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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 16,048 $ 13,385 $ 46,941 $ 29,703
Taxable securities 1,160 1,369 3,885 4,421
Tax exempt securities 893 783 2,681 2,060
Dividends 177 48 403 142
Federal funds sold and other interest income 54 9 119 20
TOTAL INTEREST AND DIVIDEND INCOME 18,332 15,594 54,029 36,346
INTEREST EXPENSE        
Deposits 858 909 2,358 2,675
Short-term borrowings 166 59 485 86
Long-term borrowings 115 88 357 306
TOTAL INTEREST EXPENSE 1,139 1,056 3,200 3,067
NET INTEREST INCOME 17,193 14,538 50,829 33,279
Provision for loan losses 1,110 1,220 2,880 2,520
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 16,083 13,318 47,949 30,759
NONINTEREST INCOME        
Service charges on deposit accounts 1,057 929 2,979 2,204
Bank owned life insurance income 194 184 608 488
Trust fees 1,693 1,482 4,753 4,638
Insurance agency commissions 569 130 1,001 394
Security gains 31 3 72 48
Retirement plan consulting fees 561 423 1,546 1,705
Investment commissions 308 332 900 886
Net gains on sale of loans 1,063 415 2,005 694
Debit card interchange fees 653 506 1,936 1,196
Other operating income 356 281 1,368 878
TOTAL NONINTEREST INCOME 6,485 4,685 17,168 13,131
NONINTEREST EXPENSES        
Salaries and employee benefits 8,366 7,244 23,660 18,449
Occupancy and equipment 1,587 1,368 4,867 3,680
State and local taxes 394 400 1,181 888
Professional fees 671 738 1,954 1,760
Merger related costs 31 2,499 544 4,656
Advertising 383 344 1,091 843
FDIC insurance 287 256 856 611
Intangible amortization 421 304 1,093 638
Core processing charges 738 643 1,956 1,406
Other operating expenses 2,347 1,725 7,250 4,428
TOTAL NONINTEREST EXPENSES 15,225 15,521 44,452 37,359
INCOME BEFORE INCOME TAXES 7,343 2,482 20,665 6,531
INCOME TAXES 1,967 625 5,471 1,651
NET INCOME $ 5,376 $ 1,857 $ 15,194 $ 4,880
EARNINGS PER SHARE - basic and diluted $ 0.20 $ 0.07 $ 0.56 $ 0.23