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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
INTEREST INCOME:        
Interest and fees on loans $ 8,876 $ 8,540 $ 26,395 $ 26,572
Interest on investment securities:        
Taxable 1,152 1,094 3,528 2,983
Non-taxable 813 732 2,365 2,087
Other investments 54 43 236 205
TOTAL INTEREST INCOME 10,895 10,409 32,524 31,847
INTEREST EXPENSE:        
Interest on deposits 872 834 2,565 2,187
Interest on short-term borrowings 8 5 30 13
Interest on long-term debt 5 73 22 222
TOTAL INTEREST EXPENSE 885 912 2,617 2,422
NET INTEREST INCOME 10,010 9,497 29,907 29,425
PROVISION FOR LOAN LOSSES 372 240 858 986
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 9,638 9,257 29,049 28,439
NON-INTEREST INCOME:        
Trust income 871 754 2,471 2,406
Service charges and fees on deposit accounts 1,276 1,314 3,712 3,655
Net gain on sales of securities 307 0 957 332
Bank owned life insurance income 193 156 553 470
Gains from sales of loans 73 34 175 288
Other operating income 126 128 370 372
TOTAL NON-INTEREST INCOME 2,846 2,386 8,238 7,523
NON-INTEREST EXPENSE:        
Salaries and employee benefits 4,642 4,340 13,737 13,011
Equipment expenses 279 324 767 914
Occupancy expense, net 550 570 1,707 1,749
State franchise tax 279 251 836 753
Marketing 162 176 530 559
Amortization of intangibles 189 189 564 510
FDIC insurance premiums 168 136 495 432
Other real estate owned 222 188 607 243
Merger-related expenses 0 49 0 641
Other non-interest expense 2,102 1,865 6,110 5,351
TOTAL NON-INTEREST EXPENSE 8,593 8,088 25,353 24,163
INCOME BEFORE INCOME TAXES 3,891 3,555 11,934 11,799
PROVISION FOR INCOME TAXES 995 922 3,106 3,209
NET INCOME $ 2,896 $ 2,633 $ 8,828 $ 8,590
Dividends declared per common share (usd per share) $ 0.16 $ 0.16 $ 0.48 $ 0.48
Earnings per common share:        
Basic (usd per share) 0.29 0.26 0.89 0.89
Diluted (usd per share) $ 0.29 $ 0.26 $ 0.88 $ 0.88
Weighted average common shares outstanding:        
Basic (in shares) 9,962,571 9,898,233 9,930,182 9,637,344
Diluted (in shares) 9,977,592 10,005,788 9,974,319 9,742,839