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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest and dividend income        
Loans, including fees $ 11,270 $ 9,850 $ 21,516 $ 19,632
Taxable securities 796 893 1,629 1,765
Tax-exempt securities 640 580 1,264 1,155
Federal funds sold and other 34 42 94 128
Total interest income 12,740 11,365 24,503 22,680
Interest expense        
Deposits 533 573 1,075 1,188
Federal Home Loan Bank advances 94 327 215 651
Subordinated debentures 193 195 373 399
Other 4 4 9 10
Total interest expense 824 1,099 1,672 2,248
Net interest income 11,916 10,266 22,831 20,432
Provision for loan losses 400 750 800 1,500
Net interest income after provision for loan losses 11,516 9,516 22,031 18,932
Noninterest income        
Service charges 1,170 1,064 2,225 2,074
Net gain on sale of securities   107   112
Net gain on sale of loans 415 128 619 231
ATM fees 515 477 964 906
Trust fees 734 786 1,501 1,574
Bank owned life insurance 116 126 233 255
Tax refund processing fees 400 438 2,000 2,315
Other 302 254 511 537
Total noninterest income 3,652 3,380 8,053 8,004
Noninterest expense        
Salaries, wages and benefits 5,809 5,281 11,708 11,008
Net occupancy expense 615 573 1,239 1,262
Equipment expense 365 361 728 703
Contracted data processing 545 392 993 711
FDIC assessment 225 250 462 487
State franchise tax 217 230 456 440
Professional services 663 403 1,119 794
Amortization of intangible assets 192 201 334 403
ATM expense 162 200 445 403
Marketing 308 402 544 794
Other operating expenses 1,832 1,686 3,509 3,403
Total noninterest expense 10,933 9,979 21,537 20,408
Income before taxes 4,235 2,917 8,547 6,528
Income tax expense 1,113 677 2,255 1,577
Net Income 3,122 2,240 6,292 4,951
Preferred stock dividends and discount accretion 391 406 795 1,061
Net income available to common shareholders $ 2,731 $ 1,834 $ 5,497 $ 3,890
Earnings per common share, basic $ 0.35 $ 0.24 $ 0.71 $ 0.50
Earnings per common share, diluted $ 0.29 $ 0.21 $ 0.58 $ 0.43