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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
INTEREST INCOME:    
Interest and fees on loans $ 10,090 $ 7,733
Interest on deposits in other banks 75 74
Interest and dividends on investment securities:    
Taxable 1,303 1,523
Exempt from Federal income taxes 2,122 1,523
Total interest income 13,590 10,853
INTEREST EXPENSE:    
Interest on deposits 245 221
Interest on junior subordinated deferrable interest debentures 33 29
Other 4 0
Total interest expense 282 250
Net interest income before provision for credit losses 13,308 10,603
(REVERSAL OF) PROVISION FOR CREDIT LOSSES (100) (250)
Net interest income after provision for credit losses 13,408 10,853
NON-INTEREST INCOME:    
Service charges 798 749
Appreciation in cash surrender value of bank-owned life insurance 148 145
Interchange fees 324 279
Net realized gains on sales of investment securities 482 1,130
Other-than-temporary impairment loss on investment securities 0 (136)
Federal Home Loan Bank dividends 128 97
Loan placement fees 91 191
Other income 275 249
Total non-interest income 2,246 2,704
NON-INTEREST EXPENSES:    
Salaries and employee benefits 5,855 5,254
Occupancy and equipment 1,179 1,207
Professional services 420 336
Data processing 424 347
Regulatory assessments 175 143
ATM/Debit card expenses 166 122
License and maintenance contracts 146 132
Directors’ expenses 229 171
Advertising 170 159
Internet banking expense 169 161
Amortization of core deposit intangibles 47 34
Other 1,133 910
Total non-interest expenses 10,113 8,976
Income before provision for income taxes 5,541 4,581
Provision for income taxes 1,291 1,178
Net income $ 4,250 $ 3,403
Earnings per common share:    
Basic earnings per common share (in dollars per share) $ 0.35 $ 0.31
Weighted average common shares used in basic computation (in shares) 12,167,810 10,953,845
Diluted earnings per common share (in dollars per share) $ 0.35 $ 0.31
Weighted average common shares used in diluted computation (in shares) 12,317,579 11,040,790
Cash dividend per common share (in dollars per share) $ 0.06 $ 0.06