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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
INTEREST INCOME    
Loans and loan fees $ 17,222 $ 14,569
U.S. Government agency obligations 418 541
Obligations of states and political subdivisions 994 1,335
Collateralized mortgage obligations 79 182
Mortgage-backed securities 464 445
Corporate bonds 146 38
Federal funds sold, securities purchased under agreements to resell and interest-bearing deposits due from banks 29 23
Dividends 75 60
Total interest income 19,427 17,193
INTEREST EXPENSE    
Savings, N.O.W. and money market deposits 513 274
Time deposits 348 294
Borrowings 242 108
Total interest expense 1,103 676
Net interest income 18,324 16,517
Provision for loan losses 250 250
Net interest income after provision for loan losses 18,074 16,267
NON-INTEREST INCOME    
Service charges on deposit accounts 776 747
Other service charges, commissions and fees 611 593
Net gain on sale of securities available for sale 6 26
Net gain on sale of portfolio loans 0 198
Net gain on sale of mortgage loans originated for sale 74 144
Income from bank-owned life insurance 346 309
Other operating income 79 74
Total non-interest income 1,892 2,091
OPERATING EXPENSES    
Employee compensation and benefits 8,666 8,606
Occupancy expense 1,442 1,462
Equipment expense 386 385
Consulting and professional services 483 338
FDIC assessment 293 290
Data processing 179 570
Other operating expenses 1,703 1,457
Total operating expenses 13,152 13,108
Income before income tax expense 6,814 5,250
Income tax expense 1,976 1,241
NET INCOME $ 4,838 $ 4,009
EARNINGS PER COMMON SHARE - BASIC (in dollars per share) $ 0.41 $ 0.34
EARNINGS PER COMMON SHARE - DILUTED (in dollars per share) $ 0.41 $ 0.34
WEIGHTED AVERAGE COMMON SHARES - BASIC (in shares) 11,829,195 11,694,427
WEIGHTED AVERAGE COMMON SHARES - DILUTED (in shares) 11,900,808 11,763,099