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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 17,402 $ 15,623 $ 33,885 $ 30,893
Taxable securities 1,265 1,288 2,383 2,725
Tax exempt securities 1,170 899 2,241 1,788
Dividends 123 113 238 226
Federal funds sold and other interest income 82 27 145 65
TOTAL INTEREST AND DIVIDEND INCOME 20,042 17,950 38,892 35,697
INTEREST EXPENSE        
Deposits 1,117 793 2,031 1,500
Short-term borrowings 501 144 828 319
Long-term borrowings 51 124 129 242
TOTAL INTEREST EXPENSE 1,669 1,061 2,988 2,061
NET INTEREST INCOME 18,373 16,889 35,904 33,636
Provision for loan losses 950 990 2,000 1,770
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 17,423 15,899 33,904 31,866
NONINTEREST INCOME        
Service charges on deposit accounts 989 987 1,940 1,922
Bank owned life insurance income 191 202 392 414
Trust fees 1,523 1,564 3,201 3,060
Insurance agency commissions 672 293 1,346 432
Security gains (losses) (14) 41 (1) 41
Retirement plan consulting fees 399 496 912 985
Investment commissions 253 356 475 592
Net gains on sale of loans 891 540 1,498 942
Debit card and EFT fees 836 657 1,489 1,283
Other operating income 315 601 690 1,012
TOTAL NONINTEREST INCOME 6,055 5,737 11,942 10,683
NONINTEREST EXPENSES        
Salaries and employee benefits 8,853 7,740 17,140 15,294
Occupancy and equipment 1,631 1,616 3,218 3,280
State and local taxes 424 394 841 787
Professional fees 775 754 1,522 1,283
Merger related costs 104 224 166 513
Advertising 317 363 561 708
FDIC insurance 234 286 469 569
Intangible amortization 364 335 729 672
Core processing charges 717 580 1,372 1,218
Telephone and data 242 233 483 449
Other operating expenses 2,103 2,258 3,876 4,454
TOTAL NONINTEREST EXPENSES 15,764 14,783 30,377 29,227
INCOME BEFORE INCOME TAXES 7,714 6,853 15,469 13,322
INCOME TAXES 2,004 1,833 3,976 3,504
NET INCOME $ 5,710 $ 5,020 $ 11,493 $ 9,818
EARNINGS PER SHARE - basic and diluted $ 0.21 $ 0.19 $ 0.42 $ 0.36