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Consolidated Statements of Earnings (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income:        
Interest and fees on loans $ 7,973 $ 7,333 $ 15,996 $ 14,926
Interest on due from banks 18 7 35 17
Interest on investment securities:        
U.S. Government sponsored enterprises 649 613 1,307 1,326
State and political subdivisions 1,118 1,157 2,245 2,320
Other 57 81 137 169
Total interest income 9,815 9,191 19,720 18,758
Interest expense:        
NOW, MMDA & savings deposits 121 106 241 218
Time deposits 148 226 310 474
FHLB borrowings 416 433 822 851
Junior subordinated debentures 118 99 231 196
Other 10 11 18 20
Total interest expense 813 875 1,622 1,759
Net interest income 9,002 8,316 18,098 16,999
Provision for (reduction of provision for) loan losses (531) (214) (748) (41)
Net interest income after provision for loan losses 9,533 8,530 18,846 17,040
Non-interest income:        
Service charges 1,087 1,171 2,128 2,305
Other service charges and fees 202 190 536 545
Gain on sale of securities 324 0 324 0
Mortgage banking income 292 271 661 510
Insurance and brokerage commissions 156 203 314 365
Gain/(loss) on sale and write-down of other real estate 3 79 80 166
Miscellaneous 1,508 1,383 2,853 2,651
Total non-interest income 3,572 3,297 6,896 6,542
Non-interest expense:        
Salaries and employee benefits 4,704 4,286 9,285 9,086
Occupancy 1,734 1,482 3,488 2,966
Professional fees 239 301 1,174 556
Advertising 148 218 310 403
Debit card expense 333 246 599 482
FDIC insurance 164 172 335 348
Other 1,787 1,632 3,410 3,244
Total non-interest expense 9,109 8,337 18,601 17,085
Earnings before income taxes 3,996 3,490 7,141 6,497
Income tax expense 1,032 866 1,723 1,545
Net earnings $ 2,964 $ 2,624 $ 5,418 $ 4,952
Basic net earnings per share $ 0.54 $ 0.47 $ 0.98 $ 0.89
Diluted net earnings per share 0.53 0.47 0.97 0.88
Cash dividends declared per share $ 0.10 $ 0.06 $ 0.18 $ 0.12