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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
INTEREST INCOME        
Loans, including fees $ 7,423 $ 6,346 $ 14,802 $ 12,555
Securities        
Taxable 866 692 1,773 1,425
Tax exempt 661 690 1,318 1,366
Trading assets 31 39 73 83
Other 105 68 218 137
Total interest income 9,086 7,835 18,184 15,566
INTEREST EXPENSE:        
Deposits 555 493 1,112 979
Repurchase agreements 27 24 53 47
Federal Home Loan Bank advances 393 397 777 799
Note payable 59   120  
Subordinated debentures 67 58 128 115
Total interest expense 1,101 972 2,190 1,940
Net interest income 7,985 6,863 15,994 13,626
Provision for loan losses 225 350 600 650
Net interest income after provision 7,760 6,513 15,394 12,976
NON-INTEREST INCOME:        
Service charges 1,264 1,091 2,381 1,995
Loan service fee income, net (2) 55 49 108
Trust department income 261 259 524 536
Gain on sale of available for sale securities, net 151 243 277 251
Gain (loss) on trading assets 60 (48) 100 (53)
Gain on sale of mortgage loans 457 441 756 768
Brokerage income 250 136 434 242
Debit card interchange income 710 623 1,354 1,164
Other 135 822 158 881
Total other income 3,286 3,622 6,033 5,892
NON-INTEREST EXPENSE:        
Salaries and employee benefits 4,562 4,150 8,932 7,944
Occupancy expenses 939 854 1,857 1,786
Repossession expenses, net 31 237 143 282
FDIC Insurance 164 145 338 301
Legal and professional fees 513 293 891 578
Data processing 427 386 853 753
Debit card expenses 368 293 687 549
Amortization expense of intangible assets, excluding mortgage servicing right 77 30 156 61
Advertising and marketing 225 212 450 425
Taxes other than payroll, property and income 279 229 554 459
Telephone 94 77 185 145
Postage 101 90 190 171
Loan fees 46 104 91 197
Other 782 608 1,609 1,274
Total other expenses 8,608 7,708 16,936 14,925
Income before taxes 2,438 2,427 4,491 3,943
Income taxes 356 305 572 306
Net income 2,082 2,122 3,919 3,637
Other Comprehensive Income, net of tax:        
Change in Unrealized Gains on Securities 1,656 (2,160) 4,043 (1,223)
Comprehensive income (Loss) $ 3,738 $ (38) $ 7,962 $ 2,414
Earnings per share        
Basic (in dollars per share) $ 0.70 $ 0.77 $ 1.31 $ 1.33
Diluted (in dollars per share) 0.70 0.77 1.31 1.33
Dividends per share (in dollars per share) $ 0.27 $ 0.26 $ 0.54 $ 0.52