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Consolidated Statements of Earnings (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Interest income:    
Interest and fees on loans $ 18,513 $ 17,108
Interest and dividends on securities:    
Taxable securities 1,411 1,611
Exempt from Federal income taxes 232 171
Interest on loans held for sale 74 70
Interest on Federal funds sold 77 37
Interest and dividends on restricted securities 30 30
Total interest income 20,337 19,027
Interest expense:    
Interest on negotiable order of withdrawal accounts 376 366
Interest on money market and savings accounts 485 505
Interest on certificates of deposit 1,249 1,343
Interest on securities sold under repurchase agreements 1 2
Total interest expense 2,111 2,216
Net interest income before provision for loan losses 18,226 16,811
Provision for loan losses 67 75
Net interest income after provision for loan losses 18,159 16,736
Non-interest income:    
Service charges on deposit accounts 1,336 1,099
Other fees and commissions 2,410 2,150
Income on BOLI and annuity contracts 124 391
Gain on sale of loans 667 863
Gain on sale of other real estate 49 18
Gain on sale of securities 117 0
Total non-interest income 4,703 4,521
Non-interest expense:    
Salaries and employee benefits 8,193 7,252
Occupancy expenses, net 838 766
Furniture and equipment expense 519 498
Data processing expense 673 531
Directors’ fees 176 176
Other operating expenses 3,366 2,879
Loss on sale of other assets 0 1
Total non-interest expense 13,765 12,103
Earnings before income taxes 9,097 9,154
Income taxes 3,454 3,538
Net earnings $ 5,643 $ 5,616
Weighted average number of shares outstanding-basic 10,238,798 10,129,861
Weighted average number of shares outstanding-diluted 10,243,026 10,134,374
Basic earnings per common share (in dollars per share) $ 0.55 $ 0.55
Diluted earnings per common share (in dollars per share) 0.55 0.55
Dividends per share (in dollars per share) $ 0.26 $ 0.23