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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Interest and dividend income      
Interest and fees on loans $ 33,090 $ 32,050 $ 31,791
Interest on debt securities      
Taxable 1,566 1,183 1,179
Tax exempt 380 927 1,431
Other interest and dividends 485 294 209
Total interest and dividend income 35,521 34,454 34,610
Interest expense      
Deposits 2,483 2,181 1,844
Repurchase agreements 5 6 7
Capital lease 96 70 70
Note payable 18 21 6
Subordinated debt 624 624 35
Federal Home Loan Bank of Boston advances 1,012 947 1,064
Total interest expense 4,238 3,849 3,026
Net interest and dividend income 31,283 30,605 31,584
Provision for loan losses 1,020 1,835 917
Net interest and dividend income after provision for loan losses 30,263 28,770 30,667
Non-interest income      
Trust and wealth advisory 3,477 3,338 3,265
Service charges and fees 3,718 3,133 2,986
Gains on sales of mortgage loans, net 125 229 274
Mortgage servicing, net 255 156 47
Gains on securities, net 178 584 192
Other 483 451 510
Total non-interest income 8,236 7,891 7,274
Non-interest expense      
Salaries 11,135 10,926 10,301
Employee benefits 3,767 3,891 3,729
Premises and equipment 3,831 3,375 3,541
Data processing 2,057 2,106 1,677
Professional fees 2,499 1,933 2,150
Collections, OREO and appraisals 2,179 999 567
FDIC insurance 497 606 658
Marketing and community support 793 686 593
Amortization of intangibles 533 601 652
Other 2,038 2,264 2,053
Total non-interest expense 29,329 27,387 25,921
Income before income taxes 9,170 9,274 12,020
Income tax provision 2,914 2,589 3,563
Net income 6,256 6,685 8,457
Net income allocated to common stock $ 6,201 $ 6,633 $ 8,227
Basic earnings per common share $ 2.25 $ 2.43 $ 3.04
Weighted average common shares outstanding, to calculate basic earnings per share 2,755 2,733 2,706
Diluted earnings per common share $ 2.24 $ 2.41 $ 3.02
Weighted average common shares outstanding, to calculate diluted earnings per share 2,774 2,749 2,723
Common dividends per share $ 1.12 $ 1.12 $ 1.12