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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest Income        
Interest and fees on loans $ 7,622 $ 7,453 $ 15,154 $ 14,906
Interest on interest-bearing deposits 226 231 398 379
Interest on securities – taxable 1,746 1,397 3,354 2,799
Interest on securities – nontaxable 1,132 1,214 2,304 2,449
Total interest income 10,726 10,295 21,210 20,533
Interest Expense        
Interest on time deposits 116 135 237 280
Interest on other deposits 1,029 913 1,989 1,796
Total interest expense 1,145 1,048 2,226 2,076
Net interest income 9,581 9,247 18,984 18,457
Provision for loan losses 342 464 (130) 523
Net interest income after provision for loan losses 9,239 8,783 19,114 17,934
Noninterest Income:        
Noninterest Income     3,117 2,961
BOLI income 228 146 456 289
Other income 173 192 519 520
Realized securities gain, net 4 4
Total noninterest income 1,868 1,731 3,891 3,581
Noninterest Expense        
Salaries and employee benefits 3,545 3,419 7,239 6,942
Occupancy and furniture and fixtures 491 469 963 907
Data processing and ATM 607 542 1,340 1,108
FDIC assessment 90 91 181 186
Intangible assets amortization 12 12 25 43
Net costs of other real estate owned 164 55 249 84
Franchise taxes 320 329 651 651
Write-down of insurance receivable 287 2,010
Other operating expenses 908 1,057 1,930 2,336
Total noninterest expense 6,424 5,974 14,588 12,257
Income before income taxes 4,683 4,540 8,417 9,258
Income tax expense 642 970 1,080 2,039
Net Income $ 4,041 $ 3,570 $ 7,337 $ 7,219
Basic net income per common share (in dollars per share) $ 580 $ 510 $ 1,050 $ 1,040
Fully diluted net income per common share (in dollars per share) $ 0.58 $ 0.51 $ 1.05 $ 1.04
Weighted average number of common shares outstanding – basic and diluted (in shares) 6,957,974 6,957,974 6,957,974 6,957,974
Dividends declared per common share (in dollars per share) $ 0.58 $ 0.56 $ 0.58 $ 0.56
Deposit Account [Member]        
Noninterest Income:        
Noninterest Income $ 694 $ 692 $ 1,364 $ 1,357
Product and Service, Other [Member]        
Noninterest Income:        
Noninterest Income 34 41 67 110
Credit and Debit Card [Member]        
Noninterest Income:        
Noninterest Income 365 295 709 539
Fiduciary and Trust [Member]        
Noninterest Income:        
Noninterest Income $ 374 $ 361 $ 776 $ 762