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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Loans        
Taxable $ 5,835 $ 5,654 $ 11,454 $ 10,895
Nontaxable 9 13 15 29
Securities        
Taxable 395 310 767 619
Nontaxable 175 179 352 354
Total interest income 6,414 6,156 12,588 11,897
Interest expense        
Deposits 500 503 995 1,001
Repurchase Agreements & Other 4 4 9 15
Federal Home Loan Bank advances 94 71 186 145
Trust preferred securities 53 330 104 663
Total interest expense 651 908 1,294 1,824
Net interest income 5,763 5,248 11,294 10,073
Provision for loan losses 500 150 850 150
Net interest income after provision for loan losses 5,263 5,098 10,444 9,923
Noninterest income        
Wealth Management Fees 666 649 1,325 1,281
Customer service fees 702 665 1,334 1,275
Gain on sale of mtg. loans & OMSR's 1,771 1,211 3,205 1,783
Mortgage loan servicing fees, net 521 156 545 401
Gain on sale of non-mortgage loans 321 84 575 107
Data service fees $ 306 322 $ 623 628
Net gain on sales of securities   56   56
Loss on sale/disposal of assets $ (1) (15) $ (20) (49)
Other income 157 167 452 372
Total non-interest income 4,443 3,295 8,039 5,854
Noninterest expense        
Salaries and employee benefits 3,935 3,451 7,412 6,571
Net occupancy expense 480 485 983 1,058
Equipment expense 524 645 1,089 1,284
Data processing fees 247 249 510 460
Professional fees 426 465 866 803
Marketing expense 142 170 291 293
Telephone and communication 98 107 188 219
Postage and delivery expense 201 187 435 391
State, local and other taxes 128 95 257 187
Employee expense 138 140 291 255
Intangible amortization expense 55 131 109 262
Other expenses 444 502 1,031 922
Total non-interest expense 6,818 6,627 13,462 12,705
Income before income tax expense 2,888 1,766 5,021 3,072
Income tax expense 897 521 1,534 847
Net income 1,991 $ 1,245 3,487 $ 2,225
Preferred Stock Dividends 244   469  
Net income available to common shareholders $ 1,747 $ 1,245 $ 3,018 $ 2,225
Common share data:        
Basic earnings per common share $ 0.36 $ 0.26 $ 0.62 $ 0.46
Diluted earnings per common share $ 0.31 $ 0.25 $ 0.54 $ 0.46
Average common shares outstanding ( in thousands):        
Basic: 4,884 4,875 4,873 4,873
Diluted: 6,382 4,893 6,381 4,894