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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
INTEREST INCOME        
Interest and fees on loans $ 9,398 $ 8,912 $ 27,476 $ 25,984
Interest and dividends on investment securities:        
Taxable 754 892 2,448 2,748
Tax-exempt 2 2 6 8
Interest on federal funds sold 1 1 6 2
Interest on deposits with other banks 81 30 211 82
Total interest income 10,236 9,837 30,147 28,824
INTEREST EXPENSE        
Interest on deposits 574 824 1,852 2,581
Interest on short-term borrowings 4 3 11 11
Total interest expense 578 827 1,863 2,592
NET INTEREST INCOME 9,658 9,010 28,284 26,232
Provision for credit losses 605 410 1,430 1,600
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 9,053 8,600 26,854 24,632
NONINTEREST INCOME        
Service charges on deposit accounts 899 769 2,582 2,061
Trust and investment fee income 358 360 1,073 1,279
Insurance agency commissions 2,054 2,107 6,754 6,514
Other noninterest income 696 669 2,180 1,924
Total noninterest income 4,007 3,905 12,589 11,778
NONINTEREST EXPENSE        
Salaries and wages 4,346 4,468 13,245 13,174
Employee benefits 1,009 935 3,087 3,015
Occupancy expense 643 600 1,839 1,837
Furniture and equipment expense 245 223 728 711
Data processing 976 800 2,639 2,451
Directors’ fees 120 117 355 356
Amortization of other intangible assets 33 34 99 100
FDIC insurance premium expense 104 243 654 933
Write-downs of other real estate owned 2 7 75 88
Legal and professional fees 440 641 1,434 1,940
Other noninterest expenses 1,299 1,328 3,766 3,795
Total noninterest expense 9,217 9,396 27,921 28,400
INCOME BEFORE INCOME TAXES 3,843 3,109 11,522 8,010
Income tax expense 1,432 1,200 4,379 3,065
NET INCOME $ 2,411 $ 1,909 $ 7,143 $ 4,945
Basic net income per common share (in dollars per share) $ 0.19 $ 0.15 $ 0.56 $ 0.39
Diluted net income per common share (in dollars per share) 0.19 0.15 0.56 0.39
Dividends paid per common share (in dollars per share) $ 0.03 $ 0.02 $ 0.09 $ 0.02