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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
INTEREST INCOME:        
Loans, including fees $ 6,346 $ 5,896 $ 12,555 $ 11,657
Securities        
Taxable 692 680 1,425 1,355
Tax exempt 690 718 1,366 1,451
Trading Assets 39 43 83 80
Other 68 69 137 145
Total interest income 7,835 7,406 15,566 14,688
INTEREST EXPENSE:        
Deposits 493 535 979 1,074
Repurchase agreements and other borrowings 24 25 47 48
Federal Home Loan Bank advances 397 309 799 623
Subordinated debentures 58 58 115 115
Total interest expense 972 927 1,940 1,860
Net interest income 6,863 6,479 13,626 12,828
Provision for loan losses 350 100 650 200
Net interest income after provision 6,513 6,379 12,976 12,628
NON-INTEREST INCOME:        
Service charges 1,091 1,062 1,995 2,073
Loan service fee income, net 55 5 108 34
Trust department income 259 239 536 461
Gain on sale of available for sale securities, net 243 245 251 433
Gain (loss) on trading assets (48) 91 (53) 162
Gain on sale of mortgage loans 441 241 768 398
Brokerage income 136 210 242 290
Debit card interchange income 623 530 1,164 1,009
Other 822 45 881 77
Total other income 3,622 2,668 5,892 4,937
NON-INTEREST EXPENSE:        
Salaries and employee benefits 4,150 3,661 7,944 7,263
Occupancy expenses 854 830 1,786 1,678
Repossession expenses, net 237 25 282 23
FDIC Insurance 145 140 301 268
Legal and professional fees 293 322 578 458
Data processing 386 331 753 668
Debit card expenses 293 262 549 496
Amortization 30 37 61 74
Advertising and marketing 212 232 425 441
Taxes other than payroll, property and income 229 197 459 422
Telephone 77 87 145 176
Postage 90 85 171 157
Loan fees 104 83 197 160
Other 608 483 1,274 945
Total other expenses 7,708 6,775 14,925 13,229
Income before taxes 2,427 2,272 3,943 4,336
Income taxes 305 368 306 661
Net income 2,122 1,904 3,637 3,675
Other Comprehensive Income (Loss), net of tax:        
Change in Unrealized Gains on Securities (2,160) 1,730 (1,223) 4,981
Comprehensive Income (Loss) $ (38) $ 3,634 $ 2,414 $ 8,656
Earnings per share        
Basic (in dollars per share) $ 0.77 $ 0.70 $ 1.33 $ 1.36
Diluted (in dollars per share) 0.77 0.70 1.33 1.36
Dividends per share (in dollars per share) $ 0.26 $ 0.25 $ 0.52 $ 0.50