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CONSOLIDATED CONDENSED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
INTEREST INCOME:        
Interest and fees on loans $ 8,892 $ 9,492 $ 17,519 $ 18,032
Interest on investment securities:        
Taxable 1,187 1,033 2,376 1,889
Non-taxable 794 702 1,552 1,355
Other investments 135 121 182 162
TOTAL INTEREST INCOME 11,008 11,348 21,629 21,438
INTEREST EXPENSE:        
Interest on deposits 870 671 1,693 1,353
Interest on short-term borrowings 8 4 22 8
Interest on long-term debt 5 73 17 149
TOTAL INTEREST EXPENSE 883 748 1,732 1,510
NET INTEREST INCOME 10,125 10,600 19,897 19,928
PROVISION FOR LOAN LOSSES 396 677 486 746
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 9,729 9,923 19,411 19,182
NON-INTEREST INCOME:        
Trust income 837 852 1,600 1,652
Service charges and fees on deposit accounts 1,243 1,234 2,436 2,341
Net gain on sales of securities 279 221 650 332
Bank owned life insurance income 191 155 360 314
Gains from sales of loans 61 219 102 254
Other operating income 139 150 244 244
TOTAL NON-INTEREST INCOME 2,750 2,831 5,392 5,137
NON-INTEREST EXPENSE:        
Salaries and employee benefits 4,532 4,381 9,095 8,671
Equipment expenses 239 302 488 590
Occupancy expense, net 588 584 1,157 1,179
State franchise tax 276 250 557 502
Marketing 201 220 368 383
Amortization of intangibles 188 175 375 321
FDIC insurance premiums 162 145 327 296
Other real estate owned 356 20 385 55
Merger-related expenses 0 522 0 592
Other non-interest expense 1,926 1,827 4,008 3,486
TOTAL NON-INTEREST EXPENSE 8,468 8,426 16,760 16,075
INCOME BEFORE INCOME TAXES 4,011 4,328 8,043 8,244
PROVISION FOR INCOME TAXES 1,043 1,205 2,111 2,287
NET INCOME $ 2,968 $ 3,123 $ 5,932 $ 5,957
Dividends declared per common share (usd per share) $ 0.16 $ 0.16 $ 0.32 $ 0.32
Earnings per common share:        
Basic (usd per share) 0.30 0.33 0.60 0.63
Diluted (usd per share) $ 0.29 $ 0.32 $ 0.59 $ 0.62
Weighted average common shares outstanding:        
Basic (in shares) 9,922,024 9,694,732 9,919,070 9,504,739
Diluted (in shares) 9,943,797 9,804,728 9,971,900 9,609,050