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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
INTEREST INCOME:        
Interest and fees on loans $ 9,095 $ 8,876 $ 26,833 $ 26,395
Interest on investment securities:        
Taxable 1,108 1,152 3,350 3,528
Non-taxable 783 813 2,377 2,365
Other investments 69 54 293 236
TOTAL INTEREST INCOME 11,055 10,895 32,853 32,524
INTEREST EXPENSE:        
Interest on deposits 850 872 2,539 2,565
Interest on short-term borrowings 55 8 97 30
Interest on long-term debt 3 5 10 22
TOTAL INTEREST EXPENSE 908 885 2,646 2,617
NET INTEREST INCOME 10,147 10,010 30,207 29,907
PROVISION FOR LOAN LOSSES (12) 372 225 858
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 10,159 9,638 29,982 29,049
NON-INTEREST INCOME:        
Trust income 871 871 2,604 2,471
Service charges and fees on deposit accounts 1,352 1,276 3,886 3,712
Net gain on sales of securities 78 307 218 957
Bank owned life insurance income 190 193 676 553
Gains from sales of loans 34 73 136 175
Other operating income 134 126 359 370
TOTAL NON-INTEREST INCOME 2,659 2,846 7,879 8,238
NON-INTEREST EXPENSE:        
Salaries and employee benefits 4,678 4,642 13,907 13,737
Equipment expenses 361 279 836 767
Occupancy expense, net 685 550 1,889 1,707
State franchise tax 281 279 851 836
Marketing 282 162 641 530
Amortization of intangibles 189 189 562 564
FDIC insurance premiums 108 168 320 495
Contracted services 307 300 930 750
Other real estate owned 3 222 8 607
Other non-interest expense 1,778 1,802 5,307 5,360
TOTAL NON-INTEREST EXPENSE 8,672 8,593 25,251 25,353
INCOME BEFORE INCOME TAXES 4,146 3,891 12,610 11,934
PROVISION FOR INCOME TAXES 1,040 995 3,255 3,106
NET INCOME $ 3,106 $ 2,896 $ 9,355 $ 8,828
Dividends declared per common share (usd per share) $ 0.16 $ 0.16 $ 0.48 $ 0.48
Earnings per common share:        
Basic (usd per share) 0.31 0.29 0.93 0.89
Diluted (usd per share) $ 0.31 $ 0.29 $ 0.93 $ 0.88
Weighted average common shares outstanding:        
Basic (in shares) 10,008,807 9,962,571 10,002,812 9,930,182
Diluted (in shares) 10,015,204 9,972,623 10,009,942 9,967,635