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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Interest income    
Interest and fees on loans (includes tax-exempt income of $310,000 as of March 31, 2020 and $358,000 as of March 31, 2019) $ 15,856 $ 14,557
Interest on deposits with other banks 74 68
Interest and dividends on investments (includes tax-exempt income of $1,841,000 as of March 31, 2020 and $1,755,000 as of March 31, 2019) 4,764 4,643
Total interest income 20,694 19,268
Interest expense    
Interest on deposits 5,186 5,577
Interest on borrowed funds 590 792
Total interest expense 5,776 6,369
Net interest income 14,918 12,899
Provision for loan losses 400 375
Net interest income after provision for loan losses 14,518 12,524
Non-interest income    
Net securities gains 752 0
Other operating income 1,494 1,514
Total non-interest income 4,221 3,144
Non-interest expense    
Salaries and employee benefits 5,025 4,410
Occupancy expense 713 652
Furniture and equipment expense 1,116 975
FDIC insurance premiums 173 208
Amortization of identified intangibles 11 11
Other operating expense 4,005 2,142
Total non-interest expense 11,043 8,398
Income before income taxes 7,696 7,270
Income tax expense 1,201 1,114
NET INCOME $ 6,495 $ 6,156
Basic earnings per common share (usd per share) $ 0.60 $ 0.57
Diluted earnings per common share (usd per share) $ 0.60 $ 0.57
Other comprehensive income (loss) net of tax    
Net unrealized gain on securities available for sale $ 4,233 $ 3,512
Net unrealized gain on securities transferred from available for sale to held to maturity, net of amortization 8 3
Net unrealized loss on cash flow hedging derivative instruments (4,870)  
Net unrealized loss on cash flow hedging derivative instruments   (465)
Other comprehensive income (loss) (629) 3,050
Comprehensive income 5,866 9,206
Investment management and fiduciary income    
Non-interest income    
Non-interest income 894 773
Service charges on deposit accounts    
Non-interest income    
Non-interest income 577 561
Mortgage origination and servicing income, net of amortization    
Non-interest income    
Non-interest income $ 504 $ 296