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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Loans        
Taxable $ 8,968 $ 7,243 $ 17,108 $ 14,043
Tax exempt 36 21 57 41
Securities        
Taxable 613 569 1,186 1,030
Tax exempt 115 133 232 266
Total interest income 9,732 7,966 18,583 15,380
Interest expense        
Deposits 1,091 863 2,066 1,611
Repurchase agreements & other 6 6 16 10
Federal Home Loan Bank advances 110 63 189 149
Trust preferred securities 101 71 188 141
Total interest expense 1,308 1,003 2,459 1,911
Net interest income 8,424 6,963 16,124 13,469
Provision for loan losses 300 200 600 200
Net interest income after provision for loan losses 8,124 6,763 15,524 13,269
Noninterest income        
Wealth management fees 710 704 1,449 1,371
Customer service fees 675 667 1,319 1,307
Gain on sale of mortgage loans & OMSR's 2,058 2,063 3,158 3,313
Mortgage loan servicing fees, net 247 241 718 624
Gain on sale of non-mortgage loans 150 369 810 799
Data service fees 184 377
Gain/(loss) on sale/disposal of assets 60 21 2
Other income 349 234 1,017 471
Total noninterest income 4,249 4,462 8,492 8,264
Noninterest expense        
Salaries and employee benefits 5,201 4,667 10,140 9,053
Net occupancy expense 560 552 1,209 1,112
Equipment expense 637 683 1,466 1,324
Data processing fees 418 396 856 766
Professional fees 504 417 923 780
Marketing expense 204 206 425 401
Telephone and communications 128 113 250 229
Postage and delivery expense 63 59 137 233
State, local and other taxes 176 170 362 337
Employee expense 220 183 386 328
Other expenses 468 360 1,052 625
Total noninterest expense 8,579 7,806 17,206 15,188
Income before income tax expense 3,794 3,419 6,810 6,345
Income tax expense 687 1,102 1,250 2,035
Net income 3,107 2,317 5,560 4,310
Preferred Stock Dividends 244 244 488 488
Net income available to common shareholders $ 2,863 $ 2,073 $ 5,072 $ 3,822
Common share data:        
Basic earnings per common share $ 0.45 $ 0.43 $ 0.85 $ 0.79
Diluted earnings per common share $ 0.40 $ 0.37 $ 0.75 $ 0.68
Average common shares outstanding (in thousands):        
Basic: 6,489 4,827 5,935 4,839
Diluted: 8,003 6,351 7,454 6,366