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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest Income:        
Interest and fees on loans $ 5,091 $ 5,011 $ 10,159 $ 9,923
Interest and dividends on investment securities: Taxable 752 759 1,434 1,494
Interest and dividends on investment securities: Exempt from federal taxes 294 346 628 688
Interest on cash and cash equivalents 43 15 64 22
Total interest and dividend income 6,180 6,131 12,285 12,127
Interest Expense:        
Interest on NOW, money market and savings 194 153 358 302
Interest on time deposits 140 98 257 207
Interest on brokered deposits 71 26 133 50
Interest on FHLB advances 90 197 184 391
Interest on repurchase agreements 10 10 21 19
Interest on junior subordinated debentures 84 73 165 147
Interest on subordinated debt 103 104 207 134
Interest on other borrowings 16 17 33 34
Total interest expense 708 678 1,358 1,284
Net interest income 5,472 5,453 10,927 10,843
Provision for credit losses 200 415 530 715
Net interest income after provision for credit losses 5,272 5,038 10,397 10,128
Non-interest Income:        
Service charges 240 272 547 568
Wealth management 441 422 838 774
Mortgage banking 81 51 113 89
Increase in cash surrender value of BOLI 55 56 110 111
Gains on sale of investment securities, net 203 11 234 64
Gain on sale of loans   185 39 416
Gains from insurance proceeds     1,150  
Other fees 367 341 685 651
Total non-interest income 1,387 1,338 3,716 2,673
Non-interest Expense:        
Salaries and employee benefits 2,693 2,638 5,819 5,282
Furniture and equipment 342 303 671 605
Occupancy 467 466 935 1,069
Professional and consulting 333 261 642 589
Advertising and marketing 166 170 349 339
Printing and supplies 60 39 93 87
FDIC insurance 121 124 250 247
PA shares tax 157 151 319 301
Telecommunications 61 60 122 121
Postage 21 22 42 45
Loss on sale or write down of OREO, net 4   4  
Due diligence and merger expense 275   463  
Other expenses 472 490 881 863
Total non-interest expense 5,172 4,724 10,590 9,548
Income before income tax expense 1,487 1,652 3,523 3,253
Income tax expense 378 417 858 766
Net income 1,109 1,235 2,665 2,487
Preferred stock dividends and accretion of discount   8   34
Net income available to common shareholders $ 1,109 $ 1,227 $ 2,665 $ 2,453
Earnings per common share:        
Basic $ 0.39 $ 0.44 $ 0.94 $ 0.88
Diluted 0.39 0.43 0.93 0.86
Cash dividends per common share $ 0.07 $ 0.07 $ 0.14 $ 0.14
Weighted average common shares outstanding:        
Basic 2,848,648 2,802,292 2,840,677 2,794,283
Diluted 2,882,729 2,847,638 2,876,016 2,840,380