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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income        
Interest and fees on loans $ 9,767 $ 8,869 $ 28,627 $ 25,808
Interest and dividends on investment securities (Available-for-sale & Equity):        
Taxable 1,644 1,553 4,918 4,681
Tax-exempt 370 456 1,178 1,400
Interest on interest-bearing balances and other interest income 36 48 95 108
Total interest income 11,817 10,926 34,818 31,997
Interest on deposits        
Interest-bearing demand 846 708 2,327 1,518
Money market 158 92 670 212
Savings 401 423 1,206 1,122
Time 507 403 1,405 1,160
Time of $100,000 or more 551 442 1,523 1,256
Interest on short-term borrowings 172 154 558 534
Total interest expense 2,635 2,222 7,689 5,802
Net interest income 9,182 8,704 27,129 26,195
Provision for loan losses 550 568 925 943
Net interest income after provision for loan losses 8,632 8,136 26,204 25,252
Non-interest income        
Net gain on sales of investments available-for-sale and equity securities 973 181 1,563 314
Unrealized (loss) gain on investment equity securities (305) 731 266 526
Fees for services to customers 432 419 1,247 1,248
ATM and debit card 533 476 1,522 1,393
Retail brokerage and advisory 145 96 419 304
Bank-owned life insurance 70 70 208 207
Merchant 87 85 261 241
Net gain on sale of loans 63 38 112 82
Other 146 131 509 433
Total non-interest income 2,144 2,227 6,107 4,748
Non-interest expense        
Salaries and employee benefits 4,063 3,612 11,634 10,584
Net occupancy 500 472 1,511 1,391
Furniture and equipment 623 528 1,771 1,578
Marketing 285 167 785 698
Third party services 461 473 1,347 1,389
Telephone, postage and supplies 184 170 535 524
State taxes 171 203 549 538
FDIC insurance premiums   146 265 467
Other 668 614 2,075 1,927
Total non-interest expense 6,955 6,385 20,472 19,096
Income before income taxes 3,821 3,978 11,839 10,904
Provision for income taxes 731 767 2,227 1,896
Net income $ 3,090 $ 3,211 $ 9,612 $ 9,008
Earnings per share - basic $ 0.88 $ 0.93 $ 2.75 $ 2.60
Earnings per share - diluted 0.88 0.92 2.75 2.59
Cash dividends per share $ 0.33 $ 0.32 $ 0.99 $ 0.96