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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
INTEREST INCOME:        
Interest and fees on loans $ 8,677 $ 6,111 $ 19,523 $ 18,248
Interest on deposits in other banks 45 36 104 70
Interest on Federal funds sold 0 0 0 1
Interest and dividends on investment securities:        
Taxable 588 741 1,341 2,694
Exempt from Federal income taxes 1,593 1,118 4,329 3,233
Total interest income 10,903 8,006 25,297 24,246
INTEREST EXPENSE:        
Interest on deposits 342 371 947 1,307
Interest on junior subordinated deferrable interest debentures 25 27 74 82
Other 0 36 17 109
Total interest expense 367 434 1,038 1,498
Net interest income before provision for credit losses 10,536 7,572 24,259 22,748
PROVISION FOR CREDIT LOSSES 0 0 0 500
Net interest income after provision for credit losses 10,536 7,572 24,259 22,248
NON-INTEREST INCOME:        
Service charges 911 690 2,282 2,055
Appreciation in cash surrender value of bank owned life insurance 149 101 342 291
Loan placement fees 128 181 507 408
Interchange fees 268 198 678 570
Net realized gain on sale of assets 0 0 1 4
Net gain on disposal of other real estate owned 0 0 0 12
Net realized gains on sales of investment securities 0 843 1,133 1,287
Federal Home Loan Bank dividends 59 4 113 11
Other income 298 267 811 775
Total non-interest income 1,813 2,284 5,867 5,413
NON-INTEREST EXPENSES:        
Salaries and employee benefits 5,048 3,773 12,916 11,859
Occupancy and equipment 1,134 906 2,936 2,664
Regulatory assessments 220 163 517 488
Data processing expense 357 274 949 851
Advertising 124 139 346 419
Audit and accounting fees 135 126 406 379
Legal fees (18) 36 84 118
Acquisition and integration 271 0 784 0
Other real estate owned, net 5 6 5 78
Amortization of core deposit intangibles 84 50 184 150
Other expense 1,631 1,182 4,021 3,285
Total non-interest expenses 8,991 6,655 23,148 20,291
Income before provision for income taxes 3,358 3,201 6,978 7,370
Provision for income taxes 389 745 939 1,492
Net income 2,969 2,456 6,039 5,878
Preferred stock dividends and accretion 87 87 262 262
Net income available to common shareholders $ 2,882 $ 2,369 $ 5,777 $ 5,616
Net income per common share:        
Basic earnings per common share (in dollars per share) $ 0.26 $ 0.25 $ 0.58 $ 0.59
Weighted average common shares used in basic computation (in shares) 10,899,086 9,602,473 10,020,057 9,588,321
Diluted earnings per common share (in dollars per share) $ 0.26 $ 0.25 $ 0.57 $ 0.58
Weighted average common shares used in diluted computation (in shares) 10,958,811 9,635,339 10,080,034 9,613,202
Cash dividend per common share $ 0.05 $ 0 $ 0.15 $ 0