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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 22,324 $ 19,545 $ 43,793 $ 37,972
Taxable securities 1,238 1,228 2,482 2,461
Tax exempt securities 1,638 1,380 3,233 2,711
Dividends 171 154 346 300
Federal funds sold and other interest income 158 167 354 312
TOTAL INTEREST AND DIVIDEND INCOME 25,529 22,474 50,208 43,756
INTEREST EXPENSE        
Deposits 4,359 1,723 7,794 3,134
Short-term borrowings 631 1,140 1,862 2,021
Long-term borrowings 48 49 96 93
TOTAL INTEREST EXPENSE 5,038 2,912 9,752 5,248
NET INTEREST INCOME 20,491 19,562 40,456 38,508
Provision for loan losses 750 750 1,300 1,525
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 19,741 18,812 39,156 36,983
NONINTEREST INCOME        
Bank owned life insurance income 208 219 422 441
Security gains (losses), including fair value changes for equity securities (18) 27 (8) 45
Net gains on sale of loans 1,055 606 1,726 1,093
Other operating income 432 366 926 699
TOTAL NONINTEREST INCOME 6,994 6,306 13,514 12,316
NONINTEREST EXPENSES        
Salaries and employee benefits 9,266 8,828 18,622 17,566
Occupancy and equipment 1,650 1,611 3,367 3,315
State and local taxes 472 479 942 938
Professional fees 887 737 1,681 1,435
Merger related (income) costs (19) 0 (19) 25
Advertising 442 379 692 654
FDIC insurance 85 225 172 447
Intangible amortization 327 355 654 709
Core processing charges 803 794 1,594 1,533
Telephone and data 217 238 477 475
Other operating expenses 2,574 1,812 4,499 3,457
TOTAL NONINTEREST EXPENSES 16,704 15,458 32,681 30,554
INCOME BEFORE INCOME TAXES 10,031 9,660 19,989 18,745
INCOME TAXES 1,488 1,587 3,058 2,946
NET INCOME $ 8,543 $ 8,073 $ 16,931 $ 15,799
EARNINGS PER SHARE - basic $ 0.31 $ 0.29 $ 0.61 $ 0.57
EARNINGS PER SHARE - fully diluted $ 0.31 $ 0.29 $ 0.61 $ 0.57
Service Charges on Deposit Accounts        
NONINTEREST INCOME        
Noninterest income $ 1,093 $ 985 $ 2,167 $ 1,988
Trust Fees        
NONINTEREST INCOME        
Noninterest income 1,821 1,740 3,679 3,547
Insurance Agency Commissions        
NONINTEREST INCOME        
Noninterest income 739 713 1,542 1,412
Retirement Plan Consulting Fees        
NONINTEREST INCOME        
Noninterest income 450 465 808 844
Investment Commissions        
NONINTEREST INCOME        
Noninterest income 327 315 587 571
Debit Card and EFT Fees        
NONINTEREST INCOME        
Noninterest income $ 887 $ 870 $ 1,665 $ 1,676