XML 15 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
INTEREST AND DIVIDEND INCOME    
Loans, including fees $ 14,157 $ 9,530
Securities:    
Taxable 903 800
Tax-exempt 65 150
Dividends 78 49
Other 52 4
Total Interest Income 15,255 10,533
INTEREST EXPENSE    
Deposits 1,134 635
Short-term borrowings 16 45
Long-term borrowings 543 387
Total Interest Expense 1,693 1,067
Net Interest Income 13,562 9,466
PROVISION FOR LOAN LOSSES 250 0
Net Interest Income after Provision for Loan Losses 13,312 9,466
OTHER INCOME    
Service charges on deposit accounts 816 570
Income from fiduciary, investment management and brokerage activities 571 442
Earnings on investment in bank-owned life insurance 257 255
Gain on life insurance proceeds 52 0
Net losses on equity securities (33) 0
Service charges on ATM and debit card transactions 530 358
Commissions from insurance sales 1,201 1,154
Other 318 303
Total Other Income 3,712 3,082
OTHER EXPENSES    
Salaries and employee benefits 6,627 5,748
Net occupancy 779 537
Equipment 1,162 783
Other tax 206 211
Professional services 369 239
Supplies and postage 215 169
Marketing and corporate relations 103 64
FDIC and regulatory 184 139
Merger related expenses 0 162
Intangible assets amortization 184 80
Foreclosed real estate expenses 48 30
Other operating 1,109 838
Total Other Expenses 10,986 9,000
Income before Income Taxes 6,038 3,548
PROVISION FOR INCOME TAXES 1,125 911
Net Income $ 4,913 $ 2,637
PER SHARE DATA    
Basic earnings (in dollars per share) $ 0.70 $ 0.43
Cash dividends declared (in dollars per share) $ 0.20 $ 0.20