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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Loans        
Taxable $ 9,499 $ 7,653 $ 26,607 $ 21,696
Tax exempt 42 21 99 62
Securities        
Taxable 610 532 1,795 1,562
Tax exempt 107 132 339 398
Total interest income 10,258 8,338 28,840 23,718
Interest expense        
Deposits 1,472 907 3,538 2,518
Repurchase agreements & other 11 4 27 10
Federal Home Loan Bank advances 140 86 329 235
Trust preferred securities 106 78 293 223
Total interest expense 1,729 1,075 4,187 2,986
Net interest income 8,529 7,263 24,653 20,732
Provision for loan losses 600 200
Net interest income after provision for loan losses 8,529 7,263 24,053 20,532
Noninterest income        
Wealth management fees 705 688 2,155 2,059
Customer service fees 672 674 1,991 1,981
Gain on sale of mortgage loans & OMSR's 2,066 2,211 5,224 5,524
Mortgage loan servicing fees, net 273 227 991 851
Gain on sale of non-mortgage loans 125 294 935 1,093
Data service fees 182 559
Net gain on sale of securities 70 119 70 119
Gain/(loss) on sale/disposal of assets 8 21 10
Other income 291 458 1,308 929
Total noninterest income 4,202 4,861 12,695 13,125
Noninterest expense        
Salaries and employee benefits 5,372 4,844 15,513 13,897
Net occupancy expense 588 566 1,797 1,678
Equipment expense 667 688 2,133 2,012
Data processing fees 489 429 1,345 1,195
Professional fees 393 502 1,316 1,282
Marketing expense 197 180 622 581
Telephone and communications 124 120 374 349
Postage and delivery expense 83 103 221 336
State, local and other taxes 177 198 538 535
Employee expense 243 242 629 570
Other expenses 456 412 1,507 1,037
Total noninterest expense 8,789 8,284 25,995 23,472
Income before income tax expense 3,942 3,840 10,753 10,185
Income tax expense 824 1,117 2,074 3,152
Net income 3,118 2,723 8,679 7,033
Preferred Stock Dividends 244 244 732 731
Net income available to common shareholders $ 2,874 $ 2,479 $ 7,947 $ 6,302
Common share data:        
Basic earnings per common share $ 0.45 $ 0.52 $ 1.3 $ 1.31
Diluted earnings per common share $ 0.39 $ 0.43 $ 1.14 $ 1.11
Average common shares outstanding (in thousands):        
Basic: 6,503 4,797 6,106 4,825
Diluted: 8,022 6,326 7,626 6,356