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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Interest income    
Interest and fees on loans (includes tax-exempt income of $211,000 as of March 31, 2018 and $186,000 as of March 31, 2017) $ 12,391 $ 10,652
Interest on deposits with other banks 11 15
Interest and dividends on investments (includes tax-exempt income of $1,719,000 as of March 31, 2018 and $1,569,000 as of March 31, 2017) 4,049 3,824
Total interest income 16,451 14,491
Interest expense    
Interest on deposits 3,099 1,994
Interest on borrowed funds 943 1,021
Total interest expense 4,042 3,015
Net interest income 12,409 11,476
Provision for loan losses 500 500
Net interest income after provision for loan losses 11,909 10,976
Non-interest income    
Investment management and fiduciary income 740 631
Service charges on deposit accounts 527 502
Net securities gains 136 3
Mortgage origination and servicing income, net of amortization 331 332
Other operating income 1,398 1,375
Total non-interest income 3,132 2,843
Non-interest expense    
Salaries and employee benefits 4,490 3,970
Occupancy expense 699 624
Furniture and equipment expense 929 870
FDIC insurance premiums 279 240
Amortization of identified intangibles 11 11
Other operating expense 2,171 1,983
Total non-interest expense 8,579 7,698
Income before income taxes 6,462 6,121
Income tax expense 956 1,484
NET INCOME $ 5,506 $ 4,637
Basic earnings per common share (usd per share) $ 0.51 $ 0.43
Diluted earnings per common share (usd per share) $ 0.51 $ 0.43
Other comprehensive income (loss) net of tax    
Net unrealized gain (loss) on securities available for sale $ (3,309) $ 1
Net unrealized loss on securities transferred from available for sale to held to maturity, net of amortization (8) (4)
Net unrealized gain on cash flow hedging derivative instruments 384 63
Other comprehensive income (loss) (2,933) 60
Comprehensive income $ 2,573 $ 4,697