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Consolidated Statement of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest income        
Interest and fees on loans $ 9,311 $ 9,447 $ 27,549 $ 28,144
Interest on investment securities: taxable 1,755 1,579 5,365 5,323
Interest on investment securities: Exempt from federal income tax 302 371 970 1,175
Total investment income 2,057 1,950 6,335 6,498
Other 93 100 268 276
Total interest income 11,461 11,497 34,152 34,918
Interest expense        
Interest on deposits 960 1,154 3,018 3,489
Interest on short-term borrowings 14 16 42 46
Interest on long-term borrowings 1,277 1,502 4,213 4,699
Total interest expense 2,251 2,672 7,273 8,234
Net interest income 9,210 8,825 26,879 26,684
Provision for loan losses 500 688 626 1,629
Net interest income after provision for loan losses 8,710 8,137 26,253 25,055
Other operating income        
Net gains - other 95 166 100 1,127
Total net gains 95 166 100 1,127
Service charges 792 747 2,177 2,213
Trust department 1,455 1,354 4,225 3,922
Debit card income 578 529 1,586 1,516
Bank owned life insurance 294 249 849 737
Brokerage commissions 238 201 706 607
Other 90 88 308 309
Total other income 3,447 3,168 9,851 9,304
Total other operating income 3,542 3,334 9,951 10,431
Other operating expenses        
Salaries and employee benefits 5,445 4,910 15,703 14,613
FDIC premiums 474 478 1,404 1,360
Equipment 634 625 1,905 1,931
Occupancy 617 592 1,867 1,868
Data processing 871 803 2,580 2,379
Professional Services 240 239 1,145 1,092
Other real estate owned (71) 514 976 2,128
Other 1,500 1,747 4,782 5,202
Total other operating expenses 9,710 9,908 30,362 30,573
Income before income tax expense 2,542 1,563 5,842 4,913
Provision for income tax expense 594 223 1,351 975
Net Income 1,948 1,340 4,491 3,938
Accumulated preferred stock dividends and discount accretion (675) (675) (2,025) (1,925)
Net Income Available to Common Shareholders $ 1,273 $ 665 $ 2,466 $ 2,013
Basic and diluted net income per common share $ 0.20 $ 0.10 $ 0.39 $ 0.32
Weighted average number of basic and diluted shares outstanding 6,255 6,228 6,247 6,220