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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest and dividend income        
Loans, including fees $ 12,412 $ 12,170 $ 24,189 $ 23,487
Taxable securities 940 821 1,787 1,622
Tax-exempt securities 784 661 1,496 1,315
Federal funds sold and other 92 87 448 367
Total interest income 14,228 13,739 27,920 26,791
Interest expense        
Deposits 428 485 892 974
Federal Home Loan Bank advances 170 91 258 201
Subordinated debentures 258 218 499 430
Other 5 5 10 11
Total interest expense 861 799 1,659 1,616
Net interest income 13,367 12,940 26,261 25,175
Provision (credit) for loan losses   (1,300)   (1,300)
Net interest income after provision (credit) for loan losses 13,367 14,240 26,261 26,475
Noninterest income        
Service charges 1,387 1,391 2,432 2,520
Net gain on sale of securities   6   1
Net gain on sale of loans 478 406 735 800
ATM fees 567 535 1,076 1,043
Wealth management fees 738 666 1,445 1,300
Bank owned life insurance 143 151 287 266
Tax refund processing fees 550 550 2,750 2,750
Other 238 370 512 655
Total noninterest income 4,101 4,075 9,237 9,335
Noninterest expense        
Salaries, wages and benefits 7,178 6,354 14,296 12,678
Net occupancy expense 655 670 1,312 1,301
Equipment expense 418 368 747 664
Contracted data processing 429 395 818 750
FDIC assessment 133 179 298 431
State franchise tax 255 240 512 458
Professional services 733 517 1,184 1,019
Amortization of intangible assets 158 172 325 355
ATM expense 214 75 468 196
Marketing 276 275 528 561
Other operating expenses 2,100 1,805 3,563 3,544
Total noninterest expense 12,549 11,050 24,051 21,957
Income before taxes 4,919 7,265 11,447 13,853
Income tax expense 1,323 2,084 3,216 3,947
Net Income 3,596 5,181 8,231 9,906
Preferred stock dividends 308 391 627 782
Net income available to common shareholders $ 3,288 $ 4,790 $ 7,604 $ 9,124
Earnings per common share, basic $ 0.32 $ 0.61 $ 0.79 $ 1.16
Earnings per common share, diluted $ 0.29 $ 0.47 $ 0.68 $ 0.91