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Consolidated Statements of Earnings (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 $ 9,386 $ 8,689 $ 18,455 $ 16,969
Interest on due from banks 124 48 169 78
Interest on investment securities:        
U.S. Government sponsored enterprises 524 613 1,130 1,217
State and political subdivisions 980 1,067 1,976 2,151
Other 45 44 88 110
Total interest income 11,059 10,461 21,818 20,525
Interest expense:        
NOW, MMDA & savings deposits 186 143 362 275
Time deposits 110 120 215 248
FHLB borrowings 0 201 0 393
Junior subordinated debentures 198 145 369 280
Other 19 13 34 24
Total interest expense 513 622 980 1,220
Net interest income 10,546 9,839 20,838 19,305
Provision for (reduction of provision for) loan losses 231 49 262 (187)
Net interest income after provision for loan losses 10,315 9,790 20,576 19,492
Non-interest income:        
Service charges 1,056 1,094 2,080 2,200
Other service charges and fees 175 147 355 302
Gain on sale of securities 50 0 50 0
Mortgage banking income 240 319 456 665
Insurance and brokerage commissions 203 179 385 347
Appraisal management fee income 854 849 1,643 1,592
Gain/(loss) on sale and write-down of other real estate (3) 0 3 (283)
Miscellaneous 1,441 1,341 2,780 2,548
Total non-interest income 4,016 3,929 7,752 7,371
Non-interest expense:        
Salaries and employee benefits 5,385 4,871 10,347 10,105
Occupancy 1,750 1,699 3,606 3,312
Professional fees 373 236 753 485
Advertising 260 366 501 612
Debit card expense 283 268 492 574
FDIC insurance 84 87 167 173
Appraisal management fee expense 654 648 1,246 1,214
Other 1,771 1,808 3,490 3,869
Total non-interest expense 10,560 9,983 20,602 20,344
Earnings before income taxes 3,771 3,736 7,726 6,519
Income tax expense 595 925 1,247 1,503
Net earnings $ 3,176 $ 2,811 $ 6,479 $ 5,016
Basic net earnings per share $ 0.53 $ 0.47 $ 1.08 $ 0.84
Diluted net earnings per share 0.53 0.47 1.08 0.83
Cash dividends declared per share $ 0.13 $ 0.11 $ 0.26 $ 0.22