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CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
INTEREST INCOME:        
Loans, including fees $ 8,718 $ 7,779 $ 25,151 $ 22,985
Securities        
Taxable 1,435 1,156 4,486 3,353
Tax exempt 429 625 1,378 1,801
Trading assets   27   86
Other 159 132 496 454
Total interest income 10,741 9,719 31,511 28,679
INTEREST EXPENSE:        
Deposits 1,112 668 2,863 1,997
Repurchase agreements and federal funds purchased 53 38 117 89
Federal Home Loan Bank advances 500 466 1,376 1,251
Note payable 39 48 101 147
Subordinated debentures 95 75 285 232
Total interest expense 1,799 1,295 4,742 3,716
Net interest income 8,942 8,424 26,769 24,963
Provision for loan losses 150 100 400 650
Net interest income after provision 8,792 8,324 26,369 24,313
NON-INTEREST INCOME:        
Service charges 1,375 1,281 3,989 3,806
Loan service fee income, net 64 60 212 234
Trust department income 332 304 967 879
Gain (loss) on sale of available for sale securities, net 66 60 (8) 103
Gain (loss) on trading assets   (15)   36
Gain on sale of loans 472 415 1,291 1,456
Brokerage income 192 215 542 589
Debit card interchange income 815 763 2,415 2,274
Gain on bank premises (9)   (9) 1,200
Income from bank-owned life insurance 85   176  
Other 91 88 267 239
Total other income 3,483 3,171 9,842 10,816
NON-INTEREST EXPENSE:        
Salaries and employee benefits 4,776 4,592 13,986 13,545
Occupancy expenses 955 935 3,019 2,884
Repossession expenses, net 19 104 76 289
FDIC Insurance 80 86 236 274
Legal and professional fees 223 285 648 762
Data processing 456 409 1,388 1,309
Debit card expenses 453 486 1,319 1,304
Amortization expense of intangible assets, excluding mortgage servicing right 31 38 102 124
Advertising and marketing 218 212 658 636
Taxes other than payroll, property and income 312 304 937 904
Telephone 69 83 267 342
Postage 69 92 241 270
Loan fees 55 40 112 151
Other 801 669 2,402 2,276
Total other expenses 8,517 8,335 25,391 25,070
Income before income taxes 3,758 3,160 10,820 10,059
Provision for income taxes 480 568 1,326 1,920
Net income $ 3,278 $ 2,592 $ 9,494 $ 8,139
Earnings per share        
Basic (in dollars per share) $ 1.10 $ 0.87 $ 3.19 $ 2.74
Diluted (in dollars per share) 1.10 0.87 3.19 2.74
Dividends per share (in dollars per share) $ 0.31 $ 0.29 $ 0.93 $ 0.87