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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Interest income:        
Loans (including fee income) $ 11,583 $ 10,467 $ 33,433 $ 29,753
Mortgage-backed securities, CMOs and other asset-backed securities 1,796 1,710 4,708 5,793
U.S. GSE securities 749 747 2,199 2,361
State and municipal obligations 650 579 1,976 2,164
Corporate Bonds 100 153 301 473
Deposits with banks 7 28 20 70
Other interest and dividend income 28 23 115 68
Total interest income 14,913 13,707 42,752 40,682
Interest expense:        
Savings, NOW and money market deposits 905 952 2,648 2,829
Certificates of deposit of $100,000 or more 257 360 927 1,113
Other time deposits 86 101 257 324
Federal funds purchased and repurchase agreements 134 97 389 323
Federal Home Loan Bank advances 142 38 225 46
Junior subordinated debentures 341 341 1,024 1,024
Total interest expense 1,865 1,889 5,470 5,659
Net interest income 13,048 11,818 37,282 35,023
Provision for loan losses 500 600 1,650 3,925
Net interest income after provision for loan losses 12,548 11,218 35,632 31,098
Non interest income:        
Service charges on deposit accounts 777 827 2,424 2,492
Fees for other customer services 925 854 2,486 2,179
Net securities gains 11 186 659 2,179
Title fee income 357 344 1,041 1,037
Other operating (loss) income (10) 24 22 101
Total non interest income 2,060 2,235 6,632 7,988
Non interest expense:        
Salaries and employee benefits 5,292 5,211 16,012 15,584
Occupancy and equipment 1,407 1,005 4,016 2,954
Technology and communications 726 545 1,885 1,569
Marketing and advertising 589 433 1,470 1,187
Professional services 336 232 957 803
FDIC assessments 239 190 675 542
Acquisition costs 338   338  
Amortization of core deposit intangible 14 16 45 51
Cost of extinguishment of debt       158
Other operating expenses 920 847 2,726 2,419
Total non interest expense 9,861 8,479 28,124 25,267
Income before income taxes 4,747 4,974 14,140 13,819
Income tax expense 1,624 1,614 4,652 4,457
Net income $ 3,123 $ 3,360 $ 9,488 $ 9,362
Basic earnings per share (in dollars per share) $ 0.34 $ 0.39 $ 1.04 $ 1.09
Diluted earnings per share (in dollars per share) $ 0.34 $ 0.39 $ 1.04 $ 1.09