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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest and dividend income        
Loans, including fees $ 12,170 $ 11,270 $ 23,487 $ 21,516
Taxable securities 821 796 1,622 1,629
Tax-exempt securities 661 640 1,315 1,264
Federal funds sold and other 87 34 367 94
Total interest income 13,739 12,740 26,791 24,503
Interest expense        
Deposits 485 533 974 1,075
Federal Home Loan Bank advances 91 94 201 215
Subordinated debentures 218 193 430 373
Other 5 4 11 9
Total interest expense 799 824 1,616 1,672
Net interest income 12,940 11,916 25,175 22,831
Provision (credit) for loan losses (1,300) 400 (1,300) 800
Net interest income after provision (credit) for loan losses 14,240 11,516 26,475 22,031
Noninterest income        
Service charges 1,391 1,170 2,520 2,225
Net gain on sale of securities 6   1  
Net gain on sale of loans 406 415 800 619
ATM fees 535 515 1,043 964
Trust fees 666 734 1,300 1,501
Bank owned life insurance 151 116 266 233
Tax refund processing fees 550 400 2,750 2,000
Other 370 302 655 511
Total noninterest income 4,075 3,652 9,335 8,053
Noninterest expense        
Salaries, wages and benefits 6,354 5,809 12,678 11,708
Net occupancy expense 670 615 1,301 1,239
Equipment expense 368 365 664 728
Contracted data processing 395 545 750 993
FDIC assessment 179 225 431 462
State franchise tax 240 217 458 456
Professional services 517 663 1,019 1,119
Amortization of intangible assets 172 192 355 334
ATM expense 75 162 196 445
Marketing 275 308 561 544
Other operating expenses 1,805 1,832 3,544 3,509
Total noninterest expense 11,050 10,933 21,957 21,537
Income before taxes 7,265 4,235 13,853 8,547
Income tax expense 2,084 1,113 3,947 2,255
Net Income 5,181 3,122 9,906 6,292
Preferred stock dividends 391 391 782 795
Net income available to common shareholders $ 4,790 $ 2,731 $ 9,124 $ 5,497
Earnings per common share, basic $ 0.61 $ 0.35 $ 1.16 $ 0.70
Earnings per common share, diluted $ 0.47 $ 0.29 $ 0.91 $ 0.58