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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
INTEREST AND DIVIDEND INCOME:        
Loans including fees $ 17,339 $ 17,069 $ 34,835 $ 34,154
Securities:        
Taxable 2,911 3,350 5,850 6,690
Tax-exempt 949 927 1,887 1,836
Dividends 107 72 375 175
Total interest and dividend income 21,306 21,418 42,947 42,855
INTEREST EXPENSE:        
Deposits 2,165 2,077 4,212 4,149
Borrowed funds 805 713 1,623 1,611
Subordinated debentures (includes $189 and $191 accumulated other comprehensive income reclassification for change in fair value of interest rate swap agreements in 2015 and 2014, respectively) 185 185 371 372
Total interest expense 3,155 2,975 6,206 6,132
NET INTEREST INCOME 18,151 18,443 36,741 36,723
PROVISION FOR LOAN LOSSES 486 1,501 1,429 2,520
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 17,665 16,942 35,312 34,203
NON-INTEREST INCOME:        
Wealth and asset management fees 751 753 1,517 1,425
Service charges on deposit accounts 1,094 1,145 2,111 2,186
Other service charges and fees 761 670 1,385 1,238
Net realized gains on available-for-sale securities (includes $472 and $138 accumulated other comprehensive income reclassifications for net realized gains on available-for-sale securities in 2015 and 2014, respectively) 472 138 491 204
Net realized and unrealized gains (losses) on trading securities (29) 99 (61) 74
Mortgage banking 207 183 320 358
Bank owned life insurance 289 239 565 479
Other 596 287 910 755
Total non-interest income 4,141 3,514 7,238 6,719
NON-INTEREST EXPENSES:        
Salaries and benefits 7,506 6,443 14,138 13,278
Net occupancy expense 1,794 1,760 3,593 3,521
Amortization of core deposit intangible 259 301 518 604
Data processing 1,091 841 2,128 1,944
State and local taxes 474 454 1,024 1,016
Legal, professional, and examination fees 338 302 650 744
Advertising 419 431 753 742
FDIC insurance premiums 323 344 619 684
Other 1,917 1,732 3,791 3,336
Total non-interest expenses 14,121 12,608 27,214 25,869
INCOME BEFORE INCOME TAXES 7,685 7,848 15,336 15,053
INCOME TAX EXPENSE (includes ($106) and ($5) income tax expense from reclassification items in 2015 and 2014, respectively) 2,083 2,231 4,169 4,270
NET INCOME $ 5,602 $ 5,617 $ 11,167 $ 10,783
EARNINGS PER SHARE:        
Basic $ 0.39 $ 0.39 $ 0.77 $ 0.75
Diluted 0.39 0.39 0.77 0.75
DIVIDENDS PER SHARE:        
Cash dividends per share $ 0.165 $ 0.165 $ 0.33 $ 0.33