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Condensed 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 and dividend income:        
Loans, including fees $ 10,131 $ 8,135 $ 20,921 $ 17,062
Securities        
Taxable 536 491 1,024 979
Tax exempt 105 112 208 226
Dividends 94 73 186 147
Other Interest 123 102 388 269
10,989 8,913 22,727 18,683
Interest expense:        
Deposits 628 510 1,228 1,008
Other borrowed funds 229 147 445 272
Subordinated debentures 61 50 118 97
918 707 1,791 1,377
Net interest income 10,071 8,206 20,936 17,306
Provision for loan losses 175 141 320 620
Net interest income after provision for loan losses 9,896 8,065 20,616 16,686
Noninterest income:        
Service charges on deposit accounts 530 434 1,034 839
Trust fees 55 56 113 116
Income from bank owned life insurance and annuity assets 182 191 404 400
Mortgage banking income 50 61 105 118
Electronic refund check / deposit fees 291 270 1,667 2,024
Debit / credit card interchange income 863 625 1,643 1,211
Gain (loss) on other real estate owned (21) 13 (71) 8
Other 162 211 330 380
2,112 1,861 5,225 5,096
Noninterest expense:        
Salaries and employee benefits 5,145 4,528 10,509 9,098
Occupancy 448 405 882 834
Furniture and equipment 258 201 518 386
Professional fees 451 341 904 678
Marketing expense 257 248 512 495
FDIC insurance 109 148 267 297
Data processing 553 336 1,088 689
Software 378 302 737 594
Foreclosed assets 75 121 267 186
Amortization of intangibles 41 82
Merger related expenses 134 27 361
Other 2,161 1,009 3,458 2,124
9,876 7,773 19,251 15,742
Income before income taxes 2,132 2,153 6,590 6,040
Provision for income taxes 391 447 1,632 1,502
NET INCOME $ 1,741 $ 1,706 $ 4,958 $ 4,538
Earnings per share (in dollars per share) $ 0.37 $ 0.41 $ 1.06 $ 1.10