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Condensed Consolidated Statements of Income & Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest Income        
Loans, including fees $ 9,547 $ 8,629 $ 27,367 $ 24,997
Debt securities:        
U.S. Treasury and government agencies 605 559 1,870 1,734
Municipalities 290 344 905 1,093
Dividends 49 36 135 111
Federal funds sold 7 7 10 9
Other 37 15 93 37
Total interest income 10,535 9,590 30,380 27,981
Interest Expense        
Deposits 1,161 947 3,289 2,686
Federal funds purchased and securities sold under agreements to repurchase 135 115 366 346
Borrowed funds 37 37 110 110
Total interest expense 1,333 1,099 3,765 3,142
Net Interest Income - Before Provision for Loan Losses 9,202 8,491 26,615 24,839
Provision for Loan Losses 99 308 197 924
Net Interest Income After Provision For Loan Losses 9,103 8,183 26,418 23,915
Noninterest Income        
Customer service fees 1,320 1,711 4,131 4,497
Other service charges and fees 1,134 941 3,214 2,850
Net gain on sale of loans 181 216 600 619
Net gain on sale of available for sale securities   47 47 503
Total noninterest income 2,635 2,915 7,992 8,469
Noninterest Expense        
Salaries and Wages 3,236 2,981 9,374 8,661
Employee benefits 943 849 2,648 2,426
Net occupancy expense 434 359 1,221 1,083
Furniture and equipment 493 438 1,456 1,293
Data processing 300 360 919 1,132
Franchise taxes 226 219 676 658
Net (gain) loss on sale of other assets owned 13 (6) 27 39
FDIC Assessment 82 126 247 368
Mortgage servicing rights amortization 85 123 266 311
Other general and administrative 1,545 1,473 4,692 4,594
Total other operating expenses 7,357 6,922 21,526 20,565
Income Before Income Taxes 4,381 4,176 12,884 11,819
Income Taxes 1,159 1,161 3,600 3,349
Net Income 3,222 3,015 9,284 8,470
Other Comprehensive Income (Loss) (Net of Tax):        
Net unrealized gain (loss) on available for sale securities (472) 58 1,984 2,652
Reclassification adjustment for gain on sale of available for sale securities   (47) (47) (503)
Net unrealized gain (loss) on available for sale securities (472) 11 1,937 2,149
Tax expense (benefit) (160) 4 659 731
Other comprehensive income (loss) (312) 7 1,278 1,418
Comprehensive Income $ 2,910 $ 3,022 $ 10,562 $ 9,888
Earnings Per Share - Basic and Diluted [1] $ 0.35 $ 0.33 $ 1.00 $ 0.92
Dividends Declared [1] $ 0.13 $ 0.12 $ 0.37 $ 0.34
[1] Share data has been adjusted to reflect a 2-for-1 stock split on September 20, 2017