XML 23 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statement of Income - USD ($)
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
INTEREST AND DIVIDEND INCOME    
Interest and fees on loans $ 46,576,000 $ 40,235,000
Interest-earning deposits in other institutions 558,000 328,000
Federal funds sold 46,000 15,000
Investment securities:    
Taxable interest 688,000 762,000
Tax-exempt interest 2,262,000 2,406,000
Dividends on stock 227,000 249,000
Total interest and dividend income 50,357,000 43,995,000
INTEREST EXPENSE    
Deposits 8,631,000 5,350,000
Short-term borrowings 842,000 753,000
Other borrowings 436,000 544,000
Total interest expense 9,909,000 6,647,000
NET INTEREST INCOME 40,448,000 37,348,000
Provision for loan losses 840,000 1,045,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 39,608,000 36,303,000
NONINTEREST INCOME    
Investment securities gains on sale, net [1] 886,000
Loss on equity securities [1] (9,000)
Earnings on bank-owned life insurance [1] 428,000 431,000
Gain on sale of loans [1] 231,000 826,000
Total noninterest income 3,728,000 4,859,000
NONINTEREST EXPENSE    
Salaries and employee benefits 15,749,000 13,758,000
Occupancy expense 1,933,000 1,846,000
Equipment expense 969,000 1,050,000
Data processing costs 1,806,000 1,792,000
Ohio state franchise tax 823,000 744,000
Federal deposit insurance expense 550,000 533,000
Professional fees 1,482,000 1,752,000
Advertising expense 921,000 821,000
Software amortization expense 605,000 414,000
Core deposit intangible amortization 352,000 374,000
Merger expense 1,060,000
Other expense 3,553,000 3,341,000
Total noninterest expense 28,743,000 27,485,000
Income before income taxes 14,593,000 13,677,000
Income taxes 2,162,000 4,222,000
NET INCOME $ 12,431,000 $ 9,455,000
EARNINGS PER SHARE    
Basic (in dollars per share) $ 3.85 $ 3.12
Diluted (in dollars per share) 3.83 3.10
DIVIDENDS DECLARED PER SHARE (in dollars per share) $ 1.17 $ 1.08
Deposit Account [Member]    
NONINTEREST INCOME    
Noninterest income revenue $ 1,914,000 $ 1,875,000
Financial Service, Other [Member]    
NONINTEREST INCOME    
Noninterest income revenue $ 1,164,000 $ 841,000
[1] Not within scope of ASC 606