XML 19 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Interest Income:      
Loans (including fees) $ 54,034 $ 45,495 $ 42,536
Deposits with other banks 178 69 72
Securities (including FHLB stock) 13,325 12,968 13,471
Federal funds sold 9 0 0
Total Interest Income 67,546 58,532 56,079
Interest Expense:      
Demand deposits 5,526 2,633 1,419
Savings deposits 201 80 38
Time deposits 7,112 5,954 6,985
Borrowings 1,554 1,473 166
Total Interest Expense 14,393 10,140 8,608
Net Interest Income 53,153 48,392 47,471
Less: Provision for loan losses 3,822 3,705 3,864
Net Interest Income after Provision for Loan Losses 49,331 44,687 43,607
Noninterest Income:      
Service charges, commissions and fees 2,589 2,388 2,736
ATM and debit card fees 1,986 1,859 1,779
Net gains on securities 1,397 3,799 3,300
Net gains on sale of loans 311 14 4
Other 2,057 1,395 1,137
Total Noninterest Income 8,340 9,455 8,956
Noninterest Expense:      
Salaries and employee benefits 20,113 16,577 15,496
Occupancy and equipment expense 4,505 4,242 3,845
Other 13,903 12,066 11,754
Total Noninterest Expense 38,521 32,885 31,095
Income Before Income Taxes 19,150 21,257 21,468
Less: Provision for income taxes 7,399 7,164 6,963
Net Income 11,751 14,093 14,505
Preferred stock dividends 0 0 (384)
Income Available to Common Shareholders $ 11,751 $ 14,093 $ 14,121
Per Common Share:      
Earnings (in dollars per share) [1] $ 1.37 $ 1.68 $ 1.83
Cash dividends paid (in dollars per share) [1] $ 0.60 $ 0.58 $ 0.54
Weighted Average Common Shares Outstanding (in shares) 8,608,088 8,369,424 7,714,620
[1] All share and per share amounts have been restated to reflect the ten percent stock dividend paid December 14, 2017 to shareholders of record as of December 8, 2017.