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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Interest and dividend income    
Interest and fees on loans $ 8,649 $ 8,221
Interest on debt securities    
Taxable 460 317
Tax exempt 32 164
Other interest and dividends 159 83
Total interest and dividend income 9,300 8,785
Interest expense    
Deposits 777 515
Repurchase agreements 1 1
Capital lease 35 17
Note payable 5 2
Subordinated debt 156 156
Federal Home Loan Bank of Boston advances 332 262
Total interest expense 1,306 953
Net interest and dividend income 7,994 7,832
Provision for loan losses 326 352
Net interest and dividend income after provision for loan losses 7,668 7,480
Non-interest income    
Trust and wealth advisory 894 854
Service charges and fees 868 962
Gains on sales of mortgage loans, net 18 49
Mortgage servicing, net 83 45
Losses on CRA mutual fund (13)
Losses on available-for-sale securities, net (2)
Other 126 113
Total non-interest income 1,974 2,023
Non-interest expense    
Salaries 2,846 2,769
Employee benefits 1,159 1,088
Premises and equipment 1,024 895
Data processing 486 472
Professional fees 619 717
OREA gains, losses and write-downs 52 144
Collections and other real estate owned 82 157
FDIC insurance 130 149
Marketing and community support 242 251
Amortization of core deposit intangibles 121 126
Other 422 538
Total non-interest expense 7,182 7,306
Income before income taxes 2,460 2,197
Income tax provision 445 593
Net income 2,015 1,604
Net income available to common stock $ 1,995 $ 1,594
Basic earnings per common share $ 0.72 $ 0.58
Weighted average common shares outstanding, to calculate basic earnings per share 2,759 2,749
Diluted earnings per common share $ 0.72 $ 0.58
Weighted average common shares outstanding, to calculate diluted earnings per share 2,780 2,768
Common dividends per share $ 0.28 $ 0.28