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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest and fees on loans:        
Taxable $ 16,535 $ 15,294 $ 48,021 $ 44,400
Tax-exempt 813 770 2,334 2,301
Interest and dividends on investment securities:        
Taxable 714 575 2,130 1,879
Tax-exempt 716 861 2,262 2,611
Dividends 13 10 37 31
Interest on interest-bearing deposits in other banks 40 15 107 47
Total interest income 18,831 17,525 54,891 51,269
Interest expense:        
Interest on deposits 1,654 1,356 4,617 3,961
Interest on short-term borrowings 177 116 599 282
Interest on long-term debt 344 353 1,041 1,067
Total interest expense 2,175 1,825 6,257 5,310
Net interest income 16,656 15,700 48,634 45,959
Provision for loan losses 1,200 1,200 3,600 3,600
Net interest income after provision for loan losses 15,456 14,500 45,034 42,359
Noninterest income:        
Service charges, fees and commissions 2,156 1,542 5,410 4,513
Merchant services income 165 1,257 2,358 3,209
Commission and fees on fiduciary activities 540 539 1,542 1,495
Wealth management income 414 271 1,081 979
Mortgage banking income 193 217 576 616
Life insurance investment income 193 199 577 594
Net gain on sale of investment securities available-for-sale       623
Net gain on sale of merchant services business     2,278  
Total noninterest income 3,661 4,025 13,822 12,029
Noninterest expense:        
Salaries and employee benefits expense 6,550 5,466 19,851 16,702
Net occupancy and equipment expense 2,483 2,316 7,327 6,998
Merchant services expense 33 890 1,796 2,270
Amortization of intangible assets 259 297 785 899
Other expenses 3,155 3,048 9,079 8,879
Total noninterest expense 12,480 12,017 38,838 35,748
Income before income taxes 6,637 6,508 20,018 18,640
Income tax expense 1,287 1,390 4,209 3,785
Net income 5,350 5,118 15,809 14,855
Other comprehensive income:        
Unrealized gain on investment securities available-for-sale (381) (1,120) 1,076 1,003
Reclassification adjustment for net gain on sales included in net income       (623)
Other comprehensive income (381) (1,120) 1,076 380
Income tax related to other comprehensive loss (133) (392) 377 133
Other comprehensive income, net of income taxes (248) (728) 699 247
Comprehensive income $ 5,102 $ 4,390 $ 16,508 $ 15,102
Net income:        
Basic $ 0.72 $ 0.69 $ 2.14 $ 2.01
Diluted $ 0.72 $ 0.69 $ 2.14 $ 2.01
Average common shares outstanding:        
Basic 7,396,505 7,394,143 7,395,612 7,397,581
Diluted 7,396,505 7,394,143 7,395,612 7,397,581
Dividends declared $ 0.32 $ 0.31 $ 0.94 $ 0.93