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Consolidated Statements of 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        
Interest and fees on loans $ 7,473 $ 7,409 $ 22,379 $ 22,032
Interest on interest-bearing deposits 224 97 603 409
Interest on securities – taxable 1,426 1,381 4,225 4,625
Interest on securities – nontaxable 1,178 1,270 3,627 3,867
Total interest income 10,301 10,157 30,834 30,933
Interest Expense        
Interest on time deposits 130 172 410 547
Interest on other deposits 891 847 2,687 2,603
Total interest expense 1,021 1,019 3,097 3,150
Net interest income 9,280 9,138 27,737 27,783
Provision for loan losses 201 291 724 1,148
Net interest income after provision for loan losses 9,079 8,847 27,013 26,635
Noninterest Income        
Service charges on deposit accounts 710 649 2,067 1,778
Other service charges and fees 41 47 151 165
Credit and debit card fees 1,030 963 2,947 2,802
Trust income 365 330 1,127 1,007
BOLI income 233 149 522 447
Other income 215 242 735 1,042
Realized securities gain, net 4 101 8 199
Total noninterest income 2,598 2,481 7,557 7,440
Noninterest Expense        
Salaries and employee benefits 3,496 3,239 10,477 9,714
Occupancy and furniture and fixtures 459 463 1,366 1,388
Data processing and ATM 563 624 1,669 1,630
FDIC assessment 93 135 279 421
Credit and debit card processing 716 715 2,096 2,049
Intangible assets amortization 13 40 56 218
Net costs of other real estate owned 58 71 142 179
Franchise taxes 332 321 983 974
Other operating expenses 1,015 1,012 3,312 2,969
Total noninterest expense 6,745 6,620 20,380 19,542
Income before income taxes 4,932 4,708 14,190 14,533
Income tax expense 1,147 880 3,186 3,061
Net Income $ 3,785 $ 3,828 $ 11,004 $ 11,472
Basic net income per common share (in dollars per share) $ 0.54 $ 0.55 $ 1.58 $ 1.65
Fully diluted net income per common share (in dollars per share) $ 0.54 $ 0.55 $ 1.58 $ 1.65
Weighted average number of common shares outstanding – basic and diluted (in shares) 6,957,974 6,957,974 6,957,974 6,957,974
Dividends declared per common share (in dollars per share) $ 0.56 $ 0.55