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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 22,684 $ 20,531 $ 66,477 $ 58,503
Taxable securities 1,196 1,226 3,678 3,687
Tax exempt securities 1,695 1,461 4,928 4,172
Dividends 151 167 497 467
Federal funds sold and other interest income 205 178 559 490
TOTAL INTEREST AND DIVIDEND INCOME 25,931 23,563 76,139 67,319
INTEREST EXPENSE        
Deposits 4,705 2,242 12,499 5,376
Short-term borrowings 289 1,353 2,151 3,374
Long-term borrowings 180 49 276 142
TOTAL INTEREST EXPENSE 5,174 3,644 14,926 8,892
NET INTEREST INCOME 20,757 19,919 61,213 58,427
Provision for loan losses 550 950 1,850 2,475
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 20,207 18,969 59,363 55,952
NONINTEREST INCOME        
Bank owned life insurance income 204 219 626 660
Security gains (losses), including fair value changes for equity securities 22 (34) 14 11
Net gains on sale of loans 1,143 804 2,869 1,897
Other operating income 621 387 1,547 1,086
TOTAL NONINTEREST INCOME 7,441 6,478 20,955 18,794
NONINTEREST EXPENSES        
Salaries and employee benefits 9,422 8,966 28,044 26,532
Occupancy and equipment 1,615 1,597 4,982 4,912
State and local taxes 468 475 1,410 1,413
Professional fees 654 687 2,335 2,122
Merger related costs 112 0 93 25
Advertising 437 489 1,129 1,143
FDIC insurance 80 218 252 665
Intangible amortization 326 354 980 1,063
Core processing charges 900 778 2,494 2,311
Telephone and data 236 298 713 773
Other operating expenses 2,173 2,318 6,672 5,775
TOTAL NONINTEREST EXPENSES 16,423 16,180 49,104 46,734
INCOME BEFORE INCOME TAXES 11,225 9,267 31,214 28,012
INCOME TAXES 2,071 1,183 5,129 4,129
NET INCOME $ 9,154 $ 8,084 $ 26,085 $ 23,883
EARNINGS PER SHARE - basic $ 0.33 $ 0.29 $ 0.94 $ 0.86
EARNINGS PER SHARE - fully diluted $ 0.33 $ 0.29 $ 0.94 $ 0.85
Service Charges on Deposit Accounts        
NONINTEREST INCOME        
Noninterest income $ 1,208 $ 1,151 $ 3,375 $ 3,139
Trust Fees        
NONINTEREST INCOME        
Noninterest income 1,905 1,827 5,584 5,374
Insurance Agency Commissions        
NONINTEREST INCOME        
Noninterest income 681 567 2,223 1,979
Retirement Plan Consulting Fees        
NONINTEREST INCOME        
Noninterest income 338 470 1,146 1,314
Investment Commissions        
NONINTEREST INCOME        
Noninterest income 384 273 971 844
Debit Card and EFT Fees        
NONINTEREST INCOME        
Noninterest income $ 935 $ 814 $ 2,600 $ 2,490