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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 19,545 $ 17,402 $ 37,972 $ 33,885
Taxable securities 1,228 1,265 2,461 2,383
Tax exempt securities 1,380 1,170 2,711 2,241
Dividends 154 123 300 238
Federal funds sold and other interest income 167 82 312 145
TOTAL INTEREST AND DIVIDEND INCOME 22,474 20,042 43,756 38,892
INTEREST EXPENSE        
Deposits 1,723 1,117 3,134 2,031
Short-term borrowings 1,140 501 2,021 828
Long-term borrowings 49 51 93 129
TOTAL INTEREST EXPENSE 2,912 1,669 5,248 2,988
NET INTEREST INCOME 19,562 18,373 38,508 35,904
Provision for loan losses 750 950 1,525 2,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 18,812 17,423 36,983 33,904
NONINTEREST INCOME        
Bank owned life insurance income 219 191 441 392
Security gains (losses), including fair value changes for equity securities 27 (14) 45 (1)
Net gains on sale of loans 606 891 1,093 1,498
Other operating income 366 315 699 690
TOTAL NONINTEREST INCOME 6,306 6,055 12,316 11,942
NONINTEREST EXPENSES        
Salaries and employee benefits 8,828 8,853 17,566 17,140
Occupancy and equipment 1,611 1,631 3,315 3,218
State and local taxes 479 424 938 841
Professional fees 737 775 1,435 1,522
Merger related costs 0 104 25 166
Advertising 379 317 654 561
FDIC insurance 225 234 447 469
Intangible amortization 355 364 709 729
Core processing charges 794 717 1,533 1,372
Telephone and data 238 242 475 483
Other operating expenses 1,812 2,103 3,457 3,876
TOTAL NONINTEREST EXPENSES 15,458 15,764 30,554 30,377
INCOME BEFORE INCOME TAXES 9,660 7,714 18,745 15,469
INCOME TAXES 1,587 2,004 2,946 3,976
NET INCOME $ 8,073 $ 5,710 $ 15,799 $ 11,493
EARNINGS PER SHARE - basic and diluted $ 0.29 $ 0.21 $ 0.57 $ 0.42
Service Charges on Deposit Accounts        
NONINTEREST INCOME        
Non-interest income $ 985 $ 989 $ 1,988 $ 1,940
Trust Fees        
NONINTEREST INCOME        
Non-interest income 1,740 1,523 3,547 3,201
Insurance Agency Commissions        
NONINTEREST INCOME        
Non-interest income 713 672 1,412 1,346
Retirement Plan Consulting Fees        
NONINTEREST INCOME        
Non-interest income 465 399 844 912
Investment Commissions        
NONINTEREST INCOME        
Non-interest income 315 253 571 475
Debit Card and EFT Fees        
NONINTEREST INCOME        
Non-interest income $ 870 $ 836 $ 1,676 $ 1,489