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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
INTEREST AND DIVIDEND INCOME:        
Loans including fees $ 19,043 $ 17,339 $ 37,729 $ 34,835
Securities:        
Taxable 2,414 2,911 4,769 5,850
Tax-exempt 867 949 1,750 1,887
Dividends 149 107 291 375
Total interest and dividend income 22,473 21,306 44,539 42,947
INTEREST EXPENSE:        
Deposits 2,077 2,165 4,093 4,212
Borrowed funds 794 805 1,708 1,623
Subordinated debentures (includes $176 and $189 accumulated other comprehensive income reclassification for change in fair value of interest rate swap agreements in 2016 and 2015, respectively) 199 185 393 371
Total interest expense 3,070 3,155 6,194 6,206
NET INTEREST INCOME 19,403 18,151 38,345 36,741
PROVISION FOR LOAN LOSSES 220 486 1,416 1,429
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 19,183 17,665 36,929 35,312
NON-INTEREST INCOME:        
Wealth and asset management fees 780 751 1,503 1,517
Service charges on deposit accounts 1,006 1,094 1,987 2,111
Other service charges and fees 624 761 1,184 1,385
Net realized gains on available-for-sale securities (includes $1,005 and $472 accumulated other comprehensive income reclassifications for net realized gains on available-for-sale securities in 2016 and 2015, respectively) 1,005 472 1,005 491
Net realized and unrealized gains (losses) on trading securities 64 (29) 30 (61)
Mortgage banking 147 207 318 320
Bank owned life insurance 263 289 526 565
Other 481 596 960 910
Total non-interest income 4,370 4,141 7,513 7,238
NON-INTEREST EXPENSES:        
Salaries and benefits 7,908 7,506 15,399 14,138
Net occupancy expense 1,881 1,794 3,720 3,593
Amortization of core deposit intangible 217 259 432 518
Data processing 1,121 1,091 2,373 2,128
State and local taxes 558 474 1,050 1,024
Legal, professional, and examination fees 364 338 738 650
Advertising 395 419 879 753
FDIC insurance premiums 340 323 662 619
Prepayment penalties - long-term borrowings 1,506 0 1,506 0
Core processing conversion costs 1,488 0 1,555 0
Merger costs 173 0 215 0
Other 2,353 1,917 3,955 3,791
Total non-interest expenses 18,304 14,121 32,484 27,214
INCOME BEFORE INCOME TAXES 5,249 7,685 11,958 15,336
INCOME TAX EXPENSE (includes ($291) and ($106) income tax expense from reclassification items in 2016 and 2015, respectively) 1,184 2,083 2,874 4,169
NET INCOME $ 4,065 $ 5,602 $ 9,084 $ 11,167
EARNINGS PER SHARE:        
Basic $ 0.28 $ 0.39 $ 0.63 $ 0.77
Diluted 0.28 0.39 0.63 0.77
DIVIDENDS PER SHARE:        
Cash dividends per share $ 0.165 $ 0.165 $ 0.33 $ 0.33