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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
INTEREST INCOME      
Interest and fees on loans $ 33,795 $ 32,479 $ 33,833
Interest and dividends on securities      
Taxable 7,406 7,628 6,900
Tax-exempt 1,700 1,803 2,137
Dividends 310 265 293
Interest on deposits with other banks and federal funds sold 164 106 162
Total interest and dividend income 43,375 42,281 43,325
INTEREST EXPENSE      
Interest on deposits 3,535 3,462 3,889
Interest on securities sold under agreements to repurchase 3 64 318
Interest on FHLB borrowings and other debt 886 681 1,036
Total interest expense 4,424 4,207 5,243
NET INTEREST INCOME 38,951 38,074 38,082
Provision for loan losses 1,853 2,293 1,960
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 37,098 35,781 36,122
NON-INTEREST INCOME      
Service charges on deposit accounts 1,154 1,061 1,163
Trust services income 4,643 4,785 4,362
ATM fee income, net 762 797 739
Gains (losses) on sales of loans held for sale, net 32 (1) 4,860
Gains on sales of securities available for sale, net 1,554 140 186
Commissions on investment sales 555 547 611
Bank owned life insurance 652 656 662
Gain on sale of majority interest in consolidated subsidiary 0 0 24
Other operating income 1,386 1,636 1,659
Total non-interest income 10,738 9,621 14,266
NON-INTEREST EXPENSE      
Salaries and employee benefits 18,757 18,435 22,601
Occupancy and equipment 4,881 5,106 6,177
Advertising 200 288 365
Amortization 1,211 1,001 791
Computer operations 2,582 2,337 1,893
Other real estate owned, net 363 284 256
Other taxes 947 915 849
Federal deposit insurance 748 786 899
Audits and exams 589 585 630
Legal and advisory fees 1,202 1,029 1,324
Merger related expenses 1,289 0 0
Other operating expenses 4,190 4,091 4,776
Total non-interest expense 36,959 34,857 40,561
Income before income taxes 10,877 10,545 9,827
Income tax expense 2,813 2,715 2,341
NET INCOME 8,064 7,830 7,486
Net loss attributable to non-controlling interest 0 0 98
Net income attributable to Middleburg Financial Corporation $ 8,064 $ 7,830 $ 7,584
Earnings per share:      
Basic (in dollars per share) $ 1.13 $ 1.10 $ 1.07
Diluted (in dollars per share) $ 1.13 $ 1.09 $ 1.06