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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest and dividend income:        
Loans, including fees $ 14,300 $ 12,817 $ 28,350 $ 25,316
Taxable securities 1,264 1,398 2,553 2,820
Tax exempt securities 295 276 603 514
Interest-earning deposits 10 193 32 348
Total interest and dividend income 15,869 14,684 31,538 28,998
Interest expense:        
Deposits 608 549 1,109 1,087
Securities sold under agreements to repurchase 44 95 137 288
Borrowed funds 200 90 375 179
Total interest expense 852 734 1,621 1,554
Net interest income 15,017 13,950 29,917 27,444
Provision for loan losses 2,362 421 3,071 1,461
Net interest income after provision for loan losses 12,655 13,529 26,846 25,983
Non-interest income:        
Financial services revenue 59 53 105 122
Net gains (losses) on sales of other real estate owned (48) (9) (4) 8
Income from bank-owned life insurance 17 18 33 35
Other 784 490 1,638 1,021
Total non-interest income 5,325 5,022 10,800 9,869
Non-interest expenses:        
Salaries and wages 5,564 5,422 11,278 10,697
Pension and other employee benefits 1,518 1,540 3,176 3,091
Other components of net periodic pension and postretirement benefits (408) (333) (816) (666)
Net occupancy expenses 1,643 1,702 3,251 3,308
Furniture and equipment expenses 702 781 1,360 1,462
Data processing expense 1,764 1,587 3,506 3,191
Professional services 508 417 1,048 717
Legal accruals and settlements 989 850 989 850
Amortization of intangible assets 182 213 376 439
Marketing and advertising expenses 255 118 604 367
Other real estate owned expenses 100 11 238 31
FDIC insurance 301 309 618 634
Loan expense 184 166 353 282
Other 1,665 1,549 3,152 2,974
Total non-interest expenses 14,967 14,332 29,133 27,377
Income before income tax expense 3,013 4,219 8,513 8,475
Income tax expense 486 1,263 1,547 2,540
Net income $ 2,527 $ 2,956 $ 6,966 $ 5,935
Weighted average shares outstanding (in shares) 4,828 4,797 4,825 4,793
Basic and diluted earnings per share (in dollars per share) $ 0.52 $ 0.62 $ 1.44 $ 1.24
WMG fee income        
Non-interest income:        
Revenue from contract with customer, including assessed tax $ 2,373 $ 2,269 $ 4,689 $ 4,378
Service charge on deposits        
Non-interest income:        
Revenue from contract with customer, including assessed tax 1,144 1,225 2,308 2,409
Interchange revenue from debit card transactions        
Non-interest income:        
Revenue from contract with customer, including assessed tax 996 964 2,031 1,884
Sale of securities        
Non-interest income:        
Revenue from contract with customer, including assessed tax 0 12 0 12
Financial services revenue   12   12
Net gains on sales of loans        
Non-interest income:        
Financial services revenue 59 53 105 122
Net gains (losses) on sales of OREO        
Non-interest income:        
Net gains (losses) on sales of other real estate owned (48) (9) (4) 8
Core Banking        
Non-interest income:        
Total non-interest income 2,822 2,634 6,005 5,239
Core Banking | WMG fee income        
Non-interest income:        
Revenue from contract with customer, including assessed tax 0 0 0 0
Core Banking | Interchange revenue from debit card transactions        
Non-interest income:        
Revenue from contract with customer, including assessed tax 996 964 2,031 1,884
Core Banking | Sale of securities        
Non-interest income:        
Financial services revenue   12   12
Core Banking | Net gains on sales of loans        
Non-interest income:        
Financial services revenue 59 53 105 122
Core Banking | Net gains (losses) on sales of OREO        
Non-interest income:        
Net gains (losses) on sales of other real estate owned $ (48) $ (9) $ (4) $ 8