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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
INTEREST INCOME:        
Interest and fees on loans $ 8,144 $ 6,816 $ 15,840 $ 13,396
Interest on investment securities:        
Taxable 1,026 860 1,917 1,694
Non-taxable 657 655 1,303 1,278
Other investments 99 74 144 113
TOTAL INTEREST INCOME 9,926 8,405 19,204 16,481
INTEREST EXPENSE:        
Interest on deposits 814 931 1,623 1,914
Interest on short-term borrowings 5 4 8 7
Interest on long-term debt 101 110 204 222
TOTAL INTEREST EXPENSE 920 1,045 1,835 2,143
NET INTEREST INCOME 9,006 7,360 17,369 14,338
PROVISION FOR LOAN LOSSES 255 42 336 191
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 8,751 7,318 17,033 14,147
NON-INTEREST INCOME:        
Trust income 728 609 1,383 1,184
Service charges and fees on deposit accounts 1,252 1,073 2,374 2,052
Net gain (loss) on sales of securities 0 108 (4) 695
Bank owned life insurance income 170 172 342 344
Gains from sales of mortgage loans 53 119 68 248
Other operating income 98 97 215 162
TOTAL NON-INTEREST INCOME 2,301 2,178 4,378 4,685
NON-INTEREST EXPENSE:        
Salaries and employee benefits 3,956 3,242 7,874 6,536
Equipment expenses 345 298 639 590
Occupancy expense, net 514 518 1,165 1,024
State franchise tax 239 211 483 427
Marketing 197 157 329 301
FDIC insurance premiums 160 119 309 247
Merger-related expenses 70 271 1,362 1,326
Other non-interest expense 2,119 1,508 4,111 2,964
TOTAL NON-INTEREST EXPENSE 7,600 6,324 16,272 13,415
INCOME BEFORE INCOME TAXES 3,452 3,172 5,139 5,417
PROVISION FOR INCOME TAXES 841 824 1,205 1,341
NET INCOME $ 2,611 $ 2,348 $ 3,934 $ 4,076
Dividends declared per common share (in dollars per share) $ 0.16 $ 0.16 $ 0.32 $ 0.32
Earnings per common share:        
Basic (in dollars per share) $ 0.28 $ 0.31 $ 0.42 $ 0.54
Diluted (in dollars per share) $ 0.28 $ 0.30 $ 0.42 $ 0.53
Weighted average common shares outstanding:        
Basic (in shares) 9,293,382 7,627,900 9,290,905 7,570,817
Diluted (in shares) 9,402,343 7,759,438 9,407,964 7,686,890