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Consolidated Statements of Earnings (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest income:        
Interest and fees on loans $ 8,689 $ 7,973 $ 16,969 $ 15,996
Interest on due from banks 48 18 78 35
Interest on investment securities:        
U.S. Government sponsored enterprises 613 649 1,217 1,307
State and political subdivisions 1,067 1,118 2,151 2,245
Other 44 57 110 137
Total interest income 10,461 9,815 20,525 19,720
Interest expense:        
NOW, MMDA & savings deposits 143 121 275 241
Time deposits 120 148 248 310
FHLB borrowings 201 416 393 822
Junior subordinated debentures 145 118 280 231
Other 13 10 24 18
Total interest expense 622 813 1,220 1,622
Net interest income 9,839 9,002 19,305 18,098
Provision for (reduction of provision for) loan losses 49 (531) (187) (748)
Net interest income after provision for loan losses 9,790 9,533 19,492 18,846
Non-interest income:        
Service charges 1,094 1,087 2,200 2,128
Other service charges and fees 147 202 302 536
Gain on sale of securities 0 324 0 324
Mortgage banking income 319 292 665 661
Insurance and brokerage commissions 179 156 347 314
Gain/(loss) on sale and write-down of other real estate 0 3 (283) 80
Miscellaneous 1,542 1,508 2,926 2,853
Total non-interest income 3,281 3,572 6,157 6,896
Non-interest expense:        
Salaries and employee benefits 4,871 4,704 10,105 9,285
Occupancy 1,699 1,734 3,312 3,488
Professional fees 236 239 485 1,174
Advertising 366 148 612 310
Debit card expense 268 333 574 599
FDIC insurance 87 164 173 335
Other 1,808 1,787 3,869 3,410
Total non-interest expense 9,335 9,109 19,130 18,601
Earnings before income taxes 3,736 3,996 6,519 7,141
Income tax expense 925 1,032 1,503 1,723
Net earnings $ 2,811 $ 2,964 $ 5,016 $ 5,418
Basic net earnings per share $ 0.52 $ 0.54 $ 0.92 $ 0.98
Diluted net earnings per share 0.51 0.53 0.91 0.97
Cash dividends declared per share $ 0.12 $ 0.10 $ 0.24 $ 0.18