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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest income:        
Loans, including fees $ 3,548 $ 3,662 $ 7,095 $ 7,212
Taxable securities 557 535 1,118 890
Tax-exempt securities 114 126 232 256
Other interest income 1 2 1 3
Total interest income 4,220 4,325 8,446 8,361
Interest expense:        
Deposits 413 608 894 1,229
Securities sold under agreements to repurchase 1 1 2 2
Short-term borrowings 10 1 21 2
Long-term debt 68 69 136 69
Other interest bearing liabilities 4 4 8 8
Total interest expense 496 683 1,061 1,310
Net interest income 3,724 3,642 7,385 7,051
Provision for loan losses 112 117 162 137
Net interest income after provision for loan losses 3,612 3,525 7,223 6,914
Non-interest income:        
Customer service fees 389 290 753 558
Debit card fee income 219 215 424 418
Earnings on bank-owned life insurance and annuities 92 94 182 191
Trust fees 84 131 165 207
Commissions from sales of non-deposit products 118 88 208 200
Income from unconsolidated subsidiary 62 57 111 94
Fees derived from loan activity 52 32 86 70
Mortgage banking income 60 56 114 85
Net gain (loss) on sales and calls of securities 1 2 (16) 7
Gain from life insurance proceeds   165   165
Other non-interest income 53 40 103 95
Total non-interest income 1,130 1,170 2,130 2,090
Non-interest expense:        
Employee compensation expense 1,490 1,497 2,964 2,849
Employee benefits 473 363 1,023 766
Occupancy 253 237 535 519
Equipment 133 116 261 230
Data processing expense 390 370 777 750
Director compensation 54 51 103 108
Professional fees 100 99 214 198
Taxes, other than income 92 77 181 184
FDIC Insurance premiums 75 74 162 155
(Gain) loss on sales of other real estate owned (5) 29 (5) 11
Amortization of intangibles 11 11 22 22
Amortization of investment in low-income housing partnership 119 119 239 239
Merger and acquisition expense 48   58  
Other non-interest expense 388 358 691 706
Total non-interest expense 3,621 3,401 7,225 6,737
Income before income taxes 1,121 1,294 2,128 2,267
Provision for income taxes 120 131 203 201
Net income $ 1,001 $ 1,163 $ 1,925 $ 2,066
Earnings per share        
Basic $ 0.24 $ 0.28 $ 0.46 $ 0.49
Diluted 0.24 0.28 0.46 0.49
Cash dividends declared per share $ 0.22 $ 0.22 $ 0.44 $ 0.44
Weighted average basic shares outstanding 4,189,090 4,195,491 4,188,265 4,195,876
Weighted average diluted shares outstanding 4,190,036 4,195,749 4,189,304 4,196,136