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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
INTEREST INCOME:        
Interest and fees on loans $ 8,823 $ 8,892 $ 17,738 $ 17,519
Interest on investment securities:        
Taxable 1,149 1,187 2,242 2,376
Non-taxable 795 794 1,594 1,552
Other investments 167 135 224 182
TOTAL INTEREST INCOME 10,934 11,008 21,798 21,629
INTEREST EXPENSE:        
Interest on deposits 846 870 1,689 1,693
Interest on short-term borrowings 12 8 42 22
Interest on long-term debt 3 5 7 17
TOTAL INTEREST EXPENSE 861 883 1,738 1,732
NET INTEREST INCOME 10,073 10,125 20,060 19,897
PROVISION FOR LOAN LOSSES 222 396 237 486
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 9,851 9,729 19,823 19,411
NON-INTEREST INCOME:        
Trust income 881 837 1,733 1,600
Service charges and fees on deposit accounts 1,312 1,243 2,534 2,436
Net gain on sales of securities 140 279 140 650
Bank owned life insurance income 297 191 486 360
Gains from sales of loans 63 61 102 102
Other operating income 97 139 225 244
TOTAL NON-INTEREST INCOME 2,790 2,750 5,220 5,392
NON-INTEREST EXPENSE:        
Salaries and employee benefits 4,703 4,532 9,229 9,095
Equipment expenses 264 239 475 488
Occupancy expense, net 636 588 1,204 1,157
State franchise tax 286 276 570 557
Marketing 216 201 359 368
Amortization of intangibles 188 188 373 375
FDIC insurance premiums 108 162 212 327
Contracted services 375 223 623 450
Other real estate owned 0 356 5 385
Other non-interest expense 1,835 1,703 3,529 3,558
TOTAL NON-INTEREST EXPENSE 8,611 8,468 16,579 16,760
INCOME BEFORE INCOME TAXES 4,030 4,011 8,464 8,043
PROVISION FOR INCOME TAXES 1,027 1,043 2,215 2,111
NET INCOME $ 3,003 $ 2,968 $ 6,249 $ 5,932
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 0.30 0.62 0.60
Diluted (usd per share) $ 0.30 $ 0.29 $ 0.62 $ 0.59
Weighted average common shares outstanding:        
Basic (in shares) 10,004,422 9,922,024 9,999,765 9,919,070
Diluted (in shares) 10,011,312 9,940,323 10,007,192 9,969,302