XML 17 R4.htm IDEA: XBRL DOCUMENT v3.19.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Interest income      
Loans, including fees $ 20,033 $ 17,964 $ 16,507
Securities:      
Taxable 2,896 2,556 2,334
Tax exempt 1,465 1,419 1,450
Other 131 102 21
Total interest income 24,525 22,041 20,312
Interest expense      
Deposits 2,175 1,189 790
Advances from Federal Home Loan Bank 235 276 171
Other 51 13 8
Total interest expense 2,461 1,478 969
Net interest income 22,064 20,563 19,343
Provision for loan losses (Note 3) 35 485  
Net interest income after provision for loan losses 22,029 20,078 19,343
Noninterest income      
Customer service charges 4,525 4,135 4,056
Insurance and investment commissions 335 826 1,009
Gains on sales of loans (Note 4) 1,003 1,265 1,748
Net gains/(losses) on sales of securities (Note 2) 34 (280) 312
Net gains/(losses) on sales and write-downs of other assets (Note 7) 83 26 (41)
Earnings on life insurance policies 385 398 356
Change in market value of equity securities 71    
Gain on sale of investment book of business   908  
Other 484 533 441
Total noninterest income 6,920 7,811 7,881
Noninterest expense      
Salaries and benefits (Notes 13 and 14) 10,997 10,249 9,982
Occupancy and equipment (Note 5) 2,722 2,896 2,588
Data processing 2,205 2,279 2,273
Professional fees 1,349 1,166 935
Supplies and postage 408 399 385
Advertising and promotional 308 298 222
Intangible amortization (Note 6)     379
FDIC insurance 185 200 238
Other 2,287 1,847 1,970
Total noninterest expense 20,461 19,334 18,972
Income before income tax 8,488 8,555 8,252
Income tax expense (Note 11) 1,155 2,387 2,162
Net income $ 7,333 $ 6,168 $ 6,090
Basic earnings per share (Note 15) (in dollars per share) $ 2.03 $ 1.70 $ 1.68
Diluted earnings per share (Note 15) (in dollars per share) 2.02 1.70 1.68
Dividends declared per share (in dollars per share) [1] $ 0.71 $ 0.64 [2] $ 0.62 [2]
[1] Adjusted for 5% stock dividend issued on May 31, 2018.
[2] Adjusted for 5% stock dividend issued on May 31, 2017.