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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 14,623 $ 9,964 $ 28,780 $ 19,494
Securities:        
Taxable 929 784 1,832 1,584
Tax-exempt 59 117 124 267
Dividends 74 64 152 113
Other 179 33 231 37
Total Interest Income 15,864 10,962 31,119 21,495
INTEREST EXPENSE        
Deposits 1,206 687 2,340 1,322
Short-term borrowings 11 15 27 60
Long-term borrowings 556 429 1,099 816
Total Interest Expense 1,773 1,131 3,466 2,198
Net Interest Income 14,091 9,831 27,653 19,297
PROVISION FOR LOAN LOSSES 320 0 570 0
Net Interest Income after Provision for Loan Losses 13,771 9,831 27,083 19,297
OTHER INCOME        
Earnings on investment in bank-owned life insurance 281 276 538 531
Gain on life insurance proceeds 0 0 52 0
Net gains on sales of securities 13 0 13 0
Net gains (losses) on equity securities 6 0 (27) 0
Commissions from insurance sales 1,707 1,564 2,908 2,718
Other 327 212 645 515
Total Other Income 4,317 3,528 8,029 6,610
OTHER EXPENSES        
Salaries and employee benefits 6,683 5,934 13,310 11,682
Net occupancy 720 496 1,499 1,033
Equipment 1,321 844 2,483 1,627
Other tax 235 168 441 379
Professional services 344 344 713 583
Supplies and postage 177 168 392 337
Marketing and corporate relations 165 138 268 202
FDIC and regulatory 164 140 348 279
Merger related expenses 0 208 0 370
Intangible assets amortization 182 82 366 162
Foreclosed real estate expenses (income) 84 (14) 132 16
Other operating 1,176 1,126 2,285 1,964
Total Other Expenses 11,251 9,634 22,237 18,634
Income before Income Taxes 6,837 3,725 12,875 7,273
PROVISION FOR INCOME TAXES 1,330 1,003 2,455 1,914
Net Income $ 5,507 $ 2,722 $ 10,420 $ 5,359
PER SHARE DATA        
Basic earnings (in dollars per share) $ 0.78 $ 0.45 $ 1.48 $ 0.88
Cash dividends declared (in dollars per share) $ 0.23 $ 0.20 $ 0.43 $ 0.40
Service charges on deposit accounts        
OTHER INCOME        
Revenue from contract with customer, excluding assessed tax $ 810 $ 617 $ 1,626 $ 1,187
Income from fiduciary, investment management and brokerage activities        
OTHER INCOME        
Revenue from contract with customer, excluding assessed tax 559 478 1,130 920
Service charges on ATM and debit card transactions        
OTHER INCOME        
Revenue from contract with customer, excluding assessed tax $ 614 $ 381 $ 1,144 $ 739