Consolidated Statements of Income - USD ($)
|
3 Months Ended |
Mar. 31, 2021 |
Mar. 31, 2020 |
| Interest income |
|
|
| Loans |
$ 6,778,000
|
$ 5,369,000
|
| Investment securities |
250,000
|
270,000
|
| Federal funds sold |
3,000
|
45,000
|
| Total interest income |
7,031,000
|
5,684,000
|
| Interest expense |
|
|
| Deposits |
493,000
|
900,000
|
| Borrowed funds |
162,000
|
357,000
|
| Total interest expense |
655,000
|
1,257,000
|
| Net interest income |
6,376,000
|
4,427,000
|
| Provision for loan losses |
0
|
400,000
|
| Net interest income after provision for loan losses |
6,376,000
|
4,027,000
|
| Noninterest income |
|
|
| Service charges and fees |
536,000
|
518,000
|
| Mortgage banking income, net |
3,491,000
|
1,370,000
|
| Gain on sale of investment securities, net |
0
|
12,000
|
| Gain on sale of Small Business Administration loans |
0
|
86,000
|
| Other |
143,000
|
74,000
|
| Total noninterest income |
4,170,000
|
2,060,000
|
| Noninterest expense |
|
|
| Salaries and benefits |
3,421,000
|
3,022,000
|
| Occupancy |
352,000
|
326,000
|
| Equipment |
256,000
|
200,000
|
| Supplies |
41,000
|
38,000
|
| Professional and outside services |
691,000
|
716,000
|
| Advertising and marketing |
118,000
|
78,000
|
| FDIC insurance premium |
66,000
|
60,000
|
| Other operating expense |
568,000
|
510,000
|
| Total noninterest expense |
5,513,000
|
4,950,000
|
| Income before income tax expense |
5,033,000
|
1,137,000
|
| Income tax expense |
1,136,000
|
239,000
|
| Net income |
$ 3,897,000
|
$ 898,000
|
| Earnings per share, basic |
$ 2.66
|
$ 0.62
|
| Earnings per share, diluted |
$ 2.66
|
$ 0.62
|