XML 15 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Interest income:    
Loans, including fees $ 20,398 $ 19,188
Securities, taxable 2,877 2,774
Securities, exempt from Federal tax 566 579
Other investments and interest-bearing deposits in other financial institutions 856 521
Total interest income 24,697 23,062
Interest expense:    
Deposits 871 747
Short-term borrowings   11
Total interest expense 871 758
Net interest income before provision for loan losses 23,826 22,304
Provision (credit) for loan losses 321 401
Net interest income after provision for loan losses 23,505 21,903
Noninterest income:    
Service charges and fees on deposit accounts 740 767
Increase in cash surrender value of life insurance 422 449
Gain on sales of SBA loans 324 305
Servicing income 285 371
(Loss) gain on sales of securities (6) 180
Other 530 542
Total noninterest income 2,295 2,614
Noninterest expense:    
Salaries and employee benefits 9,486 8,947
Professional fees 1,071 825
Occupancy and equipment 1,068 1,085
Other 3,703 3,828
Total noninterest expense 15,328 14,685
Income before income taxes 10,472 9,832
Income tax expense 3,934 3,726
Net income 6,538 6,106
Dividends on preferred stock   (504)
Net income available to common shareholders 6,538 5,602
Undistributed earnings allocated to Series C preferred stock   (403)
Distributed and undistributed earnings allocated to common shareholders $ 6,538 $ 5,199
Earnings per common share:    
Basic (in dollars per share) $ 0.17 $ 0.16
Diluted (in dollars per share) $ 0.17 $ 0.16