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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest and Dividend Income        
Loans, including fees $ 13,496 $ 13,353 $ 39,593 $ 40,038
Loans held-for-sale 48 38 115 153
Securities:        
Taxable 3,954 3,471 12,547 10,218
Tax exempt 180 122 579 426
Dividends from Federal Reserve Bank and Federal Home Loan Bank stock 83 76 251 230
Interest bearing deposits with financial institutions 64 12 98 43
Total interest and dividend income 17,825 17,072 53,183 51,108
Interest Expense        
Savings, NOW, and money market deposits 193 185 577 547
Time deposits 931 799 2,622 2,377
Other short-term borrowings 23 6 69 22
Junior subordinated debentures 1,084 1,072 3,251 3,215
Subordinated debt 245 205 727 604
Notes payable and other borrowings 2 1 6 5
Total interest expense 2,478 2,268 7,252 6,770
Net interest and dividend income 15,347 14,804 45,931 44,338
Loan loss reserve release   (2,100)   (4,400)
Net interest and dividend income after release for loan losses 15,347 16,904 45,931 48,738
Noninterest Income        
Trust income 1,403 1,444 4,274 4,526
Service charges on deposits 1,756 1,766 4,961 5,086
Secondary mortgage fees 322 190 795 715
Mortgage servicing gain / (loss), net of changes in fair value 290 (274) (641) 18
Net gain on sales of mortgage loans 2,177 1,359 5,031 4,677
Securities loss, net (1,959) (57) (2,020) (178)
Increase in cash surrender value of bank-owned life insurance 383 236 987 1,015
Debit card interchange income 1,013 1,004 3,009 3,013
(Loss) gain on disposal and transfer of fixed assets   (1,143) (1) (1,143)
Other income 1,209 1,123 3,751 4,156
Total noninterest income 6,594 5,648 20,146 21,885
Noninterest Expense        
Salaries and employee benefits 9,014 8,260 26,854 26,664
Occupancy expense, net 1,120 1,156 3,358 3,521
Furniture and equipment expense 1,144 1,110 3,180 3,176
FDIC insurance 228 373 793 1,023
General bank insurance 269 308 839 975
Advertising expense 430 434 1,212 992
Debit card interchange expense 363 379 1,186 1,131
Legal fees 242 279 594 922
Other real estate expense, net 426 977 2,043 4,717
Other expense 3,346 2,968 9,487 9,203
Total noninterest expense 16,582 16,244 49,546 52,324
Income before income taxes 5,359 6,308 16,531 18,299
Provision for income taxes 1,860 2,384 5,865 6,747
Net income 3,499 3,924 10,666 11,552
Preferred stock dividends and accretion of discount   339   1,873
Net income available to common stockholders $ 3,499 $ 3,585 $ 10,666 $ 9,679
Basic earnings per share (in dollars per share) $ 0.12 $ 0.12 $ 0.36 $ 0.33
Diluted earnings per share (in dollars per share) $ 0.12 $ 0.12 $ 0.36 $ 0.33