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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest and dividend income        
Interest and fees on loans $ 6,608 $ 6,254 $ 12,930 $ 12,249
Interest on debt securities:        
Taxable 249 223 491 472
Tax exempt 162 146 327 283
Dividends 27 18 72 35
Interest on federal funds sold and overnight deposits 19 6 49 11
Interest on interest bearing deposits in banks 36 41 71 86
Total interest and dividend income 7,101 6,688 13,940 13,136
Interest expense        
Interest on deposits 396 412 818 837
Interest on borrowed funds 120 107 235 195
Total interest expense 516 519 1,053 1,032
Net interest income 6,585 6,169 12,887 12,104
Provision for loan losses 0 75 0 150
Net interest income after provision for loan losses 6,585 6,094 12,887 11,954
Noninterest income        
Trust income 191 180 369 352
Service fees 1,451 1,427 2,891 2,839
Net gains on sales of investment securities available-for-sale 9 18 9 18
Net gains on sales of loans held for sale 597 775 1,105 1,275
Other income 85 197 192 299
Total noninterest income 2,333 2,597 4,566 4,783
Noninterest expenses        
Salaries and wages 2,504 2,442 5,072 4,900
Pension and employee benefits 951 851 1,830 1,794
Occupancy expense, net 363 309 753 626
Equipment expense 523 541 1,057 1,050
Other expenses 1,530 1,665 3,100 3,141
Total noninterest expenses 5,871 5,808 11,812 11,511
Income before provision for income taxes 3,047 2,883 5,641 5,226
Provision for income taxes 820 744 1,484 1,328
Net income $ 2,227 $ 2,139 $ 4,157 $ 3,898
Earnings per common share $ 0.50 $ 0.48 $ 0.93 $ 0.87
Weighted average number of common shares outstanding 4,461,865 4,458,488 4,461,961 4,458,326
Dividends per common share $ 0.29 $ 0.28 $ 0.58 $ 0.55