Consolidated Statements of Income (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2016 |
Sep. 30, 2015 |
Sep. 30, 2016 |
Sep. 30, 2015 |
|
| Interest Income | ||||
| Interest and fees on loans | $ 7,409,000 | $ 7,676,000 | $ 22,032,000 | $ 22,886,000 |
| Interest on interest-bearing deposits | 97,000 | 54,000 | 409,000 | 173,000 |
| Interest on securities – taxable | 1,381,000 | 1,678,000 | 4,625,000 | 5,124,000 |
| Interest on securities – nontaxable | 1,270,000 | 1,352,000 | 3,867,000 | 4,095,000 |
| Total interest income | 10,157,000 | 10,760,000 | 30,933,000 | 32,278,000 |
| Interest Expense | ||||
| Interest on time deposits | 238,000 | 301,000 | 765,000 | 943,000 |
| Interest on other deposits | 781,000 | 708,000 | 2,385,000 | 2,204,000 |
| Total interest expense | 1,019,000 | 1,009,000 | 3,150,000 | 3,147,000 |
| Net interest income | 9,138,000 | 9,751,000 | 27,783,000 | 29,131,000 |
| Provision for loan losses | 291,000 | 178,000 | 1,148,000 | 734,000 |
| Net interest income after provision for loan losses | 8,847,000 | 9,573,000 | 26,635,000 | 28,397,000 |
| Noninterest Income | ||||
| Service charges on deposit accounts | 649,000 | 571,000 | 1,778,000 | 1,676,000 |
| Other service charges and fees | 47,000 | 45,000 | 165,000 | 164,000 |
| Credit card fees | 963,000 | 972,000 | 2,802,000 | 2,843,000 |
| Trust income | 330,000 | 314,000 | 1,007,000 | 902,000 |
| BOLI income | 149,000 | 152,000 | 447,000 | 451,000 |
| Other income | 242,000 | 230,000 | 1,042,000 | 963,000 |
| Realized securities gain, net | 101,000 | 2,000 | 199,000 | 5,000 |
| Total noninterest income | 2,481,000 | 2,286,000 | 7,440,000 | 7,004,000 |
| Noninterest Expense | ||||
| Salaries and employee benefits | 3,239,000 | 3,150,000 | 9,714,000 | 9,433,000 |
| Occupancy and furniture and fixtures | 463,000 | 438,000 | 1,388,000 | 1,307,000 |
| Data processing and ATM | 624,000 | 387,000 | 1,630,000 | 1,230,000 |
| FDIC assessment | 135,000 | 138,000 | 421,000 | 408,000 |
| Credit card processing | 715,000 | 701,000 | 2,049,000 | 1,986,000 |
| Intangible assets amortization | 40,000 | 269,000 | 218,000 | 807,000 |
| Net costs of other real estate owned | 71,000 | 48,000 | 179,000 | 555,000 |
| Franchise taxes | 321,000 | 329,000 | 974,000 | 959,000 |
| Other operating expenses | 1,012,000 | 859,000 | 2,969,000 | 2,679,000 |
| Total noninterest expense | 6,620,000 | 6,319,000 | 19,542,000 | 19,364,000 |
| Income before income taxes | 4,708,000 | 5,540,000 | 14,533,000 | 16,037,000 |
| Income tax expense | 880,000 | 1,341,000 | 3,061,000 | 3,762,000 |
| Net income | $ 3,828,000 | $ 4,199,000 | $ 11,472,000 | $ 12,275,000 |
| Basic net income per common share (in dollars per share) | $ 0.55 | $ 0.60 | $ 1.65 | $ 1.77 |
| Fully diluted net income per common share (in dollars per share) | $ 0.55 | $ 0.60 | $ 1.65 | $ 1.76 |
| Weighted average number of common shares outstanding – basic (in shares) | 6,957,974 | 6,955,126 | 6,957,974 | 6,952,716 |
| Weighted average number of common shares outstanding – diluted (in shares) | 6,957,974 | 6,959,168 | 6,957,974 | 6,956,689 |
| Dividends, per share (in dollars per share) | $ 0.55 | $ 0.53 | ||
| Net Income | $ 3,828,000 | $ 4,199,000 | $ 11,472,000 | $ 12,275,000 |