XML 19 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Interest and fees on loans:      
Taxable $ 39,122 $ 37,786 $ 37,923
Tax exempt 95 75 72
Interest bearing deposits 11 13 8
Short-term investments in money market funds 130 84 14
Investment securities:      
Available for sale 3,800 3,132 3,250
Held to maturity 1,198 779 614
Total Interest Income 44,356 41,869 41,881
INTEREST EXPENSE      
Deposits 6,255 5,400 4,752
Short-term borrowings 206 52 86
Advances from Federal Home Loan Bank 694 644 558
Guaranteed junior subordinated deferrable interest debentures 1,120 1,120 1,120
Subordinated debt 520 519 4
Total Interest Expense 8,795 7,735 6,520
Net Interest Income 35,561 34,134 35,361
Provision for loan losses 800 3,950 1,250
Net Interest Income after Provision for Loan Losses 34,761 30,184 34,111
NON-INTEREST INCOME      
Trust and investment advisory fees 8,462 8,333 8,344
Service charges on deposit accounts 1,581 1,674 1,750
Net gains on loans held for sale 679 884 767
Mortgage related fees 285 367 391
Net realized gains on investment securities 115 177 71
Bank owned life insurance 737 675 1,617
Other income 2,786 2,528 2,327
Total Non-Interest Income 14,645 14,638 15,267
NON-INTEREST EXPENSE      
Salaries and employee benefits 24,127 24,034 24,042
Net occupancy expense 2,600 2,782 2,941
Equipment expense 1,585 1,688 1,773
Professional fees 5,058 5,280 5,003
Supplies, postage, and freight 676 705 726
Miscellaneous taxes and insurance 1,234 1,146 1,157
Federal deposit insurance expense 628 709 669
Other expense 4,858 5,271 4,727
Total Non-Interest Expense 40,766 41,615 41,038
PRETAX INCOME 8,640 3,207 8,340
Provision for income taxes 5,347 897 2,343
NET INCOME 3,293 2,310 5,997
Preferred stock dividends 0 15 210
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 3,293 $ 2,295 $ 5,787
Basic:      
Net income $ 0.18 $ 0.12 $ 0.31
Average number of shares outstanding 18,498 18,896 18,863
Diluted:      
Net income $ 0.18 $ 0.12 $ 0.31
Average number of shares outstanding 18,600 18,955 18,933
Cash dividends declared $ 0.06 $ 0.05 $ 0.04