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Unaudited Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest Income        
Interest and fees on loans $ 13,038 $ 12,106 $ 25,507 $ 23,828
Interest on investment securities:        
Taxable 2,023 1,984 4,048 3,884
Nontaxable 449 579 924 1,170
Interest on deposits in other banks 280 128 549 270
Interest on federal funds sold and money market mutual funds 142 33 248 57
Total interest income 15,932 14,830 31,276 29,209
Interest Expense        
Interest on deposits 614 523 1,200 1,056
Interest on securities sold under agreements to repurchase 20 16 39 41
Interest on Federal Home Loan Bank advances 27 129 55 289
Interest on subordinated notes payable to unconsolidated trusts 305 213 559 411
Total interest expense 966 881 1,853 1,797
Net interest income 14,966 13,949 29,423 27,412
Provision for loan losses 127 (499) (134) 81
Net interest income after provision for loan losses 14,839 14,448 29,557 27,331
Noninterest Income        
Net loss on sales of available for sale investment securities [1] 0 (1) 0 (10)
Net realized gain on sales of equity investment securities [1] 808 0 808 0
Gains on sale of mortgage loans, net [1] 104 189 199 343
Income from company-owned life insurance [1] 213 221 506 456
Other 89 76 109 198
Total noninterest income 5,973 5,102 11,174 10,353
Noninterest Expense        
Salaries and employee benefits 7,410 7,475 14,900 15,335
Occupancy expenses, net 1,177 1,135 2,431 2,349
Equipment expenses 678 599 1,279 1,152
Data processing and communication expenses 1,055 1,093 2,138 2,386
Bank franchise tax 525 609 1,025 1,166
Deposit insurance expense 116 130 242 267
Other real estate expenses, net 522 326 639 400
Other 2,179 1,979 4,126 3,820
Total noninterest expense 13,662 13,346 26,780 26,875
Income before income taxes 7,150 6,204 13,951 10,809
Income tax expense 1,303 1,722 2,463 2,998
Net income $ 5,847 $ 4,482 $ 11,488 $ 7,811
Per Common Share        
Net income – basic and diluted (in dollars per share) $ 0.78 $ 0.60 $ 1.53 $ 1.04
Cash dividends declared (in dollars per share) $ 0.125 $ 0.10 $ 0.25 $ 0.20
Weighted Average Common Shares Outstanding        
Basic and diluted (in shares) 7,520 7,512 7,519 7,511
Deposit Account [Member]        
Noninterest Income        
Service charges, commissions, fees, and trust income $ 1,897 $ 2,012 $ 3,809 $ 3,970
Allotment Processing Fees [Member]        
Noninterest Income        
Service charges, commissions, fees, and trust income 677 651 1,397 1,366
Financial Service, Other [Member]        
Noninterest Income        
Service charges, commissions, fees, and trust income 1,490 1,328 2,862 2,700
Fiduciary and Trust [Member]        
Noninterest Income        
Service charges, commissions, fees, and trust income $ 695 $ 626 $ 1,484 $ 1,330
[1] Not within the scope of ASC Topic 606.