XML 16 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest and dividend income:        
Loans, including fees $ 14,580 $ 13,709 $ 42,930 $ 39,025
Taxable securities 1,200 1,369 3,753 4,189
Tax exempt securities 272 322 875 836
Interest-earning deposits 84 97 116 445
Total interest and dividend income 16,136 15,497 47,674 44,495
Interest expense:        
Deposits 858 545 1,967 1,632
Securities sold under agreements to repurchase 0 95 137 383
Borrowed funds 199 94 574 273
Total interest expense 1,057 734 2,678 2,288
Net interest income 15,079 14,763 44,996 42,207
Provision for loan losses 300 1,289 3,371 2,750
Net interest income after provision for loan losses 14,779 13,474 41,625 39,457
Non-interest income:        
Changes in fair value of equity investments 2,141 32 2,165 96
Financial services revenue 79 71 184 193
Net gains on sales of other real estate owned 123 30 119 38
Income from bank-owned life insurance 17 17 50 52
Other 402 675 2,016 1,632
Total non-interest income 7,381 5,166 18,181 15,035
Non-interest expenses:        
Salaries and wages 5,691 5,480 16,969 16,177
Pension and other employee benefits 1,262 1,325 4,438 4,416
Other components of net periodic pension and postretirement benefits (408) (333) (1,224) (999)
Net occupancy 1,671 1,476 4,922 4,784
Furniture and equipment 581 657 1,941 2,119
Data processing 1,782 1,667 5,288 4,858
Professional services 479 452 1,527 1,169
Legal accruals and settlements 0 0 989 850
Amortization of intangible assets 182 214 558 653
Marketing and advertising 212 213 816 580
Other real estate owned 83 4 321 35
FDIC insurance 263 312 881 946
Loan expense 262 165 615 447
Other 1,368 1,644 4,520 4,618
Total non-interest expenses 13,428 13,276 42,561 40,653
Income before income tax expense 8,732 5,364 17,245 13,839
Income tax expense 1,802 1,710 3,349 4,250
Net income $ 6,930 $ 3,654 $ 13,896 $ 9,589
Weighted average shares outstanding (in shares) 4,834 4,802 4,828 4,796
Basic and diluted earnings per share (in dollars per share) $ 1.43 $ 0.76 $ 2.88 $ 2.00
WMG fee income        
Non-interest income:        
Revenue from contract with customer, including assessed tax $ 2,406 $ 2,147 $ 7,095 $ 6,525
Service charges on deposit accounts        
Non-interest income:        
Revenue from contract with customer, including assessed tax 1,231 1,269 3,539 3,678
Interchange revenue from debit card transactions        
Non-interest income:        
Revenue from contract with customer, including assessed tax 982 925 3,013 2,809
Net gains (losses) on security transactions        
Non-interest income:        
Revenue from contract with customer, including assessed tax $ 0 0 $ 0 12
Financial services revenue   $ 0   $ 12