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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest Income:        
Interest and fees on loans $ 5,218 $ 5,083 $ 15,377 $ 15,006
Interest and dividends on investment securities: Taxable 716 714 2,150 2,208
Interest and dividends on investment securities: Exempt from federal taxes 316 354 944 1,042
Interest on cash and cash equivalents 27 10 91 32
Total interest and dividend income 6,277 6,161 18,562 18,288
Interest Expense:        
Interest on NOW, money market and savings 230 148 588 450
Interest on time deposits 139 84 396 291
Interest on brokered deposits 81 68 214 118
Interest on FHLB advances 92 198 276 589
Interest on repurchase agreements 9 16 30 35
Interest on junior subordinated debentures 89 77 254 224
Interest on subordinated debt 104 103 311 237
Interest on other borrowings 16 17 49 51
Total interest expense 760 711 2,118 1,995
Net interest income 5,517 5,450 16,444 16,293
Provision for credit losses 100 100 630 815
Net interest income after provision for credit losses 5,417 5,350 15,814 15,478
Non-interest Income:        
Service charges 280 292 827 860
Wealth management 393 317 1,231 1,091
Mortgage banking 76 38 189 127
Increase in cash surrender value of BOLI 56 57 166 169
Gains on sale of investment securities, net 197 10 431 74
Gain on sale of loans     39 416
Gains from insurance proceeds 30   1,180  
Other fees 337 323 1,022 973
Total non-interest income 1,369 1,037 5,085 3,710
Non-interest Expense:        
Salaries and employee benefits 2,817 2,615 8,636 7,897
Furniture and equipment 422 303 1,093 908
Occupancy 524 431 1,459 1,500
Professional and consulting 306 317 948 906
Advertising and marketing 111 141 460 480
Printing and supplies 36 35 129 122
FDIC insurance 73 129 323 376
PA shares tax 157 151 476 452
Telecommunications 63 63 185 184
Postage 28 20 70 65
Loss on sale or write down of OREO, net 160 154 164 154
Due diligence and merger expense 1,498   1,961  
Other expenses 509 400 1,390 1,263
Total non-interest expense 6,704 4,759 17,294 14,307
Income before income tax expense 82 1,628 3,605 4,881
Income tax expense 81 359 939 1,125
Net income 1 1,269 2,666 3,756
Preferred stock dividends and accretion of discount   8   42
Net income available to common shareholders $ 1 $ 1,261 $ 2,666 $ 3,714
Earnings per common share:        
Basic $ 0.00 $ 0.45 $ 0.94 $ 1.33
Diluted 0.00 0.44 0.93 1.31
Cash dividends per common share $ 0.07 $ 0.07 $ 0.21 $ 0.21
Weighted average common shares outstanding:        
Basic 2,853,080 2,806,549 2,844,780 2,798,360
Diluted 2,885,799 2,852,237 2,879,240 2,844,319