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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Interest and dividend income:    
Loans, including fees $ 14,050 $ 12,499
Taxable securities 1,289 1,422
Tax exempt securities 308 238
Interest-bearing deposits 22 155
Total interest and dividend income 15,669 14,314
Interest expense:    
Deposits 501 538
Securities sold under agreements to repurchase 93 193
Borrowed funds 175 89
Total interest expense 769 820
Net interest income 14,900 13,494
Provision for loan losses 709 1,040
Net interest income after provision for loan losses 14,191 12,454
Non-interest income:    
WMG fee income 2,316 2,109
Service charges on deposit accounts 1,164 1,184
Interchange revenue from debit card transactions 1,035 920
Net gains on sales of loans held for sale 46 69
Net gains on sales of other real estate owned 44 17
Income from bank-owned life insurance 16 17
Other 854 531
Total non-interest income 5,475 4,847
Non-interest expenses:    
Salaries and wages 5,714 5,275
Pension and other employee benefits 1,658 1,551
Other components of net periodic pension and postretirement benefits (408) (333)
Net occupancy expenses 1,608 1,606
Furniture and equipment expenses 658 682
Data processing expense 1,742 1,604
Professional services 540 300
Amortization of intangible assets 194 226
Marketing and advertising expenses 349 249
Other real estate owned expenses 138 19
FDIC insurance 317 325
Loan expense 169 116
Other 1,487 1,425
Total non-interest expenses 14,166 13,045
Income before income tax expense 5,500 4,256
Income tax expense 1,061 1,277
Net income $ 4,439 $ 2,979
Weighted average shares outstanding (in shares) 4,822 4,790
Basic and diluted earnings per share (in dollars per share) $ 0.92 $ 0.62