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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest and fees on loans:        
Taxable $ 20,641 $ 18,239 $ 40,744 $ 35,748
Tax-exempt 1,109 871 2,208 1,741
Interest and dividends on investment securities:        
Taxable 1,025 934 2,035 1,792
Tax-exempt 520 661 1,082 1,362
Dividends 22 19 41 35
Interest on interest-bearing deposits in other banks 15 42 23 82
Total interest income 23,332 20,766 46,133 40,760
Interest expense:        
Interest on deposits 3,713 1,959 7,124 3,793
Interest on short-term borrowings 595 841 1,408 1,508
Interest on long-term debt 296 315 576 621
Total interest expense 4,604 3,115 9,108 5,922
Net interest income 18,728 17,651 37,025 34,838
Provision for loan losses 350 1,050 1,400 2,100
Net interest income after provision for loan losses 18,378 16,601 35,625 32,738
Noninterest income:        
Mortgage banking income 137 162 285 309
Life insurance investment income 192 191 378 378
Net losses (gains) on equity investment securities (9) 8 (8)  
Net gains on sale of investment securities available-for-sale 23   23  
Net gain on sale of credit card loans   291   291
Total noninterest income 4,152 3,663 7,568 7,235
Noninterest expense:        
Salaries and employee benefits expense 8,037 7,390 15,632 14,345
Net occupancy and equipment expense 2,849 2,720 5,810 5,534
Amortization of intangible assets 182 220 374 450
Professional fees and outside services 525 446 856 1,069
FDIC insurance and assessments 288 297 547 583
Donations 359 343 691 656
Other expenses 2,189 2,080 4,009 3,940
Total noninterest expense 14,429 13,496 27,919 26,577
Income before income taxes 8,101 6,768 15,274 13,396
Income tax expense 957 811 1,718 1,585
Net income 7,144 5,957 13,556 11,811
Other comprehensive income (loss):        
Unrealized gain (loss) on investment securities available-for-sale 2,611 (839) 5,050 (3,215)
Reclassification adjustment for net gain on sales included in net income (23)   (23)  
Change in derivative fair value 443   506  
Other comprehensive gain (loss) 3,031 (839) 5,533 (3,215)
Income tax expense (benefit) 637 (176) 1,162 (677)
Other comprehensive income (loss), net of income taxes 2,394 (663) 4,371 (2,538)
Comprehensive income $ 9,538 $ 5,294 $ 17,927 $ 9,273
Net income:        
Basic $ 0.96 $ 0.81 $ 1.83 $ 1.60
Diluted $ 0.96 $ 0.81 $ 1.83 $ 1.60
Average common shares outstanding:        
Basic 7,399,302 7,396,533 7,399,178 7,396,519
Diluted 7,399,302 7,396,533 7,399,178 7,396,519
Dividends declared $ 0.34 $ 0.33 $ 0.68 $ 0.65
Service charges, fees and commissions        
Noninterest income:        
Revenue from contracts with customers $ 2,490 $ 1,885 $ 4,489 $ 3,973
Merchant services income        
Noninterest income:        
Revenue from contracts with customers 457 309 655 559
Commission and fees on fiduciary activities        
Noninterest income:        
Revenue from contracts with customers 492 485 999 982
Wealth management income        
Noninterest income:        
Revenue from contracts with customers $ 370 $ 332 $ 747 $ 743