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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
INTEREST INCOME:      
Interest and fees on loans $ 59,009 $ 47,489 $ 36,571
Dividend Income, Equity Securities, Operating 62 65 63
Dividend Income, Operating 65 39 26
Interest on debt securities:      
Taxable 3,601 3,666 4,239
Non-taxable 1,677 2,686 3,130
Interest Income, Deposits with Financial Institutions 11 58 0
Other investments 769 591 434
TOTAL INTEREST INCOME 65,194 54,594 44,463
INTEREST EXPENSE:      
Interest on deposits 9,526 5,753 3,378
Interest on short-term borrowings 227 311 209
Interest on long-term debt 1,035 361 12
TOTAL INTEREST EXPENSE 10,788 6,425 3,599
NET INTEREST INCOME 54,406 48,169 40,864
PROVISION FOR LOAN LOSSES 207 923 215
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 54,199 47,246 40,649
NON-INTEREST INCOME:      
Fiduciary income 4,354 3,958 3,473
Service charges and fees on deposit accounts 5,875 5,590 5,236
Net gains (losses) on sales of securities (41) (8) 233
Bank owned life insurance income 943 738 867
Net gains from sales of loans 328 223 166
Other operating income 889 549 483
TOTAL NON-INTEREST INCOME 12,348 11,050 10,458
NON-INTEREST EXPENSE:      
Salaries and employee benefits 25,320 21,279 18,585
Equipment expenses 1,209 1,138 1,172
Occupancy expense, net 2,961 2,861 2,613
State financial institutions tax 1,669 1,197 1,137
Marketing 1,319 1,119 873
Amortization of intangibles 1,043 922 751
FDIC premiums 225 419 423
ATM expense 580 580 572
Computer maintenance and supplies 1,094 990 882
Telephone expense 707 649 735
Contracted services 1,865 1,547 1,255
Other real estate owned 53 20 10
Merger-related expenses 114 2,123 118
Other non-interest expense 5,363 5,658 4,737
TOTAL NON-INTEREST EXPENSE 43,522 40,502 33,863
INCOME BEFORE INCOME TAXES 23,025 17,794 17,244
PROVISION FOR INCOME TAXES 4,113 2,949 4,272
NET INCOME $ 18,912 $ 14,845 $ 12,972
Earnings per common share:      
Basic (in dollars per share) $ 1.44 $ 1.24 $ 1.30
Diluted (in dollars per share) $ 1.44 $ 1.24 $ 1.29
Weighted average common shares outstanding:      
Basic (in shares) 13,078,920 11,935,350 10,005,575
Diluted (in shares) 13,082,893 11,942,253 10,012,511