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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Interest income    
Interest and fees on loans (includes tax-exempt income of $186,000 in 2017 and $148,000 in 2016) $ 10,652 $ 9,734
Interest on deposits with other banks 15 3
Interest and dividends on investments (includes tax-exempt income of $1,569,000 in 2017 and $1,237,000 in 2016) 3,824 3,539
Total interest income 14,491 13,276
Interest expense    
Interest on deposits 1,994 1,353
Interest on borrowed funds 1,021 1,194
Total interest expense 3,015 2,547
Net interest income 11,476 10,729
Provision for loan losses 500 375
Net interest income after provision for loan losses 10,976 10,354
Non-interest income    
Investment management and fiduciary income 631 563
Service charges on deposit accounts 502 574
Net securities gains 3 536
Mortgage origination and servicing income, net of amortization 332 129
Other operating income 1,375 1,162
Total non-interest income 2,843 2,964
Non-interest expense    
Salaries and employee benefits 3,970 3,598
Occupancy expense 624 578
Furniture and equipment expense 870 796
FDIC insurance premiums 240 214
Amortization of identified intangibles 11 11
Other operating expense 1,983 2,003
Total non-interest expense 7,698 7,200
Income before income taxes 6,121 6,118
Income tax expense 1,484 1,615
NET INCOME $ 4,637 $ 4,503
Basic earnings per common share (usd per share) $ 0.43 $ 0.42
Diluted earnings per common share (usd per share) $ 0.43 $ 0.42
Other comprehensive income (loss) net of tax    
Net unrealized gain on securities available for sale $ 1 $ 1,852
Net unrealized loss on securities transferred from available for sale to held to maturity, net of amortization (4) (11)
Net unrealized gain on cash flow hedging derivative instruments 63 0
Other comprehensive income 60 1,841
Comprehensive income $ 4,697 $ 6,344