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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest Income        
Interest and fees on loans $ 7,453 $ 7,289 $ 14,906 $ 14,623
Interest on interest-bearing deposits 231 150 379 312
Interest on securities – taxable 1,397 1,567 2,799 3,244
Interest on securities – nontaxable 1,214 1,286 2,449 2,597
Total interest income 10,295 10,292 20,533 20,776
Interest Expense        
Interest on time deposits 135 181 280 375
Interest on other deposits 913 882 1,796 1,756
Total interest expense 1,048 1,063 2,076 2,131
Net interest income 9,247 9,229 18,457 18,645
Provision for loan losses 464 654 523 857
Net interest income after provision for loan losses $ 8,783 $ 8,575 $ 17,934 $ 17,788
Dividends, per share (in dollars per share) $ 0.56 $ 0.55 $ 0.56 $ 0.55
Noninterest Income        
Service charges on deposit accounts $ 692 $ 569 $ 1,357 $ 1,129
Other service charges and fees 41 46 110 118
Credit and debit card fees 1,019 969 1,917 1,839
Trust income 361 354 762 677
BOLI income 146 151 289 298
Other income 192 455 520 800
Realized securities gain, net 4 74 4 98
Total noninterest income 2,455 2,618 4,959 4,959
Noninterest Expense        
Salaries and employee benefits 3,438 2,907 6,981 6,475
Occupancy and furniture and fixtures 469 448 907 925
Data processing and ATM 541 595 1,106 1,006
FDIC assessment 91 145 186 286
Credit and debit card processing 725 712 1,380 1,334
Intangible assets amortization 12 68 43 178
Net costs of other real estate owned 55 39 84 108
Franchise taxes 329 322 651 653
Other operating expenses 1,038 1,002 2,297 1,957
Total noninterest expense 6,698 6,238 13,635 12,922
Income before income taxes 4,540 4,955 9,258 9,825
Income tax expense 970 1,090 2,039 2,181
Net Income $ 3,570 $ 3,865 $ 7,219 $ 7,644
Basic net income per common share (in dollars per share) $ 0.51 $ 0.56 $ 1.04 $ 1.10
Fully diluted net income per common share (in dollars per share) $ 0.51 $ 0.56 $ 1.04 $ 1.10
Weighted average number of common shares outstanding – basic and diluted (in shares) 6,957,974 6,957,974 6,957,974 6,957,974