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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest and dividend income:        
Loans $ 11,266 $ 9,760 $ 21,952 $ 19,300
Investment securities 4,274 5,086 8,797 10,160
Other investments 70 35 149 78
Total interest and dividend income 15,610 14,881 30,898 29,538
Interest expense:        
Deposits 1,154 1,103 2,288 2,194
Advances from the Federal Home Loan Bank 157 66 227 132
Securities sold under agreements to repurchase 243 343 555 686
Total interest expense 1,554 1,512 3,070 3,012
Net interest income 14,056 13,369 27,828 26,526
Provision for loan losses 101 156 295 165
Net interest income after provision for loan losses 13,955 13,213 27,533 26,361
Noninterest income:        
Service fees on loan and deposit accounts 527 524 987 1,023
Income on bank-owned life insurance 256 264 511 532
Gain on sale of investment securities 240 309 476 655
Gain on sale of loans 110 86 239 165
Other 115 96 281 262
Total noninterest income 1,248 1,279 2,494 2,637
Noninterest expense:        
Salaries and employee benefits 5,064 5,297 10,163 10,660
Occupancy 1,428 1,409 2,865 2,831
Equipment 953 905 1,898 1,819
Federal deposit insurance premiums 211 201 420 400
Other general and administrative expenses 1,187 935 2,401 1,901
Total noninterest expense 8,843 8,747 17,747 17,611
Income before income taxes 6,360 5,745 12,280 11,387
Income taxes 2,523 2,026 4,917 4,206
Net income $ 3,837 $ 3,719 $ 7,363 $ 7,181
Basic earnings per share (in dollars per share) $ 0.42 $ 0.41 $ 0.81 $ 0.78
Diluted earnings per share (in dollars per share) 0.41 0.40 0.79 0.77
Cash dividends declared per common share (in dollars per share) $ 0.16 $ 0.15 $ 0.32 $ 0.29
Basic weighted-average shares outstanding (in shares) 9,053,383 9,164,801 9,086,865 9,176,108
Diluted weighted-average shares outstanding (in shares) 9,307,988 9,346,872 9,314,776 9,363,631