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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
INTEREST INCOME:        
Interest and fees on loans $ 10,703 $ 8,823 $ 20,116 $ 17,738
With a readily determinable fair value 16 16 31 31
Without a readily determinable fair value 8 5 15 11
Taxable 934 1,128 1,865 2,200
Non-taxable 680 795 1,384 1,594
Other investments 197 167 269 224
TOTAL INTEREST INCOME 12,538 10,934 23,680 21,798
INTEREST EXPENSE:        
Interest on deposits 1,096 846 1,967 1,689
Interest on short-term borrowings 7 12 76 42
Interest on long-term debt 67 3 81 7
TOTAL INTEREST EXPENSE 1,170 861 2,124 1,738
NET INTEREST INCOME 11,368 10,073 21,556 20,060
PROVISION FOR LOAN LOSSES 224 222 303 237
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 11,144 9,851 21,253 19,823
NON-INTEREST INCOME:        
Fiduciary income 942 881 1,906 1,733
Service charges and fees on deposit accounts 1,426 1,312 2,731 2,534
Net gain (loss) from sales of debt securities, available-for-sale (1) 140 (1) 140
Bank owned life insurance income 182 297 368 486
Gains from sales of loans 97 63 119 102
Other operating income 145 97 304 225
TOTAL NON-INTEREST INCOME 2,791 2,790 5,427 5,220
NON-INTEREST EXPENSE:        
Salaries and employee benefits 5,128 4,703 10,105 9,229
Equipment expenses 268 264 521 475
Occupancy expense, net 658 636 1,385 1,204
State franchise tax 296 286 599 570
Marketing 284 216 416 359
Amortization of intangibles 188 188 373 373
FDIC insurance premiums 99 108 198 212
Contracted services 391 375 706 623
Other real estate owned 1 0 3 5
Merger-related expenses 855 0 1,613 0
Other non-interest expense 2,543 1,835 4,341 3,529
TOTAL NON-INTEREST EXPENSE 10,711 8,611 20,260 16,579
INCOME BEFORE INCOME TAXES 3,224 4,030 6,420 8,464
PROVISION FOR INCOME TAXES 486 1,027 969 2,215
NET INCOME $ 2,738 $ 3,003 $ 5,451 $ 6,249
Dividends declared per common share (usd per share) $ 0.16 $ 0.16 $ 0.32 $ 0.32
Earnings per common share:        
Basic (usd per share) 0.25 0.30 0.52 0.62
Diluted (usd per share) $ 0.25 $ 0.30 $ 0.52 $ 0.62
Weighted average common shares outstanding:        
Basic (in shares) 11,099,485 10,004,422 10,563,030 9,999,765
Diluted (in shares) 11,105,014 10,011,312 10,568,792 10,007,192