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Consolidated Statements of Income (Unaudited) - 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:        
Interest and fees on loans $ 11,474 $ 9,864 $ 35,011 $ 29,398
Interest on federal funds sold 1 0 6 0
Interest and dividends on securities:        
Taxable 1,052 918 3,021 2,850
Tax-exempt 899 966 2,799 3,017
Dividends 91 72 258 221
Other interest income 25 32 123 100
Total interest and dividend income 13,542 11,852 41,218 35,586
Interest Expense:        
Interest on deposits 1,205 1,120 3,583 3,510
Interest on short-term borrowings 2 4 7 8
Interest on long-term borrowings 82 82 243 243
Interest on junior subordinated debt 192 186 564 555
Total interest expense 1,481 1,392 4,397 4,316
Net Interest Income 12,061 10,460 36,821 31,270
Provision for Loan Losses 0 0 700 150
Net Interest Income After Provision for Loan Losses 12,061 10,460 36,121 31,120
Noninterest Income:        
Trust fees 1,006 992 2,963 3,131
Service charges on deposit accounts 521 441 1,543 1,285
Other fees and commissions 592 479 1,787 1,416
Mortgage banking income 376 342 987 880
Gains on sales of securities 6 315 553 504
Other 554 412 1,636 1,168
Total noninterest income 3,055 2,981 9,469 8,384
Noninterest Expense:        
Salaries 4,179 3,714 12,634 10,890
Employee benefits 1,029 799 3,215 2,621
Occupancy and equipment 1,094 933 3,290 2,779
FDIC assessment 185 157 565 486
Bank franchise tax 220 216 675 669
Core deposit intangible amortization 300 227 901 888
Data processing 366 361 1,311 1,054
Software 290 248 850 745
Other real estate owned, net (126) 141 60 148
Acquisition related expense 87 268 1,948 268
Other 1,764 1,763 5,628 5,067
Total noninterest expense 9,388 8,827 31,077 25,615
Income Before Income Taxes 5,728 4,614 14,513 13,889
Income Taxes 1,691 1,446 4,081 4,038
Net Income $ 4,037 $ 3,168 $ 10,432 $ 9,851
Net Income Per Common Share:        
Basic (in dollars per share) $ 0.47 $ 0.40 $ 1.20 $ 1.25
Diluted (in dollars per share) $ 0.47 $ 0.40 $ 1.20 $ 1.25
Weighted Average Common Shares Outstanding:        
Basic (in shares) 8,668,618 7,841,078 8,698,394 7,871,016
Diluted (in shares) 8,676,571 7,851,735 8,706,870 7,881,441