XML 17 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
INTEREST INCOME:      
Interest and fees on loans $ 36,571 $ 35,600 $ 35,285
Interest on investment securities:      
Taxable 4,328 4,582 4,197
Non-taxable 3,130 3,199 2,848
Other investments 434 369 329
TOTAL INTEREST INCOME 44,463 43,750 42,659
INTEREST EXPENSE:      
Interest on deposits 3,378 3,440 3,009
Interest on short-term borrowings 209 38 24
Interest on long-term debt 12 26 295
TOTAL INTEREST EXPENSE 3,599 3,504 3,328
NET INTEREST INCOME 40,864 40,246 39,331
PROVISION FOR LOAN LOSSES 215 913 1,366
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 40,649 39,333 37,965
NON-INTEREST INCOME:      
Fiduciary income 3,473 3,286 3,262
Service charges and fees on deposit accounts 5,236 5,008 4,920
Net gains on sales of securities 233 1,082 495
Bank owned life insurance income 867 746 625
Net gains from sales of loans 166 244 343
Other operating income 483 487 478
TOTAL NON-INTEREST INCOME 10,458 10,853 10,123
NON-INTEREST EXPENSE:      
Salaries and employee benefits 18,585 18,215 17,593
Equipment expenses 1,172 1,048 1,257
Occupancy expense, net 2,613 2,271 2,307
State financial institutions tax 1,137 1,114 1,001
Marketing 873 696 720
Amortization of intangibles 751 753 700
FDIC premiums 423 547 598
ATM expense 572 721 698
Computer maintenance and supplies 882 790 782
Telephone expense 735 746 707
Contracted services 1,255 1,033 842
Other real estate owned 10 624 489
Merger-related expenses 118 0 643
Other non-interest expense 4,737 4,703 4,055
TOTAL NON-INTEREST EXPENSE 33,863 33,261 32,392
INCOME BEFORE INCOME TAXES 17,244 16,925 15,696
PROVISION FOR INCOME TAXES 4,272 4,443 4,222
NET INCOME $ 12,972 $ 12,482 $ 11,474
Earnings per common share:      
Basic (in dollars per share) $ 1.30 $ 1.26 $ 1.18
Diluted (in dollars per share) $ 1.29 $ 1.25 $ 1.17
Weighted average common shares outstanding:      
Basic (in shares) 10,005,575 9,948,057 9,704,965
Diluted (in shares) 10,012,511 9,976,370 9,811,467