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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest Income        
Interest and fees on loans $ 7,289,000 $ 7,600,000 $ 14,623,000 $ 15,210,000
Interest on interest-bearing deposits 150,000 55,000 312,000 119,000
Interest on securities – taxable 1,567,000 1,712,000 3,244,000 3,446,000
Interest on securities – nontaxable 1,286,000 1,357,000 2,597,000 2,743,000
Total interest income 10,292,000 10,724,000 20,776,000 21,518,000
Interest Expense        
Interest on time deposits 253,000 315,000 527,000 642,000
Interest on other deposits 810,000 736,000 1,604,000 1,496,000
Total interest expense 1,063,000 1,051,000 2,131,000 2,138,000
Net interest income 9,229,000 9,673,000 18,645,000 19,380,000
Provision for loan losses 654,000 355,000 857,000 556,000
Net interest income after provision for loan losses 8,575,000 9,318,000 17,788,000 18,824,000
Noninterest Income        
Service charges on deposit accounts 569,000 570,000 1,129,000 1,105,000
Other service charges and fees 46,000 48,000 118,000 119,000
Credit card fees 969,000 976,000 1,839,000 1,871,000
Trust income 354,000 299,000 677,000 588,000
BOLI income 151,000 150,000 298,000 299,000
Other income 455,000 419,000 800,000 733,000
Realized securities gain, net 74,000 5,000 98,000 3,000
Total noninterest income 2,618,000 2,467,000 4,959,000 4,718,000
Noninterest Expense        
Salaries and employee benefits 2,907,000 3,232,000 6,475,000 6,283,000
Occupancy and furniture and fixtures 448,000 420,000 925,000 869,000
Data processing and ATM 595,000 408,000 1,006,000 843,000
FDIC assessment 145,000 135,000 286,000 270,000
Credit card processing 712,000 675,000 1,334,000 1,285,000
Intangible assets amortization 68,000 269,000 178,000 538,000
Net costs of other real estate owned 39,000 43,000 108,000 507,000
Franchise taxes 322,000 322,000 653,000 630,000
Other operating expenses 1,002,000 861,000 1,957,000 1,820,000
Total noninterest expense 6,238,000 6,365,000 12,922,000 13,045,000
Income before income taxes 4,955,000 5,420,000 9,825,000 10,497,000
Income tax expense 1,090,000 1,310,000 2,181,000 2,421,000
Net Income $ 3,865,000 $ 4,110,000 $ 7,644,000 $ 8,076,000
Basic net income per common share (in dollars per share) $ 0.56 $ 0.59 $ 1.10 $ 1.16
Fully diluted net income per common share (in dollars per share) $ 0.56 $ 0.59 $ 1.10 $ 1.16
Weighted average number of common shares outstanding – basic (in shares) 6,957,974 6,952,540 6,957,974 6,951,513
Weighted average number of common shares outstanding – diluted (in shares) 6,957,974 6,956,039 6,957,974 6,955,093
Dividends, per share (in dollars per share) $ 0.55 $ 0.53 $ 0.55 $ 0.53