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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 17,786 $ 16,048 $ 51,671 $ 46,941
Taxable securities 1,271 1,160 3,654 3,885
Tax exempt securities 1,232 893 3,473 2,681
Dividends 136 177 374 403
Federal funds sold and other interest income 126 54 271 119
TOTAL INTEREST AND DIVIDEND INCOME 20,551 18,332 59,443 54,029
INTEREST EXPENSE        
Deposits 1,182 858 3,213 2,358
Short-term borrowings 644 166 1,472 485
Long-term borrowings 50 115 179 357
TOTAL INTEREST EXPENSE 1,876 1,139 4,864 3,200
NET INTEREST INCOME 18,675 17,193 54,579 50,829
Provision for loan losses 950 1,110 2,950 2,880
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 17,725 16,083 51,629 47,949
NONINTEREST INCOME        
Service charges on deposit accounts 1,077 1,057 3,017 2,979
Bank owned life insurance income 193 194 585 608
Trust fees 1,608 1,693 4,809 4,753
Insurance agency commissions 531 569 1,877 1,001
Security gains (losses) 0 31 (1) 72
Retirement plan consulting fees 480 561 1,392 1,546
Investment commissions 184 308 659 900
Net gains on sale of loans 758 1,063 2,256 2,005
Debit card and EFT fees 770 653 2,259 1,936
Other operating income 457 356 1,147 1,368
TOTAL NONINTEREST INCOME 6,058 6,485 18,000 17,168
NONINTEREST EXPENSES        
Salaries and employee benefits 8,922 8,366 26,062 23,660
Occupancy and equipment 1,546 1,587 4,764 4,867
State and local taxes 436 394 1,277 1,181
Professional fees 726 671 2,248 1,954
Merger related costs 270 31 436 544
Advertising 405 383 966 1,091
FDIC insurance 235 287 704 856
Intangible amortization 379 421 1,108 1,093
Core processing charges 702 738 2,074 1,956
Telephone and data 249 206 732 655
Other operating expenses 1,921 2,141 5,797 6,595
TOTAL NONINTEREST EXPENSES 15,791 15,225 46,168 44,452
INCOME BEFORE INCOME TAXES 7,992 7,343 23,461 20,665
INCOME TAXES 2,009 1,967 5,985 5,471
NET INCOME $ 5,983 $ 5,376 $ 17,476 $ 15,194
EARNINGS PER SHARE - basic and diluted $ 0.22 $ 0.20 $ 0.64 $ 0.56