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Consolidated Statement of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income        
Interest and fees on loans $ 9,781 $ 9,109 $ 19,339 $ 18,238
Interest on investment securities: taxable 1,370 1,749 2,925 3,610
Interest on investment securities: Exempt from federal income tax 201 323 436 668
Total investment income 1,571 2,072 3,361 4,278
Other 105 87 195 175
Total interest income 11,457 11,268 22,895 22,691
Interest expense        
Interest on deposits 785 1,017 1,589 2,058
Interest on short-term borrowings 15 14 28 28
Interest on long-term borrowings 1,278 1,462 2,490 2,936
Total interest expense 2,078 2,493 4,107 5,022
Net interest income 9,379 8,775 18,788 17,669
Provision for loan losses 1,346 52 1,914 126
Net interest income after provision for loan losses 8,033 8,723 16,874 17,543
Other operating income        
Net gains/(losses) 64 102 280 5
Service charges 847 735 1,613 1,385
Trust department 1,517 1,389 2,934 2,770
Debit card income 560 417 1,035 915
Bank owned life insurance 516 288 835 555
Brokerage commissions 220 232 507 468
Other 99 97 223 218
Total other income 3,759 3,158 7,147 6,311
Total other operating income 3,823 3,260 7,427 6,316
Other operating expenses        
Salaries and employee benefits 5,133 5,276 10,444 10,258
FDIC premiums 260 471 674 930
Equipment 574 653 1,209 1,271
Occupancy 607 614 1,246 1,250
Data processing 697 779 1,346 1,616
Professional Services 289 615 589 905
Other real estate owned 166 415 250 1,047
Other 1,813 1,687 3,678 3,282
Total other operating expenses 9,539 10,510 19,436 20,559
Income before income tax expense 2,317 1,473 4,865 3,300
Provision for income tax expense 613 298 1,290 757
Net Income 1,704 1,175 3,575 2,543
Accumulated preferred stock dividends (450) (675) (1,125) (1,350)
Net Income Available to Common Shareholders $ 1,254 $ 500 $ 2,450 $ 1,193
Basic and diluted net income per common share $ 0.20 $ 0.08 $ 0.39 $ 0.19
Weighted average number of basic and diluted shares outstanding 6,264 6,249 6,259 6,243