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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Loans        
Taxable $ 6,954 $ 6,152 $ 19,862 $ 17,606
Nontaxable 22 10 55 25
Securities        
Taxable 378 382 1,172 1,149
Nontaxable 145 173 450 525
Total interest income 7,499 6,717 21,539 19,305
Interest expense        
Deposits 677 492 1,869 1,487
Repurchase Agreements & Other 5 5 14 14
Federal Home Loan Bank advances 83 94 266 280
Trust preferred securities 63 53 184 157
Total interest expense 828 644 2,333 1,938
Net interest income 6,671 6,073 19,206 17,367
Provision for loan losses 100 250 950
Net interest income after provision for loan losses 6,671 5,973 18,956 16,417
Noninterest income        
Wealth Management Fees 695 636 1,971 1,961
Customer service fees 692 734 2,052 2,068
Gain on sale of mtg. loans & OMSR's 2,503 1,687 6,170 4,892
Mortgage loan servicing fees, net 205 98 (514) 642
Gain on sale of non-mortgage loans 327 296 927 872
Data service fees 223 294 733 917
Net gain on sale of securities 59 262
Gain/(loss) on sale/disposal of assets (31) 177 (20)
Other income 342 207 983 659
Total non-interest income 5,015 3,952 12,761 11,991
Noninterest expense        
Salaries and employee benefits 4,672 3,650 12,765 11,062
Net occupancy expense 523 481 1,612 1,464
Equipment expense 649 568 1,883 1,657
Data processing fees 352 286 996 796
Professional fees 380 416 1,022 1,282
Marketing expense 123 146 493 437
Telephone and communication 101 96 302 284
Postage and delivery expense 154 198 513 633
State, local and other taxes 170 130 440 387
Employee expense 117 126 363 417
Intangible amortization expense 3 54 9 163
Other expenses 686 475 1,834 1,506
Total non-interest expense 7,930 6,626 22,232 20,088
Income before income tax expense 3,756 3,299 9,485 8,320
Income tax expense 1,209 1,035 3,018 2,569
Net income 2,547 2,264 6,467 5,751
Preferred Stock Dividends 244 244 731 712
Net income available to common shareholders $ 2,303 $ 2,020 $ 5,736 $ 5,039
Basic earnings per common share $ 0.47 $ 0.41 $ 1.17 $ 1.03
Diluted earnings per common share 0.4 0.35 1.01 0.89
Dividends per common share $ 0.06 $ 0.05 $ 0.175 $ 0.145
Average common shares outstanding (in thousands):        
Basic: 4,874 4,884 4,888 4,882
Diluted: 6,376 6,390 6,384 6,422