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Consolidated Statements of Earnings - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Loans:      
Taxable $ 23,642 $ 20,952 $ 21,010
Tax-exempt 244 134 244
Investment securities:      
Taxable 5,299 4,686 4,551
Tax-exempt 3,968 3,928 3,425
Total interest income 33,153 29,700 29,230
Interest expense:      
Deposits 3,056 1,569 1,134
Subordinated debentures 1,079 898 787
Borrowings 1,230 1,118 1,270
Total interest expense 5,365 3,585 3,191
Net interest income 27,788 26,115 26,039
Provision for loan losses 1,400 450 500
Net interest income after provision for loan losses 26,388 25,665 25,539
Non-interest income:      
Fees and service charges 7,289 7,358 7,268
Gains on sales of loans, net 5,023 [1] 5,390 [1] 5,476
Increase in cash surrender value of bank owned life insurance 644 [1] 912 [1] 508
Gains on sales of investment securities, net 20 498 558
Other 2,595 1,126 1,040
Total non-interest income 15,571 15,284 14,850
Non-interest expense:      
Compensation and benefits 16,042 15,141 15,313
Occupancy and equipment 4,333 4,283 4,334
Data processing 1,525 1,402 1,419
Amortization of intangibles 1,111 1,258 1,397
Professional fees 1,677 1,695 1,081
Advertising 589 589 573
Federal deposit insurance premiums 291 292 369
Foreclosure and real estate owned expense 100 238 258
Deposit-related loss 8,082
Other 4,697 4,497 4,370
Total non-interest expense 30,365 37,477 29,114
Earnings before income taxes 11,594 3,472 11,275
Income tax expense (benefit) 1,168 (897) 2,314
Net earnings $ 10,426 $ 4,369 $ 8,961
Earnings per share:      
Basic [2] $ 2.40 $ 1.02 $ 2.13
Diluted [2] $ 2.39 $ 1.01 $ 2.10
[1] Not within the scope of ASC 606.
[2] All per share amounts have been adjusted to give effect to the 5% stock dividends paid during December 2018, 2017 and 2016.