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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
INTEREST INCOME:        
Interest and fees on loans $ 13,363 $ 9,095 $ 33,479 $ 26,833
With a readily determinable fair value 17 13 48 44
Without a readily determinable fair value 7 6 22 17
Taxable 901 1,089 2,766 3,289
Non-taxable 661 783 2,045 2,377
Other investments 121 69 390 293
TOTAL INTEREST INCOME 15,070 11,055 38,750 32,853
INTEREST EXPENSE:        
Interest on deposits 1,810 850 3,777 2,539
Interest on short-term borrowings 12 55 88 97
Interest on long-term debt 145 3 226 10
TOTAL INTEREST EXPENSE 1,967 908 4,091 2,646
NET INTEREST INCOME 13,103 10,147 34,659 30,207
PROVISION FOR LOAN LOSSES 659 (12) 962 225
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 12,444 10,159 33,697 29,982
NON-INTEREST INCOME:        
Fiduciary income 1,081 871 2,987 2,604
Service charges and fees on deposit accounts 1,439 1,352 4,170 3,886
Net gain (loss) from sales of debt securities, available-for-sale (7) 78 (8) 218
Bank owned life insurance income 185 190 553 676
Gains from sales of loans 63 34 182 136
Other operating income 160 134 464 359
TOTAL NON-INTEREST INCOME 2,921 2,659 8,348 7,879
NON-INTEREST EXPENSE:        
Salaries and employee benefits 5,686 4,678 15,791 13,907
Equipment expenses 276 361 797 836
Occupancy expense, net 734 685 2,119 1,889
State franchise tax 299 281 898 851
Marketing 382 282 798 641
Amortization of intangibles 286 189 659 562
FDIC insurance premiums 91 108 289 320
Contracted services 387 307 1,093 930
Other real estate owned 1 3 4 8
Merger-related expenses 346 0 1,959 0
Other non-interest expense 1,829 1,778 6,170 5,307
TOTAL NON-INTEREST EXPENSE 10,317 8,672 30,577 25,251
INCOME BEFORE INCOME TAXES 5,048 4,146 11,468 12,610
PROVISION FOR INCOME TAXES 847 1,040 1,816 3,255
NET INCOME $ 4,201 $ 3,106 $ 9,652 $ 9,355
Dividends declared per common share (usd per share) $ 0.16 $ 0.16 $ 0.48 $ 0.48
Earnings per common share:        
Basic (usd per share) 0.32 0.31 0.84 0.93
Diluted (usd per share) $ 0.32 $ 0.31 $ 0.84 $ 0.93
Weighted average common shares outstanding:        
Basic (in shares) 13,285,203 10,008,807 11,480,390 10,002,812
Diluted (in shares) 13,290,665 10,015,204 11,486,051 10,009,942