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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest income        
Loans, including fees $ 28,927,000 $ 26,887,000 $ 55,660,000 $ 53,666,000
Securities, taxable 1,285,000 2,657,000 2,563,000 4,173,000
Securities, tax-exempt 575,000 540,000 1,125,000 1,077,000
Other interest-earning assets 116,000 63,000 259,000 120,000
Total interest income 30,903,000 30,147,000 59,607,000 59,036,000
Interest expense        
Deposits 2,023,000 1,819,000 3,891,000 3,685,000
Short-term borrowings 46,000 47,000 97,000 91,000
Federal Home Loan Bank advances 1,002,000 575,000 1,657,000 925,000
Subordinated debentures and other borrowings 639,000 606,000 1,260,000 1,353,000
Total interest expense 3,710,000 3,047,000 6,905,000 6,054,000
Net interest income 27,193,000 27,100,000 52,702,000 52,982,000
Provision for loan losses 750,000 1,100,000 1,350,000 1,700,000
Net interest income after provision for loan losses 26,443,000 26,000,000 51,352,000 51,282,000
Noninterest income        
Services charges on deposit and sweep accounts 1,054,000 1,090,000 2,072,000 2,038,000
Credit and debit card income 1,176,000 1,080,000 2,282,000 2,095,000
Mortgage banking income 783,000 744,000 1,906,000 1,342,000
Earnings on bank owned life insurance 328,000 298,000 2,066,000 584,000
Gain on trust preferred securities repurchase 0 0 0 2,970,000
Other income 701,000 852,000 1,567,000 2,121,000
Total noninterest income 4,042,000 4,064,000 9,893,000 11,150,000
Noninterest expense        
Salaries and benefits 10,888,000 10,801,000 22,160,000 21,796,000
Occupancy 1,554,000 1,480,000 3,108,000 3,084,000
Furniture and equipment depreciation, rent and maintenance 546,000 522,000 1,081,000 1,047,000
Data processing costs 2,072,000 1,970,000 4,083,000 3,962,000
FDIC insurance costs 248,000 365,000 458,000 757,000
Other expense 4,574,000 4,055,000 8,768,000 8,415,000
Total noninterest expenses 19,882,000 19,193,000 39,658,000 39,061,000
Income before federal income tax expense 10,603,000 10,871,000 21,587,000 23,371,000
Federal income tax expense 3,260,000 3,437,000 6,629,000 7,388,000
Net income $ 7,343,000 $ 7,434,000 $ 14,958,000 $ 15,983,000
Basic earnings per share (in dollars per share) $ 0.45 $ 0.46 $ 0.91 $ 0.98
Diluted earnings per share (in dollars per share) 0.45 0.46 0.91 0.98
Cash dividends per common share (in dollars per share) $ 0.18 $ 0.16 $ 0.36 $ 0.32
Average basic shares outstanding (in shares) 16,471,060 16,240,966 16,452,954 16,266,311
Average diluted shares outstanding (in shares) 16,485,356 16,268,839 16,467,384 16,293,250