XML 14 R3.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Loans        
Taxable $ 7,653 $ 6,954 $ 21,696 $ 19,862
Nontaxable 21 22 62 55
Securities        
Taxable 532 378 1,562 1,172
Nontaxable 132 145 398 450
Total interest income 8,338 7,499 23,718 21,539
Interest expense        
Deposits 907 677 2,518 1,869
Repurchase Agreements & Other 4 5 10 14
Federal Home Loan Bank advances 86 83 235 266
Trust preferred securities 78 63 223 184
Total interest expense 1,075 828 2,986 2,333
Net interest income 7,263 6,671 20,732 19,206
Provision for loan losses 200 250
Net interest income after provision for loan losses 7,263 6,671 20,532 18,956
Noninterest income        
Wealth Management Fees 688 695 2,059 1,971
Customer service fees 674 692 1,981 2,052
Gain on sale of mtg. loans & OMSR's 2,211 2,503 5,524 6,170
Mortgage loan servicing fees, net 227 205 851 (514)
Gain on sale of non-mortgage loans 294 327 1,093 927
Data service fees 182 223 559 733
Net gain on sale of securities 119 59 119 262
Gain/(loss) on sale/disposal of assets 8 (31) 10 177
Other income 458 342 929 983
Total non-interest income 4,861 5,015 13,125 12,761
Noninterest expense        
Salaries and employee benefits 4,844 4,672 13,897 12,765
Net occupancy expense 566 523 1,678 1,612
Equipment expense 688 649 2,012 1,883
Data processing fees 429 352 1,195 996
Professional fees 502 380 1,282 1,022
Marketing expense 180 123 581 493
Telephone and communication 120 101 349 302
Postage and delivery expense 103 154 336 513
State, local and other taxes 198 170 535 440
Employee expense 242 117 570 363
Other expenses 412 689 1,037 1,843
Total non-interest expense 8,284 7,930 23,472 22,232
Income before income tax expense 3,840 3,756 10,185 9,485
Income tax expense 1,117 1,209 3,152 3,018
Net income 2,723 2,547 7,033 6,467
Preferred Stock Dividends 244 244 731 731
Net income available to common shareholders $ 2,479 $ 2,303 $ 6,302 $ 5,736
Common share data:        
Basic earnings per common share $ 0.52 $ 0.47 $ 1.31 $ 1.17
Diluted earnings per common share $ 0.43 $ 0.40 $ 1.11 $ 1.01
Average common shares outstanding (in thousands):        
Basic: 4,797 4,874 4,825 4,888
Diluted: 6,326 6,376 6,356 6,384