adjustment for gains recognized in noninterest income | |||||||||
8 | - | - | - | - | - | - | - | - | - |
Deferred income tax (provision) benefit | |||||||||
365 | -197 | - | - | - | - | - | - | - | - |
Reclassification adjustment for net gains on sales of securities recognized in noninterest income | |||||||||
- | - | - | -16 | -31 | -16 | -103 | -98 | - | - |
Reclassification adjustment for gains realized in income | |||||||||
- | - | - | - | - | - | - | - | -18 | - |
Net unrealized gains | |||||||||
- | - | - | - | - | - | - | - | 520 | - |
Income tax benefit (expense) | |||||||||
- | - | 150 | -233 | -167 | 150 | -402 | 99 | 202 | - |
Total other comprehensive (loss) gain income | |||||||||
1,063 | -579 | 268 | -391 | -255 | 251 | -624 | 163 | 318 | - |
Comprehensive income | |||||||||
7,063 | 5,412 | 3,453 | 2,545 | 2,394 | 2,028 | 1,596 | 1,262 | 2,323 | - |
Earnings per common share: | |||||||||
Basic | |||||||||
2.44 | 2.49 | 1.34 | 1.26 | 1.14 | 0.78 | 0.97 | - | - | - |
Diluted | |||||||||
2.36 | 2.40 | 1.30 | 1.24 | 1.14 | 0.77 | 0.97 | - | - | - |
Weighted average shares outstanding: | |||||||||
Basic | |||||||||
2,461 | 2,404 | 2,369 | 2,329 | 2,311 | 2,293 | 2,289 | - | - | - |
Diluted | |||||||||
2,553 | 2,502 | 2,454 | 2,367 | 2,328 | 2,299 | 2,289 | - | - | - |