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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Interest and dividend income    
Interest and fees on loans $ 7,925 $ 7,922
Interest on debt securities    
Taxable 293 326
Tax exempt 286 390
Other interest and dividends 74 33
Total interest and dividend income 8,578 8,671
Interest expense    
Deposits 508 444
Repurchase agreements 1 1
Capital lease 18 $ 18
Note payable 5
Subordinated debt 156
Federal Home Loan Bank of Boston advances 231 $ 282
Total interest expense 919 745
Net interest and dividend income 7,659 7,926
Provision (benefit) for loan losses 463 (200)
Net interest and dividend income after provision (benefit) for loan losses 7,196 8,126
Non-interest income    
Trust and wealth advisory 784 822
Service charges and fees 730 731
Gains on sales of mortgage loans, net 39 94
Mortgage servicing, net 12 (40)
Gains on sales and calls of available-for-sale securities, net 2 175
Other 117 114
Total non-interest income 1,684 1,896
Non-interest expense    
Salaries 2,574 2,540
Employee benefits 1,088 1,005
Premises and equipment 895 908
Data processing 447 474
Professional fees 380 650
Collections and OREO 157 244
FDIC insurance 134 198
Marketing and community support 200 110
Amortization of core deposit intangibles 155 169
Other 810 537
Total non-interest expense 6,840 6,835
Income before income taxes 2,040 3,187
Income tax provision 528 953
Net income 1,512 2,234
Net income available to common shareholders $ 1,512 $ 2,194
Basic earnings per common share $ 0.55 $ 0.81
Weighted average common shares outstanding, to calculate basic earnings per share 2,723 2,699
Diluted earnings per common share $ 0.55 $ 0.80
Weighted average common shares outstanding, to calculate diluted earnings per share 2,741 2,716
Common dividends per share $ 0.28 $ 0.28