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Consolidated 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 AND DIVIDEND INCOME        
Loans, including fees $ 15,623 $ 8,634 $ 30,893 $ 16,318
Taxable securities 1,288 1,405 2,725 3,052
Tax exempt securities 899 662 1,788 1,277
Dividends 113 46 226 94
Federal funds sold and other interest income 27 6 65 11
TOTAL INTEREST AND DIVIDEND INCOME 17,950 10,753 35,697 20,752
INTEREST EXPENSE        
Deposits 793 879 1,500 1,766
Short-term borrowings 144 16 319 27
Long-term borrowings 124 109 242 218
TOTAL INTEREST EXPENSE 1,061 1,004 2,061 2,011
NET INTEREST INCOME 16,889 9,749 33,636 18,741
Provision for loan losses 990 850 1,770 1,300
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 15,899 8,899 31,866 17,441
NONINTEREST INCOME        
Service charges on deposit accounts 987 672 1,922 1,275
Bank owned life insurance income 202 165 414 304
Trust fees 1,564 1,509 3,060 3,156
Insurance agency commissions 293 118 432 264
Security gains 41 35 41 45
Retirement plan consulting fees 496 778 985 1,282
Investment commissions 356 256 592 554
Net gains on sale of loans 540 156 942 279
Debit card interchange fees 657 312 1,283 593
Other operating income 601 408 1,012 694
TOTAL NONINTEREST INCOME 5,737 4,409 10,683 8,446
NONINTEREST EXPENSES        
Salaries and employee benefits 7,740 5,663 15,294 11,205
Occupancy and equipment 1,616 1,201 3,280 2,312
State and local taxes 394 243 787 488
Professional fees 754 546 1,283 1,022
Merger related costs 224 1,912 513 2,157
Advertising 363 282 708 499
FDIC insurance 286 178 569 355
Intangible amortization 335 167 672 334
Core processing charges 580 382 1,218 763
Other operating expenses 2,491 1,513 4,903 2,703
TOTAL NONINTEREST EXPENSES 14,783 12,087 29,227 21,838
INCOME BEFORE INCOME TAXES 6,853 1,221 13,322 4,049
INCOME TAXES 1,833 409 3,504 1,026
NET INCOME $ 5,020 $ 812 $ 9,818 $ 3,023
EARNINGS PER SHARE - basic and diluted $ 0.19 $ 0.04 $ 0.36 $ 0.16