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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
INTEREST INCOME:        
Interest and fees on loans $ 14,872 $ 13,363 $ 44,072 $ 33,479
With a readily determinable fair value 15 17 47 48
Without a readily determinable fair value 16 7 48 22
Taxable 918 901 2,720 2,766
Non-taxable 379 661 1,340 2,045
Interest Income, Other Domestic Deposits 3 32 11 34
Other investments 126 89 532 356
TOTAL INTEREST INCOME 16,329 15,070 48,770 38,750
INTEREST EXPENSE:        
Interest on deposits 2,475 1,810 7,225 3,777
Interest on short-term borrowings 3 12 224 88
Interest on long-term debt 273 145 762 226
TOTAL INTEREST EXPENSE 2,751 1,967 8,211 4,091
NET INTEREST INCOME 13,578 13,103 40,559 34,659
PROVISION FOR LOAN LOSSES 264 659 213 962
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 13,314 12,444 40,346 33,697
NON-INTEREST INCOME:        
Fiduciary income 1,123 1,081 3,215 2,987
Service charges and fees on deposit accounts 1,616 1,439 4,421 4,170
Realized loss from sales of debt securities, available-for-sale 20 7 37 8
Bank owned life insurance income 289 185 654 553
Gains from sales of loans 114 63 207 182
Other operating income 234 160 666 464
TOTAL NON-INTEREST INCOME 3,376 2,928 9,163 8,356
NON-INTEREST EXPENSE:        
Salaries and employee benefits 6,403 5,686 18,808 15,791
Equipment expenses 322 276 866 797
Occupancy expense, net 751 734 2,258 2,119
State financial institutions tax 433 299 1,307 898
Marketing 410 382 1,009 798
Amortization of intangibles 263 286 780 659
FDIC insurance premiums (refunds), net (13) 91 225 289
Contracted services 455 387 1,394 1,093
Other real estate owned 1 1 52 4
Merger-related expenses 27 346 114 1,959
Other non-interest expense 1,930 1,829 5,702 6,170
TOTAL NON-INTEREST EXPENSE 11,002 10,324 32,552 30,585
INCOME BEFORE INCOME TAXES 5,688 5,048 16,957 11,468
PROVISION FOR INCOME TAXES 961 847 2,875 1,816
NET INCOME $ 4,727 $ 4,201 $ 14,082 $ 9,652
Dividends declared per common share (usd per share) $ 0.17 $ 0.16 $ 0.51 $ 0.48
Earnings per common share:        
Basic (usd per share) 0.36 0.32 1.07 0.84
Diluted (usd per share) $ 0.36 $ 0.32 $ 1.07 $ 0.84
Weighted average common shares outstanding:        
Basic (in shares) 12,932,950 13,285,203 13,135,134 11,480,390
Diluted (in shares) 12,937,145 13,290,665 13,139,100 11,486,051