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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest and Dividend Income        
Loans, including fees $ 15,085 $ 12,671 $ 44,294 $ 37,051
Interest and dividends on investment securities 1,311 988 3,617 2,907
Interest on deposits with banks 88 21 220 39
Total interest and dividend income 16,484 13,680 48,131 39,997
Interest Expense        
Deposits 2,835 1,563 7,196 4,234
Short-term borrowings 142 304 642 734
Long-term debt 746 805 2,231 2,414
Total interest expense 3,723 2,672 10,069 7,382
Net interest income 12,761 11,008 38,062 32,615
Provision for loan losses 40 224 940 980
Net interest income after provision for loan losses 12,721 10,784 37,122 31,635
Noninterest Income        
Loan appraisal, credit, and miscellaneous charges 81 28 141 84
Gain on sale of asset     1 47
Net gain on sale of investment securities       133
Unrealized loss on equity securities (8)   (86)  
Income from bank owned life insurance 227 196 677 581
Service charges 770 639 2,269 1,909
Gain on sale of loans held for sale   294   294
Total noninterest income 1,070 1,157 3,002 3,048
Noninterest Expense        
Salary and employee benefits 4,739 4,056 14,915 12,567
Occupancy expense 744 630 2,249 1,941
Advertising 165 156 504 404
Data processing expense 769 555 2,234 1,766
Professional fees 442 510 1,220 1,190
Merger and acquisition costs 11 239 3,620 494
Depreciation of premises and equipment 207 191 608 594
Telephone communications 62 46 230 142
Office supplies 31 26 112 86
FDIC insurance 185 178 496 505
OREO valuation allowance and expenses 165 283 516 587
Core deposit intangible amortization 193   597  
Other 779 572 2,607 2,039
Total noninterest expense 8,492 7,442 29,908 22,315
Income before income taxes 5,299 4,499 10,216 12,368
Income tax expense 1,441 1,717 2,802 4,701
Net income $ 3,858 $ 2,782 $ 7,414 $ 7,667
Earnings Per Common Share        
Basic (in dollars per share) $ 0.70 $ 0.60 $ 1.34 $ 1.66
Diluted (in dollars per share) 0.70 0.60 1.34 1.65
Cash dividends paid per common share (in dollars per share) $ 0.10 $ 0.10 $ 0.30 $ 0.30