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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
INTEREST AND DIVIDEND INCOME:        
Loans including fees $ 18,459 $ 17,146 $ 53,294 $ 51,300
Securities:        
Taxable 2,692 3,340 8,542 10,030
Tax-exempt 972 941 2,859 2,777
Dividends 114 105 489 280
Total interest and dividend income 22,237 21,532 65,184 64,387
INTEREST EXPENSE:        
Deposits 2,169 2,081 6,381 6,230
Borrowed funds 841 825 2,464 2,436
Subordinated debentures (includes $284 and $287 accumulated other comprehensive income reclassification for change in fair value of interest rate swap agreements in 2015 and 2014, respectively) 189 186 560 558
Total interest expense 3,199 3,092 9,405 9,224
NET INTEREST INCOME 19,038 18,440 55,779 55,163
PROVISION FOR LOAN LOSSES 463 1,038 1,892 3,558
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 18,575 17,402 53,887 51,605
NON-INTEREST INCOME:        
Wealth and asset management fees 711 710 2,228 2,135
Service charges on deposit accounts 1,171 1,198 3,282 3,384
Other service charges and fees 838 762 2,223 2,000
Net realized gains on available-for-sale securities (includes $564 and $245 accumulated other comprehensive income reclassifications for net realized gains on available-for-sale securities in 2015 and 2014, respectively) 73 41 564 245
Net realized and unrealized (losses) gains on trading securities (260) (59) (321) 15
Mortgage banking 164 144 484 502
Bank owned life insurance 288 222 853 701
Other 430 478 1,340 1,233
Total non-interest income 3,415 3,496 10,653 10,215
NON-INTEREST EXPENSES:        
Salaries and benefits 7,572 6,562 21,710 19,840
Net occupancy expense 1,764 1,695 5,357 5,216
Amortization of core deposit intangible 259 302 777 906
Data processing 1,095 999 3,223 2,943
State and local taxes 474 461 1,498 1,477
Legal, professional, and examination fees 438 409 1,088 1,153
Advertising 414 368 1,167 1,110
FDIC insurance premiums 338 342 957 1,026
Merger costs     0 0
Other 2,073 2,012 5,864 5,348
Total non-interest expenses 14,427 13,150 41,641 39,019
INCOME BEFORE INCOME TAXES 7,563 7,748 22,899 22,801
INCOME TAX EXPENSE 2,041 2,200 6,210 6,470
NET INCOME $ 5,522 $ 5,548 $ 16,689 $ 16,331
EARNINGS PER SHARE:        
Basic $ 0.38 $ 0.39 $ 1.16 $ 1.13
Diluted 0.38 0.39 1.16 1.13
DIVIDENDS PER SHARE:        
Cash dividends per share $ 0.165 $ 0.165 $ 0.495 $ 0.495