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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest and dividend income        
Interest and fees on loans $ 6,893 $ 6,355 $ 19,823 $ 18,604
Interest on debt securities:        
Taxable 250 211 741 683
Tax exempt 159 144 486 427
Dividends 42 27 114 62
Interest on federal funds sold and overnight deposits 15 12 64 23
Interest on interest bearing deposits in banks 38 37 109 123
Total interest and dividend income 7,397 6,786 21,337 19,922
Interest expense        
Interest on deposits 453 363 1,271 1,200
Interest on borrowed funds 134 108 369 303
Total interest expense 587 471 1,640 1,503
Net interest income 6,810 6,315 19,697 18,419
Provision for loan losses 150 0 150 150
Net interest income after provision for loan losses 6,660 6,315 19,547 18,269
Noninterest income        
Trust income 179 171 548 523
Service fees 1,553 1,538 4,444 4,377
Net gains on sales of investment securities available-for-sale 24 53 33 71
Net gains on sales of loans held for sale 657 921 1,762 2,196
Other income 93 121 285 420
Total noninterest income 2,506 2,804 7,072 7,587
Noninterest expenses        
Salaries and wages 2,570 2,622 7,642 7,522
Pension and employee benefits 954 865 2,784 2,659
Occupancy expense, net 320 297 1,073 923
Equipment expense 532 553 1,589 1,603
Other expenses 1,565 1,687 4,665 4,828
Total noninterest expenses 5,941 6,024 17,753 17,535
Income before provision for income taxes 3,225 3,095 8,866 8,321
Provision for income taxes 855 827 2,339 2,155
Net income $ 2,370 $ 2,268 $ 6,527 $ 6,166
Earnings per common share $ 0.53 $ 0.51 $ 1.46 $ 1.38
Weighted average number of common shares outstanding 4,462,414 4,459,602 4,462,113 4,458,755
Dividends per common share $ 0.29 $ 0.28 $ 0.87 $ 0.83