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CONSOLIDATED STATEMENTS OF INCOME - Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Interest and dividend income      
Interest and fees on loans $ 31,752 $ 19,616 $ 17,978
Interest on debt securities      
Taxable 1,179 1,406 1,757
Tax exempt 1,431 1,704 1,948
Other interest and dividends 209 129 67
Total interest and dividend income 34,571 22,855 21,750
Interest expense      
Deposits 1,844 1,465 1,813
Repurchase agreements 7 8 6
Federal Home Loan Bank of Boston advances 1,064 1,184 $ 1,243
Capital lease 70 $ 47
Note payable 6
Subordinated debt 35
Total interest expense 3,026 $ 2,704 $ 3,062
Net interest and dividend income 31,545 20,151 18,688
Provision for loan losses 917 1,134 1,066
Net interest and dividend income after provision for loan losses 30,628 $ 19,017 $ 17,622
Non-interest income      
Gains on securities, net 192
Trust and wealth advisory 3,265 $ 3,295 $ 3,074
Service charges and fees 3,070 2,473 2,298
Gains on sales of mortgage loans, net 274 64 579
Mortgage servicing, net 1 94 35
Other 510 326 319
Total non-interest income 7,312 6,252 6,305
Non-interest expense      
Salaries 10,301 8,029 7,467
Employee benefits 3,729 3,136 2,804
Premises and equipment 3,541 2,831 2,398
Data processing 1,677 1,502 1,514
Professional fees 2,150 1,331 1,212
Collections, OREO, and appraisals 505 458 519
FDIC insurance 658 461 470
Marketing and community support 593 396 393
Amortization of intangibles $ 652 291 222
Merger and acquisition related expenses 1,974 312
Other $ 2,114 1,729 1,624
Total non-interest expense 25,920 22,138 18,935
Income before income taxes 12,020 3,131 4,992
Income tax provision 3,563 610 909
Net income 8,457 2,521 4,083
Net income available to common shareholders $ 8,299 $ 2,355 $ 3,922
Basic earnings per common share $ 3.04 $ 1.32 $ 2.30
Diluted earnings per common share 3.02 1.32 2.30
Common dividends per share $ 1.12 $ 1.12 $ 1.12