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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Interest income    
Interest and fees on loans (includes tax-exempt income of $358,000 as of March 31, 2019 and $211,000 as of March 31, 2018) $ 14,557 $ 12,391
Interest on deposits with other banks 68 11
Interest and dividends on investments (includes tax-exempt income of $1,755,000 as of March 31, 2019 and $1,719,000 as of March 31, 2018) 4,643 4,049
Total interest income 19,268 16,451
Interest expense    
Interest on deposits 5,577 3,099
Interest on borrowed funds 792 943
Total interest expense 6,369 4,042
Net interest income 12,899 12,409
Provision for loan losses 375 500
Net interest income after provision for loan losses 12,524 11,909
Non-interest income    
Net securities gains 0 136
Other operating income 1,514 1,398
Total non-interest income 3,144 3,132
Non-interest expense    
Salaries and employee benefits 4,410 4,490
Occupancy expense 652 699
Furniture and equipment expense 975 929
FDIC insurance premiums 208 279
Amortization of identified intangibles 11 11
Other operating expense 2,142 2,171
Total non-interest expense 8,398 8,579
Income before income taxes 7,270 6,462
Income tax expense 1,114 956
NET INCOME $ 6,156 $ 5,506
Basic earnings per common share (usd per share) $ 0.57 $ 0.51
Diluted earnings per common share (usd per share) $ 0.57 $ 0.51
Other comprehensive income (loss) net of tax    
Net unrealized gain (loss) on securities available for sale $ 3,512 $ (3,309)
Net unrealized gain (loss) on securities transferred from available for sale to held to maturity, net of amortization 3 (8)
Net unrealized gain (loss) on cash flow hedging derivative instruments (465) 384
Other comprehensive income (loss) 3,050 (2,933)
Comprehensive income 9,206 2,573
Investment management and fiduciary income    
Non-interest income    
Non-interest income 773 740
Service charges on deposit accounts    
Non-interest income    
Non-interest income 561 527
Mortgage origination and servicing income, net of amortization    
Non-interest income    
Non-interest income $ 296 $ 331