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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ 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 $ 10,489 $ 9,085 $ 31,410 $ 26,147
Securities        
Taxable 535 486 1,559 1,465
Tax exempt 104 111 312 337
Dividends 101 75 287 222
Other Interest 88 67 476 336
11,317 9,824 34,044 28,507
Interest expense:        
Deposits 757 597 1,985 1,605
Other borrowed funds 228 190 673 462
Subordinated debentures 64 52 182 149
1,049 839 2,840 2,216
Net interest income 10,268 8,985 31,204 26,291
Provision for loan losses 1,601 1,708 1,921 2,328
Net interest income after provision for loan losses 8,667 7,277 29,283 23,963
Noninterest income:        
Service charges on deposit accounts 541 575 1,575 1,414
Trust fees 64 58 177 174
Income from bank owned life insurance and annuity assets 577 175 981 575
Mortgage banking income 59 44 164 162
Electronic refund check / deposit fees 13 1,667 2,037
Debit / credit card interchange income 863 653 2,506 1,864
Gain (loss) on other real estate owned (23) (8) (94)
Other 201 183 531 563
2,282 1,693 7,507 6,789
Noninterest expense:        
Salaries and employee benefits 5,019 5,032 15,528 14,130
Occupancy 449 466 1,331 1,300
Furniture and equipment 269 285 787 671
Professional fees 434 342 1,338 1,020
Marketing expense 273 249 785 744
FDIC insurance 99 81 366 378
Data processing 564 380 1,652 1,069
Software 365 368 1,102 962
Foreclosed assets 158 61 425 247
Amortization of intangibles 38 120
Merger related expenses 6 416 33 777
Other 1,548 1,148 5,006 3,272
9,222 8,828 28,473 24,570
Income before income taxes 1,727 142 8,317 6,182
Provision for income taxes 74 (216) 1,706 1,286
NET INCOME $ 1,653 $ 358 $ 6,611 $ 4,896
Earnings per share (in dollars per share) $ 0.35 $ 0.08 $ 1.41 $ 1.15