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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
INTEREST INCOME        
Interest and fees on loans $ 11,771 $ 9,398 $ 31,762 $ 27,476
Interest and dividends on investment securities:        
Taxable 1,035 754 2,799 2,448
Tax-exempt   2 3 6
Interest on federal funds sold   1   6
Interest on deposits with other banks 131 81 269 211
Total interest income 12,937 10,236 34,833 30,147
INTEREST EXPENSE        
Interest on deposits 607 574 1,656 1,852
Interest on short-term borrowings 4 4 18 11
Total interest expense 611 578 1,674 1,863
NET INTEREST INCOME 12,326 9,658 33,159 28,284
Provision for credit losses 345 605 1,746 1,430
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 11,981 9,053 31,413 26,854
NONINTEREST INCOME        
Service charges on deposit accounts 945 899 2,657 2,582
Trust and investment fee income 389 358 1,122 1,073
Gains on sales of investment securities 5 30 5 31
Insurance agency commissions 2,088 2,054 6,939 6,754
Other noninterest income 998 666 2,688 2,149
Total noninterest income 4,425 4,007 13,411 12,589
NONINTEREST EXPENSE        
Salaries and wages 5,203 4,346 14,508 13,245
Employee benefits 1,197 1,009 3,564 3,087
Occupancy expense 696 643 1,950 1,839
Furniture and equipment expense 286 245 803 728
Data processing 922 976 2,809 2,639
Directors’ fees 99 120 281 355
Amortization of other intangible assets 115 33 203 99
FDIC insurance premium expense 189 104 398 654
Other real estate owned expense, net 136 2 299 75
Legal and professional 493 440 1,855 1,434
Other noninterest expenses 1,384 1,299 3,900 3,766
Total noninterest expense 10,720 9,217 30,570 27,921
INCOME BEFORE INCOME TAXES 5,686 3,843 14,254 11,522
Income tax expense 2,274 1,432 5,690 4,379
NET INCOME $ 3,412 $ 2,411 $ 8,564 $ 7,143
Basic net income per common share (in dollars per share) $ 0.27 $ 0.19 $ 0.68 $ 0.56
Diluted net income per common share (in dollars per share) 0.27 0.19 0.67 0.56
Dividends paid per common share (in dollars per share) $ 0.05 $ 0.03 $ 0.15 $ 0.09