Consolidated Statements of Income - USD ($) $ in Thousands |
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
| INTEREST AND DIVIDEND INCOME |
|
|
|
| Loans, including fees |
$ 44,657
|
$ 30,901
|
$ 30,717
|
| Taxable securities |
5,903
|
7,282
|
7,062
|
| Tax exempt securities |
2,951
|
2,523
|
2,949
|
| Dividends |
287
|
190
|
196
|
| Federal funds sold and other interest income |
29
|
19
|
35
|
| TOTAL INTEREST AND DIVIDEND INCOME |
53,827
|
40,915
|
40,959
|
| INTEREST EXPENSE |
|
|
|
| Deposits |
3,489
|
4,008
|
4,560
|
| Short-term borrowings |
177
|
46
|
51
|
| Long-term borrowings |
424
|
525
|
452
|
| TOTAL INTEREST EXPENSE |
4,090
|
4,579
|
5,063
|
| NET INTEREST INCOME |
49,737
|
36,336
|
35,896
|
| Provision for loan losses |
3,510
|
1,880
|
1,290
|
| NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES |
46,227
|
34,456
|
34,606
|
| NONINTEREST INCOME |
|
|
|
| Service charges on deposit accounts |
3,253
|
2,627
|
2,370
|
| Bank owned life insurance income, including death benefits |
702
|
459
|
696
|
| Trust fees |
6,156
|
6,092
|
5,583
|
| Insurance agency commissions |
569
|
354
|
243
|
| Security gains |
94
|
457
|
863
|
| Impairment of equity securities |
0
|
0
|
(3)
|
| Retirement plan consulting fees |
2,130
|
1,809
|
628
|
| Investment commissions |
1,172
|
1,026
|
989
|
| Net gains on sale of loans |
1,101
|
358
|
505
|
| Other operating income |
3,129
|
2,121
|
2,040
|
| TOTAL NONINTEREST INCOME |
18,306
|
15,303
|
13,914
|
| NONINTEREST EXPENSE |
|
|
|
| Salaries and employee benefits |
26,638
|
20,878
|
22,054
|
| Occupancy and equipment |
5,452
|
4,505
|
4,189
|
| State and local taxes |
1,171
|
878
|
1,313
|
| Professional fees |
3,180
|
2,451
|
2,212
|
| Merger related costs |
6,392
|
0
|
330
|
| Advertising |
1,325
|
1,112
|
911
|
| FDIC insurance |
937
|
733
|
719
|
| Intangible amortization |
983
|
767
|
624
|
| Core processing charges |
2,176
|
1,571
|
1,354
|
| Other operating expenses |
5,725
|
5,267
|
5,351
|
| TOTAL NONINTEREST EXPENSE |
53,979
|
38,162
|
39,057
|
| INCOME BEFORE INCOME TAXES |
10,554
|
11,597
|
9,463
|
| INCOME TAXES |
2,499
|
2,632
|
1,683
|
| NET INCOME |
$ 8,055
|
$ 8,965
|
$ 7,780
|
| EARNINGS PER SHARE: Basic and Diluted |
$ 0.36
|
$ 0.48
|
$ 0.41
|