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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
INTEREST AND DIVIDEND INCOME:        
Loans including fees $ 21,749 $ 18,459 $ 59,478 $ 53,294
Securities:        
Taxable 2,257 2,692 7,026 8,542
Tax-exempt 825 972 2,575 2,859
Dividends 127 114 418 489
Total interest and dividend income 24,958 22,237 69,497 65,184
INTEREST EXPENSE:        
Deposits 2,195 2,169 6,288 6,381
Borrowed funds 633 841 2,341 2,464
Subordinated debentures (includes $260 and $284 accumulated other comprehensive income reclassification for change in fair value of interest rate swap agreements in 2016 and 2015, respectively) 197 189 590 560
Total interest expense 3,025 3,199 9,219 9,405
NET INTEREST INCOME 21,933 19,038 60,278 55,779
PROVISION FOR LOAN LOSSES 622 463 2,038 1,892
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 21,311 18,575 58,240 53,887
NON-INTEREST INCOME:        
Wealth and asset management fees 795 711 2,298 2,228
Service charges on deposit accounts 1,162 1,171 3,149 3,282
Other service charges and fees 653 838 1,837 2,223
Net realized gains on available-for-sale securities (includes $0 and $73 accumulated other comprehensive income reclassifications for net realized gains on available-for-sale securities in 2016 and 2015, respectively) 0 73 1,005 564
Net realized and unrealized gains (losses) on trading securities 235 (260) 265 (321)
Mortgage banking 388 164 706 484
Bank owned life insurance 281 288 807 853
Card processing and interchange income 876 873 2,499 2,542
Other 81 136 501 523
Total non-interest income 4,471 3,994 13,067 12,378
NON-INTEREST EXPENSES:        
Salaries and benefits 8,506 7,572 23,905 21,710
Net occupancy expense 2,212 1,764 5,932 5,357
Amortization of core deposit intangible 347 259 779 777
Data processing 1,022 1,095 3,395 3,223
State and local taxes 595 474 1,645 1,498
Legal, professional, and examination fees 464 438 1,202 1,088
Advertising 427 414 1,306 1,167
FDIC insurance premiums 387 338 1,049 957
Prepayment penalties - long-term borrowings     1,506 0
Core processing conversion costs 42 0 1,597 0
Merger costs 266 0 481 0
Card processing and interchange expenses 587 579 1,670 1,725
Other 2,241 2,073 6,196 5,864
Total non-interest expenses 17,096 15,006 50,663 43,366
INCOME BEFORE INCOME TAXES 8,686 7,563 20,644 22,899
INCOME TAX EXPENSE (includes $262 and $98 income tax expense from reclassification items in 2016 and 2015, respectively) 2,270 2,041 5,144 6,210
NET INCOME $ 6,416 $ 5,522 $ 15,500 $ 16,689
EARNINGS PER SHARE:        
Basic $ 0.44 $ 0.38 $ 1.07 $ 1.16
Diluted 0.44 0.38 1.07 1.16
DIVIDENDS PER SHARE:        
Cash dividends per share $ 0.165 $ 0.165 $ 0.495 $ 0.495