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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Interest income    
Interest and fees on loans $ 18,887 $ 15,849
Interest on investment securities    
Securities of U.S. government agencies 2,475 1,518
Obligations of state and political subdivisions 638 568
Corporate debt securities and other 44 37
Interest on Federal funds sold and due from banks 403 60
Total interest income 22,447 18,032
Interest expense    
Interest on interest-bearing transaction accounts 52 29
Interest on savings accounts 18 15
Interest on money market accounts 216 113
Interest on time accounts 156 146
Interest on subordinated debentures 114 108
Total interest expense 556 411
Net interest income 21,891 17,621
Provision for loan losses 0 0
Net interest income after provision for loan losses 21,891 17,621
Non-interest income    
Service charges on deposit accounts 477 452
Wealth Management and Trust Services 515 503
Debit card interchange fees 396 372
Merchant interchange fees 80 96
Earnings on bank-owned life insurance 228 209
Dividends on FHLB stock 196 232
Other income 350 251
Total non-interest income 2,242 2,115
Non-interest expense    
Salaries and related benefits 9,017 7,475
Occupancy and equipment 1,507 1,319
Depreciation and amortization 547 481
Federal Deposit Insurance Corporation insurance 191 161
Data processing 1,381 939
Professional services 1,299 522
Directors' expense 174 158
Information technology 269 198
Provision for losses on off-balance sheet commitments 0 165
Other expense 1,696 1,593
Total non-interest expense 16,081 13,011
Income before provision for income taxes 8,052 6,725
Provision for income taxes 1,663 2,177
Net income $ 6,389 $ 4,548
Net income per common share:    
Basic (usd per share) $ 0.92 $ 0.75
Diluted (usd per share) $ 0.91 $ 0.74
Weighted average shares:    
Basic (shares) 6,914 6,092
Diluted (shares) 7,006 6,172
Dividends declared per common share (usd per share) $ 0.29 $ 0.27
Comprehensive income:    
Net income $ 6,389 $ 4,548
Other comprehensive (loss) income    
Change in net unrealized gain or loss on available-for-sale securities (6,170) 4,710
Net unrealized loss on securities transferred from available-for-sale to held-to-maturity 0 (3,036)
Amortization of net unrealized losses on securities transferred from available-for-sale to held-to-maturity 136 41
Subtotal (6,034) 1,715
Deferred tax (benefit) expense (1,784) 704
Other comprehensive (loss) income, net of tax (4,250) 1,011
Comprehensive income $ 2,139 $ 5,559