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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 20,531 $ 17,786 $ 58,503 $ 51,671
Taxable securities 1,226 1,271 3,687 3,654
Tax exempt securities 1,461 1,232 4,172 3,473
Dividends 167 136 467 374
Federal funds sold and other interest income 178 126 490 271
TOTAL INTEREST AND DIVIDEND INCOME 23,563 20,551 67,319 59,443
INTEREST EXPENSE        
Deposits 2,242 1,182 5,376 3,213
Short-term borrowings 1,353 644 3,374 1,472
Long-term borrowings 49 50 142 179
TOTAL INTEREST EXPENSE 3,644 1,876 8,892 4,864
NET INTEREST INCOME 19,919 18,675 58,427 54,579
Provision for loan losses 950 950 2,475 2,950
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 18,969 17,725 55,952 51,629
NONINTEREST INCOME        
Bank owned life insurance income 219 193 660 585
Security gains (losses), including fair value changes for equity securities (34) 0 11 (1)
Net gains on sale of loans 804 758 1,897 2,256
Other operating income 387 457 1,086 1,147
TOTAL NONINTEREST INCOME 6,478 6,058 18,794 18,000
NONINTEREST EXPENSES        
Salaries and employee benefits 8,966 8,922 26,532 26,062
Occupancy and equipment 1,597 1,546 4,912 4,764
State and local taxes 475 436 1,413 1,277
Professional fees 687 726 2,122 2,248
Merger related costs 0 270 25 436
Advertising 489 405 1,143 966
FDIC insurance 218 235 665 704
Intangible amortization 354 379 1,063 1,108
Core processing charges 778 702 2,311 2,074
Telephone and data 298 249 773 732
Other operating expenses 2,318 1,921 5,775 5,797
TOTAL NONINTEREST EXPENSES 16,180 15,791 46,734 46,168
INCOME BEFORE INCOME TAXES 9,267 7,992 28,012 23,461
INCOME TAXES 1,183 2,009 4,129 5,985
NET INCOME $ 8,084 $ 5,983 $ 23,883 $ 17,476
EARNINGS PER SHARE - basic $ 0.29 $ 0.22 $ 0.86 $ 0.64
EARNINGS PER SHARE - fully diluted $ 0.29 $ 0.22 $ 0.85 $ 0.64
Service Charges on Deposit Accounts        
NONINTEREST INCOME        
Noninterest income $ 1,151 $ 1,077 $ 3,139 $ 3,017
Trust Fees        
NONINTEREST INCOME        
Noninterest income 1,827 1,608 5,374 4,809
Insurance Agency Commissions        
NONINTEREST INCOME        
Noninterest income 567 531 1,979 1,877
Retirement Plan Consulting Fees        
NONINTEREST INCOME        
Noninterest income 470 480 1,314 1,392
Investment Commissions        
NONINTEREST INCOME        
Noninterest income 273 184 844 659
Debit Card and EFT Fees        
NONINTEREST INCOME        
Noninterest income $ 814 $ 770 $ 2,490 $ 2,259