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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 14,966 $ 13,990 $ 43,746 $ 33,484
Securities:        
Taxable 929 890 2,761 2,474
Tax-exempt 51 85 175 352
Dividends 77 61 229 174
Other 259 83 490 120
Total Interest Income 16,282 15,109 47,401 36,604
INTEREST EXPENSE        
Deposits 1,341 1,080 3,681 2,402
Short-term borrowings 2 9 29 69
Long-term borrowings 526 458 1,625 1,274
Total Interest Expense 1,869 1,547 5,335 3,745
Net Interest Income 14,413 13,562 42,066 32,859
PROVISION FOR LOAN LOSSES 200 0 770 0
Net Interest Income after Provision for Loan Losses 14,213 13,562 41,296 32,859
OTHER INCOME        
Earnings on investment in bank-owned life insurance 269 276 807 807
Gain on life insurance proceeds 0 0 52 0
Net gains on sales of securities 31 0 44 0
Net losses on equity securities (23) 0 (50) 0
Commissions from insurance sales 1,450 1,313 4,358 4,031
Other 318 492 963 1,007
Total Other Income 4,125 3,930 12,154 10,540
OTHER EXPENSES        
Salaries and employee benefits 6,560 6,715 19,870 18,397
Net occupancy 700 677 2,199 1,710
Equipment 1,276 1,039 3,759 2,666
Other tax 243 197 684 576
Professional services 371 224 1,084 807
Supplies and postage 183 187 575 524
Marketing and corporate relations 98 119 366 321
FDIC and regulatory 173 170 521 449
Merger related expenses 0 4,305 0 4,675
Intangible assets amortization 175 193 541 355
Foreclosed real estate (income) expenses (27) 35 105 51
Other operating 1,104 1,006 3,389 2,970
Total Other Expenses 10,856 14,867 33,093 33,501
Income before Income Taxes 7,482 2,625 20,357 9,898
PROVISION FOR INCOME TAXES 1,443 713 3,898 2,627
Net Income $ 6,039 $ 1,912 $ 16,459 $ 7,271
PER SHARE DATA        
Basic earnings (in dollars per share) $ 0.86 $ 0.27 $ 2.34 $ 1.14
Cash dividends declared (in dollars per share) $ 0.23 $ 0.20 $ 0.66 $ 0.60
Service charges on deposit accounts        
OTHER INCOME        
Revenue from contract with customer, excluding assessed tax $ 839 $ 870 $ 2,465 $ 2,057
Income from fiduciary, investment management and brokerage activities        
OTHER INCOME        
Revenue from contract with customer, excluding assessed tax 632 489 1,762 1,409
Service charges on ATM and debit card transactions        
OTHER INCOME        
Revenue from contract with customer, excluding assessed tax $ 609 $ 490 $ 1,753 $ 1,229