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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest and dividend income:        
Loans, including fees $ 13,709 $ 12,487 $ 39,025 $ 37,054
Taxable securities 1,369 1,225 4,189 3,943
Tax exempt securities 322 228 836 722
Interest-bearing deposits 97 85 445 180
Total interest and dividend income 15,497 14,025 44,495 41,899
Interest expense:        
Deposits 545 561 1,632 1,607
Securities sold under agreements to repurchase 95 214 383 636
Borrowed funds 94 210 273 623
Total interest expense 734 985 2,288 2,866
Net interest income 14,763 13,040 42,207 39,033
Provision for loan losses 1,289 1,050 2,750 2,033
Net interest income after provision for loan losses 13,474 11,990 39,457 37,000
Non-interest income:        
WMG fee income 2,147 2,027 6,525 6,240
Service charges on deposit accounts 1,269 1,361 3,678 3,781
Interchange revenue from debit card transactions 925 1,203 2,809 3,035
Net gains on securities transactions 0 75 12 983
Net gains on sales of loans held for sale 71 115 193 273
Net gains (losses) on sales of other real estate owned 30 10 38 (6)
Income from bank-owned life insurance 17 19 52 55
Other 707 625 1,728 1,891
Total non-interest income 5,166 5,435 15,035 16,252
Non-interest expenses:        
Salaries and wages 5,480 5,355 16,177 15,720
Pension and other employee benefits 992 1,573 3,417 4,894
Net occupancy expenses 1,476 1,503 4,784 5,287
Furniture and equipment expenses 657 685 2,119 2,286
Data processing expense 1,667 1,624 4,858 5,058
Professional services 452 502 1,169 1,418
Legal accruals and settlements 0 0 850 1,200
Amortization of intangible assets 214 245 653 748
Marketing and advertising expenses 213 101 580 648
Other real estate owned expenses 4 41 35 150
FDIC insurance 312 324 946 895
Loan expense 165 162 447 462
Other 1,644 1,356 4,618 4,283
Total non-interest expenses 13,276 13,471 40,653 43,049
Income before income tax expense 5,364 3,954 13,839 10,203
Income tax expense 1,710 1,209 4,250 3,130
Net income $ 3,654 $ 2,745 $ 9,589 $ 7,073
Weighted average shares outstanding (in shares) 4,802 4,765 4,796 4,758
Basic and diluted earnings per share (in dollars per share) $ 0.76 $ 0.58 $ 2.00 $ 1.49