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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Interest and dividend income        
Interest and fees on loans $ 4,516 $ 4,500 $ 13,415 $ 13,678
Interest on debt securities        
Taxable 418 579 1,359 1,939
Tax exempt 475 495 1,441 1,539
Other interest and dividends 22 33 58 75
Total interest and dividend income 5,431 5,607 16,273 17,231
Interest expense        
Deposits 459 580 1,437 1,870
Repurchase agreements 2 3 4 21
Federal Home Loan Bank of Boston advances 311 452 935 1,398
Total interest expense 772 1,035 2,376 3,289
Net interest and dividend income 4,659 4,572 13,897 13,942
Provision for loan losses 240 330 876 690
Net interest and dividend income after provision for loan losses 4,419 4,242 13,021 13,252
Non-interest income        
Trust and wealth advisory 750 683 2,299 2,173
Service charges and fees 595 559 1,687 1,628
Gains on sales of mortgage loans, net 69 568 501 1,203
Mortgage servicing, net (37) (9) (3) (98)
Gains on securities, net          279
Other 82 86 251 252
Total non-interest income 1,459 1,887 4,735 5,437
Non-interest expense        
Salaries 1,922 1,810 5,508 5,268
Employee benefits 693 597 2,140 2,244
Premises and equipment 622 603 1,789 1,799
Data processing 358 369 1,145 1,190
Professional fees 306 299 996 915
Collections and OREO 74 301 305 767
FDIC insurance 111 116 350 363
Marketing and community support 99 92 326 267
Amortization of intangibles 56 56 167 167
Other 402 450 1,232 1,240
Total non-interest expense 4,643 4,693 13,958 14,220
Income before income taxes 1,235 1,436 3,798 4,469
Income tax provision 219 296 695 963
Net income 1,016 1,140 3,103 3,506
Net income available to common shareholders $ 976 $ 1,094 $ 2,982 $ 3,328
Basic earnings per common share $ 0.57 $ 0.65 $ 1.75 $ 1.97
Diluted earnings per common share $ 0.57 $ 0.65 $ 1.75 $ 1.97
Common dividends per share $ 0.28 $ 0.28 $ 0.84 $ 0.84