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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest and dividend income        
Loans, including fees $ 13,022 $ 11,824 $ 37,211 $ 35,311
Taxable securities 977 872 2,764 2,494
Tax-exempt securities 812 664 2,307 1,979
Federal funds sold and other 25 10 473 376
Total interest income 14,836 13,370 42,755 40,160
Interest expense        
Deposits 607 506 1,500 1,480
Federal Home Loan Bank advances 276 111 534 312
Subordinated debentures 268 221 766 650
Other 5 6 16 17
Total interest expense 1,156 844 2,816 2,459
Net interest income 13,680 12,526 39,939 37,701
Provision (credit) for loan losses       (1,300)
Net interest income after provision (credit) for loan losses 13,680 12,526 39,939 39,001
Noninterest income        
Service charges 1,177 1,194 3,609 3,714
Net gain (loss) on sale of securities (9) 18 (9) 20
Net gain on sale of loans 472 541 1,207 1,341
ATM fees 567 541 1,643 1,584
Wealth management fees 787 688 2,233 1,989
Bank owned life insurance 142 149 429 415
Tax refund processing fees     2,750 2,750
Other 329 522 842 1,176
Total noninterest income 3,465 3,653 12,704 12,989
Noninterest expense        
Salaries, wages and benefits 7,389 6,375 21,684 19,053
Net occupancy expense 690 708 2,002 2,009
Equipment expense 350 494 1,097 1,158
Contracted data processing 357 397 1,174 1,147
FDIC assessment 115 166 414 597
State franchise tax 255 251 767 709
Professional services 534 431 1,718 1,450
Amortization of intangible assets 158 172 483 527
ATM expense 233 183 700 379
Marketing 240 249 768 810
Other operating expenses 1,846 1,769 5,410 5,314
Total noninterest expense 12,167 11,195 36,217 33,153
Income before taxes 4,978 4,984 16,426 18,837
Income tax expense 1,318 1,304 4,534 5,251
Net Income 3,660 3,680 11,892 13,586
Preferred stock dividends 308 374 935 1,156
Net income available to common shareholders $ 3,352 $ 3,306 $ 10,957 $ 12,430
Earnings per common share, basic $ 0.33 $ 0.41 $ 1.12 $ 1.57
Earnings per common share, diluted $ 0.29 $ 0.34 $ 0.97 $ 1.24