SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Selected quarterly consolidated financial data (unaudited)

Year ended December 31, 2018   (in thousands, except ratios and per share amounts)		Q1 2018			Q2 2018			Q3 2018			Q4 2018
Statement of Income
Interest and dividend income	$	9,300		$	9,749		$	10,516		$	10,807
Interest expense		1,306			1,706			2,016			2,192
Net interest and dividend income		7,993			8,043			8,500			8,615
Provision (benefit) for loan losses		325			467			378			558
Trust and Wealth Advisory		894			949			936			921
Service charges and fees		868			892			932			1,025
Gains (Losses) on sales of mortgage loans, net		18			(1	)		21			51
Mortgage servicing, net		83			84			84			57
(Losses) Gains on CRA mutual fund		(13	)		(7	)		(6	)		8
(Losses) Gains on sales of available -for-sale- securities, net		(2	)		17			—			302
BOLI income and gains		82			82			83			432
Other		45			42			38			28
Non-interest income		1,975			2,058			2,088			2,824
Non-interest expense		7,180			7,417			7,329			7,909
Income before income taxes		2,463			2,217			2,881			2,972
Income tax provision		446			318			537			408
Net income		2,017			1,899			2,344			2,564
Net income allocated to common stock		1,997			1,877			2,311			2,528
Financial Condition
Total assets		1,014,934			1,096,780			1,098,715			1,121,554
Loans, net		830,370			872,796			898,625			909,279
Allowance for loan losses		7,058			7,381			7,745			7,831
Securities		84,878			90,870			101,591			97,150
Deposits		831,837			897,481			902,161			926,739
Repurchase agreements		3,962			1,691			6,658			4,104
FHLBB advances		62,480			79,538			67,596			67,154
Shareholders' equity		98,097			99,180			100,767			103,459
Non-performing assets		5,761			6,359			8,513			8,324
Per Common Share Data
Earnings, basic	$	0.72		$	0.68		$	0.84		$	0.91
Earnings, diluted		0.71			0.68			0.83			0.91
Cash dividends declared		0.28			0.28			0.28			0.28
Cash dividends paid		0.28			0.28			0.28			0.28
Book value		35.20			35.38			35.93			36.86
Market price: (a)
High		49.85			46.70			48.44			43.04
Low		44.00			38.15			40.36			35.25
Statistical Data
Net interest margin (fully tax equivalent)		3.46	%		3.31	%		3.29	%		3.34	%
Efficiency ratio (fully tax equivalent)		69.35			70.87			66.91			69.13
Return on average assets		0.81			0.69			0.85			0.92
Return on average shareholders' equity		8.33			7.68			9.26			9.99
Weighted average common shares outstanding, basic		2,759			2,761			2,764			2,766
Weighted average common shares outstanding, diluted		2,780			2,779			2,779			2,779

(a) The above market prices reflect inter-dealer prices, without retail markup, markdown or commissions, and may not necessarily represent actual transactions.

Year ended December 31, 2017   (in thousands, except ratios and per share amounts)		Q1 2017			Q2 2017			Q3 2017			Q4 2017
Statement of Income
Interest and dividend income	$	8,785		$	8,687		$	8,882		$	9,167
Interest expense		953			1,026			1,116			1,143
Net interest and dividend income		7,832			7,661			7,766			8,024
Provision (benefit) for loan losses		352			364			237			67
(Losses) gains on securities, net		—			(14	)		—			192
Trust and Wealth Advisory		854			892			874			857
Service charges and fees		962			902			935			919
Gains on sales of mortgage loans, net		49			30			25			21
Mortgage servicing, net		45			31			104			75
Other		113			110			142			118
Non-interest income		2,023			1,951			2,080			2,182
Non-interest expense		7,306			6,751			7,220			8,052
Income before income taxes		2,197			2,497			2,389			2,087
Income tax provision		593			615			695			1,011
Net income		1,604			1,882			1,694			1,076
Net income allocated to common stock		1,594			1,866			1,677			1,064
Financial Condition
Total assets		939,549			974,806			979,469			986,984
Loans, net		764,665			771,850			784,136			801,703
Allowance for loan losses		6,285			6,493			6,494			6,776
Securities		80,359			84,468			88,546			82,860
Deposits		772,416			811,341			831,989			815,495
Repurchase agreements		2,350			2,126			4,529			1,668
FHLBB advances		52,745			47,302			27,364			54,422
Shareholders' equity		95,221			96,545			97,526			97,514
Non-performing assets		10,890			11,690			12,257			7,354
Per Common Share Data
Earnings, basic	$	0.58		$	0.68		$	0.61		$	0.39
Earnings, diluted		0.58			0.67			0.60			0.38
Cash dividends declared		0.28			0.28			0.28			0.28
Cash dividends paid		0.28			0.28			0.28			0.28
Book value		34.38			34.66			35.01			35.01
Market price: (a)
High		40.00			41.50			46.90			48.35
Low		37.30			38.50			40.40			44.00
Statistical Data
Net interest margin (fully tax equivalent)		3.69	%		3.58	%		3.50	%		3.58	%
Efficiency ratio (fully tax equivalent)		68.68			66.56			67.18			64.90
Return on average assets		0.70			0.77			0.69			0.43
Return on average shareholders' equity		6.83			7.82			6.89			4.38
Weighted average common shares outstanding, basic		2,749			2,757			2,757			2,757
Weighted average common shares outstanding, diluted		2,768			2,775			2,777			2,778

(a) The above market prices reflect inter-dealer prices, without retail markup, markdown or commissions, and may not necessarily represent actual transactions.