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Consolidated Statement of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
INTEREST AND DIVIDEND INCOME        
Interest and fees on loans $ 11,234,000 $ 9,916,000 $ 22,288,000 $ 19,096,000
Interest-bearing deposits in other institutions 115,000 92,000 234,000 141,000
Federal funds sold 7,000 1,000 21,000 4,000
Investment securities:        
Taxable interest 170,000 223,000 339,000 441,000
Tax-exempt interest 550,000 630,000 1,075,000 1,267,000
Dividends on stock 53,000 40,000 112,000 152,000
Total interest and dividend income 12,129,000 10,902,000 24,069,000 21,101,000
INTEREST EXPENSE        
Deposits 1,973,000 1,227,000 3,613,000 2,352,000
Short-term borrowings 192,000 273,000 468,000 450,000
Other borrowings 118,000 125,000 240,000 265,000
Total interest expense 2,283,000 1,625,000 4,321,000 3,067,000
NET INTEREST INCOME 9,846,000 9,277,000 19,748,000 18,034,000
Provision for loan losses 210,000 170,000 420,000 335,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 9,636,000 9,107,000 19,328,000 17,699,000
NONINTEREST INCOME        
Investment securities gains on sale, net [1] 488,000
Gain on equity securities [1] 13,000 31,000
Earnings on bank-owned life insurance [1] 98,000 98,000 210,000 207,000
Gain on sale of loans [1] 117,000 231,000 121,000 465,000
Total noninterest income 1,005,000 989,000 1,791,000 2,500,000
NONINTEREST EXPENSE        
Salaries and employee benefits 3,866,000 3,203,000 7,845,000 6,899,000
Occupancy expense 472,000 433,000 1,008,000 921,000
Equipment expense 201,000 266,000 434,000 547,000
Data processing costs 402,000 588,000 879,000 908,000
Ohio state franchise tax 244,000 186,000 359,000 372,000
Federal deposit insurance expense 150,000 135,000 300,000 203,000
Professional fees 327,000 423,000 772,000 796,000
Advertising expense 230,000 164,000 458,000 412,000
Software amortization expense 155,000 80,000 305,000 162,000
Core deposit intangible amortization 87,000 103,000 178,000 175,000
Merger expense 307,000 694,000
Other expense 929,000 816,000 1,870,000 1,882,000
Total noninterest expense 7,063,000 6,704,000 14,408,000 13,971,000
Income before income taxes 3,578,000 3,392,000 6,711,000 6,228,000
Income taxes 481,000 885,000 1,009,000 1,621,000
NET INCOME $ 3,097,000 $ 2,507,000 $ 5,702,000 $ 4,607,000
EARNINGS PER SHARE        
Basic (in dollars per share) $ 0.96 $ 0.84 $ 1.77 $ 1.62
Diluted (in dollars per share) 0.96 0.83 1.76 1.61
DIVIDENDS DECLARED PER SHARE (in dollars per share) $ 0.28 $ 0.27 $ 0.61 $ 0.54
Deposit Account [Member]        
NONINTEREST INCOME        
Noninterest income revenue $ 472,000 $ 449,000 $ 925,000 $ 918,000
Financial Service, Other [Member]        
NONINTEREST INCOME        
Noninterest income revenue $ 305,000 $ 211,000 $ 504,000 $ 422,000
[1] Not within scope of ASC 606.