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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
INTEREST INCOME:        
Interest and fees on loans $ 14,822 $ 14,662 $ 30,049 $ 29,200
With a readily determinable fair value 13 15 27 32
Without a readily determinable fair value 12 16 28 32
Taxable 667 933 1,617 1,802
Non-taxable 254 417 539 961
Interest Income, Other Domestic Deposits 0 3 0 8
Other investments 189 282 253 406
TOTAL INTEREST INCOME 15,957 16,328 32,513 32,441
INTEREST EXPENSE:        
Interest on deposits 1,732 2,464 3,849 4,750
Interest on short-term borrowings 0 2 7 221
Interest on long-term debt 227 272 481 489
TOTAL INTEREST EXPENSE 1,959 2,738 4,337 5,460
NET INTEREST INCOME 13,998 13,590 28,176 26,981
PROVISION (CREDIT) FOR LOAN LOSSES 16 54 1,189 (51)
NET INTEREST INCOME AFTER PROVISION (CREDIT) FOR LOAN LOSSES 13,982 13,536 26,987 27,032
NON-INTEREST INCOME:        
Fiduciary income 1,201 1,058 2,304 2,092
Service charges and fees on deposit accounts 1,237 1,497 2,532 2,805
Realized (gain) loss from sales of debt securities, available-for-sale 0 (1) (221) 17
Bank owned life insurance income 287 183 888 365
Gains from sales of loans 317 64 437 93
Other operating income 277 195 776 432
TOTAL NON-INTEREST INCOME 3,319 2,998 7,158 5,770
NON-INTEREST EXPENSE:        
Salaries and employee benefits 6,648 6,243 13,416 12,405
Equipment expenses 289 278 576 544
Occupancy expense, net 723 744 1,405 1,507
State financial institutions tax 420 436 856 874
Marketing 258 297 435 599
Amortization of intangibles 260 260 520 517
FDIC insurance premiums (credit), net 31 112 30 238
Contracted services 475 475 877 939
Merger-related expenses 0 20 0 87
Other non-interest expense 2,011 1,920 4,082 3,772
TOTAL NON-INTEREST EXPENSE 11,116 10,833 22,188 21,533
INCOME BEFORE INCOME TAXES 6,185 5,701 11,957 11,269
PROVISION FOR INCOME TAXES 1,128 973 1,874 1,914
NET INCOME $ 5,057 $ 4,728 $ 10,083 $ 9,355
Dividends declared per common share (usd per share) $ 0.18 $ 0.17 $ 0.36 $ 0.34
Earnings per common share:        
Basic (usd per share) 0.39 0.36 0.78 0.71
Diluted (usd per share) $ 0.39 $ 0.36 $ 0.78 $ 0.71
Weighted average common shares outstanding:        
Basic (in shares) 12,940,975 13,192,691 12,933,528 13,237,909
Diluted (in shares) 12,941,001 13,196,665 12,934,158 13,241,752
Foreclosed Real Estate Expense $ 1 $ 48 $ (9) $ 51