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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
INTEREST INCOME:        
Interest and fees on loans $ 8,363,000 $ 7,644,000 $ 16,096,000 $ 14,930,000
Interest on deposits in other banks 65,000 52,000 139,000 98,000
Interest and dividends on investment securities:        
Taxable 1,463,000 1,136,000 2,986,000 2,243,000
Exempt from Federal income taxes 1,575,000 1,496,000 3,098,000 3,034,000
Total interest income 11,466,000 10,328,000 22,319,000 20,305,000
INTEREST EXPENSE:        
Interest on deposits 229,000 239,000 450,000 472,000
Interest on junior subordinated deferrable interest debentures 29,000 24,000 58,000 48,000
Total interest expense 258,000 263,000 508,000 520,000
Net interest income before provision for credit losses 11,208,000 10,065,000 21,811,000 19,785,000
PROVISION FOR CREDIT LOSSES (4,600,000) 500,000 (4,850,000) 500,000
Net interest income after provision for credit losses 15,808,000 9,565,000 26,661,000 19,285,000
NON-INTEREST INCOME:        
Service charges 735,000 749,000 1,484,000 1,621,000
Appreciation in cash surrender value of bank owned life insurance 135,000 155,000 280,000 308,000
Interchange fees 312,000 306,000 591,000 584,000
Net realized gains on sales of investment securities 420,000 732,000 1,550,000 1,459,000
Other-than-temporary impairment loss on investment securities 0 0 (136,000) 0
Federal Home Loan Bank dividends 107,000 268,000 204,000 353,000
Loan placement fees 254,000 255,000 445,000 553,000
Other income 551,000 631,000 800,000 909,000
Total non-interest income 2,514,000 3,096,000 5,218,000 5,787,000
NON-INTEREST EXPENSES:        
Salaries and employee benefits 5,442,000 5,055,000 10,696,000 10,218,000
Occupancy and equipment 1,180,000 1,168,000 2,387,000 2,318,000
Professional services 289,000 337,000 625,000 818,000
Data processing expense 408,000 294,000 755,000 574,000
Regulatory assessments 192,000 263,000 335,000 598,000
ATM and Debit card expenses 188,000 129,000 310,000 265,000
License and maintenance contract 131,000 131,000 263,000 269,000
Directors' Expenses 140,000 64,000 312,000 191,000
Advertising 154,000 158,000 313,000 316,000
Internet banking expense 166,000 171,000 327,000 375,000
Acquisition and integration 152,000 0 152,000 0
Amortization of core deposit intangibles 34,000 84,000 68,000 168,000
Other expense 901,000 843,000 1,810,000 1,876,000
Total non-interest expenses 9,377,000 8,697,000 18,353,000 17,986,000
Income before provision for income taxes 8,945,000 3,964,000 13,526,000 7,086,000
Provision for income taxes 2,887,000 886,000 4,065,000 1,542,000
Net income available to common shareholders $ 6,058,000 $ 3,078,000 $ 9,461,000 $ 5,544,000
Net income per common share:        
Basic earnings per common share (in dollars per share) $ 0.55 $ 0.28 $ 0.86 $ 0.51
Weighted average common shares used in basic computation (in shares) 10,970,782 10,924,437 10,962,314 10,924,015
Diluted earnings per common share (in dollars per share) $ 0.55 $ 0.28 $ 0.86 $ 0.50
Weighted average common shares used in diluted computation (in shares) 11,067,890 11,009,916 11,054,269 11,006,051
Cash dividend per common share $ 0.06 $ 0.06 $ 0.12 $ 0.06