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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 16,038,000 $ 14,623,000 $ 31,706,000 $ 28,780,000
Securities:        
Taxable 1,028,000 929,000 1,999,000 1,832,000
Tax-exempt 38,000 59,000 82,000 124,000
Dividends 81,000 74,000 175,000 152,000
Other 270,000 179,000 378,000 231,000
Total Interest Income 17,455,000 15,864,000 34,340,000 31,119,000
INTEREST EXPENSE        
Deposits 1,971,000 1,206,000 3,656,000 2,340,000
Short-term borrowings 21,000 11,000 52,000 27,000
Long-term borrowings 493,000 556,000 997,000 1,099,000
Total Interest Expense 2,485,000 1,773,000 4,705,000 3,466,000
Net Interest Income 14,970,000 14,091,000 29,635,000 27,653,000
PROVISION FOR LOAN LOSSES 125,000 320,000 275,000 570,000
Net Interest Income after Provision for Loan Losses 14,845,000 13,771,000 29,360,000 27,083,000
OTHER INCOME        
Earnings on investment in bank-owned life insurance 309,000 281,000 573,000 538,000
Gain on life insurance proceeds 0 0 0 52,000
Net gains on sales of securities 0 12,500 0 12,500
Net gains (losses) on equity securities 129,000 6,000 162,000 (27,000)
Commissions from insurance sales 1,914,000 1,707,000 3,234,000 2,908,000
Other 289,000 327,000 544,000 645,000
Total Other Income 4,820,000 4,317,000 8,760,000 8,029,000
OTHER EXPENSES        
Salaries and employee benefits 7,189,000 6,683,000 14,154,000 13,310,000
Net occupancy 734,000 720,000 1,597,000 1,499,000
Equipment 1,219,000 1,321,000 2,322,000 2,483,000
Other tax 274,000 235,000 536,000 441,000
Professional services 283,000 344,000 483,000 713,000
Supplies and postage 178,000 177,000 384,000 392,000
Marketing and corporate relations 171,000 165,000 310,000 268,000
FDIC and regulatory 160,000 164,000 329,000 348,000
Intangible assets amortization 158,000 182,000 313,000 366,000
Foreclosed real estate (income) expenses (3,000) 84,000 (56,000) 132,000
Other operating 1,322,000 1,176,000 2,574,000 2,285,000
Total Other Expenses 11,685,000 11,251,000 22,946,000 22,237,000
Income before Income Taxes 7,980,000 6,837,000 15,174,000 12,875,000
PROVISION FOR INCOME TAXES 1,514,000 1,330,000 2,844,000 2,455,000
Net Income $ 6,466,000 $ 5,507,000 $ 12,330,000 $ 10,420,000
PER SHARE DATA        
Basic earnings (in dollars per share) $ 0.92 $ 0.78 $ 1.75 $ 1.48
Cash dividends declared (in dollars per share) $ 0.25 $ 0.23 $ 0.48 $ 0.43
Service charges on deposit accounts        
OTHER INCOME        
Revenue from contract with customer, excluding assessed tax $ 946,000 $ 810,000 $ 1,884,000 $ 1,626,000
Income from fiduciary, investment management and brokerage activities        
OTHER INCOME        
Revenue from contract with customer, excluding assessed tax 598,000 559,000 1,190,000 1,130,000
Service charges on ATM and debit card transactions        
OTHER INCOME        
Revenue from contract with customer, excluding assessed tax $ 635,000 $ 614,000 $ 1,173,000 $ 1,144,000