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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
INTEREST INCOME:        
Interest and fees on loans $ 8,532 $ 7,091 $ 16,680 $ 14,095
Interest and dividends on securities:        
Taxable interest and dividends 1,010 956 2,021 1,859
Tax exempt interest 464 497 965 1,026
Interest on federal funds sold 16 30 39 41
TOTAL INTEREST INCOME 10,022 8,574 19,705 17,021
INTEREST EXPENSE:        
Interest on deposits 658 584 1,290 1,050
Interest on borrowed funds 148 142 320 299
TOTAL INTEREST EXPENSE 806 726 1,610 1,349
NET INTEREST INCOME 9,216 7,848 18,095 15,672
PROVISION FOR LOAN LOSSES 0 277 150 635
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 9,216 7,571 17,945 15,037
OTHER INCOME:        
Service charges on deposit accounts 1,097 1,053 2,148 2,037
Other service charges and fees 757 1,002 1,556 1,690
TOTAL OTHER INCOME 1,854 2,055 3,704 3,727
OTHER EXPENSES:        
Salaries and employee benefits 4,613 4,260 9,239 8,357
Occupancy and equipment 1,137 1,242 2,246 2,462
Other 2,342 1,882 4,425 3,792
TOTAL OTHER EXPENSES 8,092 7,384 15,910 14,611
INCOME BEFORE INCOME TAXES 2,978 2,242 5,739 4,153
INCOME TAXES 793 629 1,525 1,113
NET INCOME 2,185 1,613 4,214 3,040
PREFERRED STOCK ACCRETION AND DIVIDENDS 86 86 171 192
NET INCOME APPLICABLE TO COMMON STOCKHOLDERS $ 2,099 $ 1,527 $ 4,043 $ 2,848
NET INCOME APPLICABLE TO COMMON STOCKHOLDERS:        
BASIC $ 0.39 $ 0.30 $ 0.75 $ 0.55
DILUTED 0.39 0.29 0.75 0.55
DIVIDENDS PER SHARE - COMMON $ 0.0375 $ 0.0375 $ 0.075 $ 0.075