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Consolidated Statements of Income - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest income:        
Loans, including fees $ 5,230,000 $ 4,607,000 $ 14,822,000 $ 13,491,000
Taxable securities 748,000 729,000 2,288,000 2,128,000
Tax-exempt securities 97,000 112,000 299,000 340,000
Other interest income 54,000 9,000 103,000 20,000
Total interest income 6,129,000 5,457,000 17,512,000 15,979,000
Interest expense:        
Deposits 839,000 561,000 2,178,000 1,555,000
Securities sold under agreements to repurchase 17,000 8,000 49,000 17,000
Short-term borrowings 21,000 80,000 164,000 212,000
Long-term debt 62,000 95,000 215,000 274,000
Other interest bearing liabilities 11,000 8,000 28,000 23,000
Total interest expense 950,000 752,000 2,634,000 2,081,000
Net interest income 5,179,000 4,705,000 14,878,000 13,898,000
Provision for loan losses 32,000 149,000 231,000 389,000
Net interest income after provision for loan losses 5,147,000 4,556,000 14,647,000 13,509,000
Non-interest income:        
Customer service fees 462,000 428,000 1,311,000 1,302,000
Debit card fee income 323,000 274,000 939,000 824,000
Earnings on bank-owned life insurance and annuities 99,000 93,000 266,000 269,000
Trust fees 91,000 97,000 316,000 324,000
Commissions from sales of non-deposit products 82,000 43,000 202,000 140,000
Income/gain from unconsolidated subsidiary 49,000 296,000 154,000
Fees derived from loan activity 91,000 77,000 263,000 181,000
Mortgage banking income 17,000 83,000 53,000 170,000
Gain (loss) on sales and calls of securities 2,000 (15,000) 510,000
Change in value of equity securities (4,000)   42,000  
Other non-interest income 80,000 73,000 238,000 217,000
Total non-interest income 1,241,000 1,219,000 3,911,000 4,091,000
Non-interest expense:        
Employee compensation expense 1,992,000 1,829,000 5,717,000 5,326,000
Employee benefits 848,000 567,000 1,935,000 1,802,000
Occupancy 306,000 291,000 918,000 878,000
Equipment 203,000 175,000 607,000 504,000
Data processing expense 498,000 440,000 1,402,000 1,318,000
Director compensation 50,000 60,000 157,000 183,000
Professional fees 140,000 148,000 494,000 431,000
Taxes, other than income 157,000 111,000 409,000 353,000
FDIC Insurance premiums 59,000 83,000 208,000 250,000
(Gain) loss on sales of other real estate owned (52,000) 19,000 (62,000) (26,000)
Amortization of intangible assets 23,000 17,000 54,000 52,000
Amortization of investment in low-income housing partnerships 200,000 173,000 600,000 412,000
Merger and acquisition expense 185,000   625,000  
Other non-interest expense 423,000 529,000 1,279,000 1,457,000
Total non-interest expense 5,032,000 4,442,000 14,343,000 12,940,000
Income before income taxes 1,356,000 1,333,000 4,215,000 4,660,000
Income tax (benefit) provision (29,000) 127,000 (66,000) 701,000
Net income $ 1,385,000 $ 1,206,000 $ 4,281,000 $ 3,959,000
Earnings per share        
Basic $ 0.27 $ 0.25 $ 0.86 $ 0.83
Diluted 0.27 0.25 0.86 0.83
Cash dividends declared per share $ 0.22 $ 0.22 $ 0.66 $ 0.66
Weighted average basic shares outstanding 5,093,536 4,767,656 4,951,537 4,764,325
Weighted average diluted shares outstanding 5,120,466 4,778,950 4,973,179 4,772,935