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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
INTEREST INCOME:    
Interest and fees on loans $ 7,733,000 $ 7,286,000
Interest on deposits in other banks 74,000 46,000
Interest and dividends on investment securities:    
Taxable 1,523,000 1,107,000
Exempt from Federal income taxes 1,523,000 1,538,000
Total interest income 10,853,000 9,977,000
INTEREST EXPENSE:    
Interest on deposits 221,000 233,000
Interest on junior subordinated deferrable interest debentures 29,000 24,000
Total interest expense 250,000 257,000
Net interest income before provision for credit losses 10,603,000 9,720,000
PROVISION FOR CREDIT LOSSES (250,000) 0
Net interest income after provision for credit losses 10,853,000 9,720,000
NON-INTEREST INCOME:    
Service charges 749,000 871,000
Appreciation in cash surrender value of bank owned life insurance 145,000 154,000
Interchange fees 279,000 278,000
Net realized gains on sales of investment securities 1,130,000 726,000
Other-than-temporary impairment loss on investment securities (136,000) 0
Federal Home Loan Bank dividends 97,000 86,000
Loan placement fees 191,000 298,000
Other income 249,000 278,000
Total non-interest income 2,704,000 2,691,000
NON-INTEREST EXPENSES:    
Salaries and employee benefits 5,254,000 5,163,000
Occupancy and equipment 1,207,000 1,150,000
Professional services 336,000 481,000
Data processing expense 347,000 281,000
Regulatory assessments 143,000 336,000
ATM and Debit card expenses 122,000 137,000
License and maintenance contract 132,000 138,000
Directors' Expenses 171,000 128,000
Advertising 159,000 159,000
Internet banking expense 161,000 203,000
Amortization of core deposit intangibles 34,000 84,000
Other expense 910,000 1,028,000
Total non-interest expenses 8,976,000 9,288,000
Income before provision for income taxes 4,581,000 3,123,000
Provision for income taxes 1,178,000 657,000
Net income 3,403,000 2,466,000
Net income available to common shareholders $ 3,403,000 $ 2,466,000
Net income per common share:    
Basic earnings per common share (in dollars per share) $ 0.31 $ 0.23
Weighted average common shares used in basic computation (in shares) 10,953,845 10,923,590
Diluted earnings per common share (in dollars per share) $ 0.31 $ 0.22
Weighted average common shares used in diluted computation (in shares) 11,040,790 11,002,976
Cash dividend per common share $ 0.06 $ 0