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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Loans        
Taxable $ 7,243 $ 6,648 $ 14,043 $ 12,908
Nontaxable 21 24 41 33
Securities        
Taxable 569 392 1,030 794
Nontaxable 133 149 266 305
Total interest income 7,966 7,213 15,380 14,040
Interest expense        
Deposits 863 647 1,611 1,192
Repurchase Agreements & Other 6 4 10 9
Federal Home Loan Bank advances 63 77 149 183
Trust preferred securities 71 62 141 121
Total interest expense 1,003 790 1,911 1,505
Net interest income 6,963 6,423 13,469 12,535
Provision for loan losses 200 200 250
Net interest income after provision for loan losses 6,763 6,423 13,269 12,285
Noninterest income        
Wealth Management Fees 704 643 1,371 1,276
Customer service fees 667 680 1,307 1,360
Gain on sale of mtg. loans & OMSR's 2,063 2,284 3,313 3,667
Mortgage loan servicing fees, net 241 (273) 624 (719)
Gain on sale of non-mortgage loans 369 151 799 600
Data service fees 184 233 377 510
Net gain on sale of securities 92 203
Gain/(loss) on sale/disposal of assets 186 2 208
Other income 234 311 471 641
Total non-interest income 4,462 4,307 8,264 7,746
Noninterest expense        
Salaries and employee benefits 4,667 4,314 9,053 8,093
Net occupancy expense 552 524 1,112 1,089
Equipment expense 683 639 1,324 1,234
Data processing fees 396 339 766 644
Professional fees 417 326 780 642
Marketing expense 206 199 401 370
Telephone and communication 113 102 229 201
Postage and delivery expense 59 162 233 359
State, local and other taxes 170 171 337 270
Employee expense 183 128 328 246
Other expenses 360 503 625 1,154
Total non-interest expense 7,806 7,407 15,188 14,302
Income before income tax expense 3,419 3,323 6,345 5,729
Income tax expense 1,102 1,058 2,035 1,809
Net income 2,317 2,265 4,310 3,920
Preferred Stock Dividends 244 244 488 488
Net income available to common shareholders $ 2,073 $ 2,021 $ 3,822 $ 3,432
Common share data:        
Basic earnings per common share $ 0.43 $ 0.41 $ 0.79 $ 0.70
Diluted earnings per common share $ 0.37 $ 0.35 $ 0.68 $ 0.61
Average common shares outstanding (in thousands):        
Basic: 4,827 4,893 4,839 4,894
Diluted: 6,351 6,390 6,366 6,396