CONSOLIDATED STATEMENTS OF INCOME - USD ($)
|
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
| Interest and Dividend Income |
|
|
|
| Loans, including fees |
$ 41,386,000
|
$ 39,475,000
|
$ 37,196,000
|
| Taxable interest and dividends on investment securities |
2,473,000
|
2,270,000
|
2,466,000
|
| Interest on deposits with banks |
14,000
|
14,000
|
16,000
|
| Total interest and dividend income |
43,873,000
|
41,759,000
|
39,678,000
|
| Interest Expense |
|
|
|
| Deposits |
4,152,000
|
4,586,000
|
5,581,000
|
| Short-term borrowings |
37,000
|
12,000
|
14,000
|
| Long-term debt |
3,156,000
|
2,100,000
|
2,051,000
|
| Total interest expense |
7,345,000
|
6,698,000
|
7,646,000
|
| Net interest income |
36,528,000
|
35,061,000
|
32,032,000
|
| Provision for loan losses |
1,433,000
|
2,653,000
|
940,000
|
| Net interest income after provision for loan losses |
35,095,000
|
32,408,000
|
31,092,000
|
| Noninterest Income |
|
|
|
| Loan appraisal, credit, and miscellaneous charges |
315,000
|
368,000
|
391,000
|
| Gain on sale of asset |
19,000
|
7,000
|
11,000
|
| Net (losses) gains on sale of OREO |
(20,000)
|
322,000
|
179,000
|
| Net (losses) gains on sale of investment securities |
4,000
|
19,000
|
|
| Loss on premises and equipment held for sale |
(426,000)
|
|
|
| Income from bank owned life insurance |
815,000
|
671,000
|
620,000
|
| Service charges |
2,488,000
|
2,213,000
|
2,346,000
|
| Gain on sale of loans held for sale |
104,000
|
493,000
|
627,000
|
| Total noninterest income |
3,299,000
|
4,093,000
|
4,174,000
|
| Noninterest Expense |
|
|
|
| Salary and employee benefits |
16,366,000
|
15,851,000
|
14,521,000
|
| Occupancy expense |
2,427,000
|
2,371,000
|
2,139,000
|
| Advertising |
583,000
|
545,000
|
477,000
|
| Data processing expense |
2,044,000
|
1,556,000
|
1,289,000
|
| Professional fees |
1,323,000
|
1,129,000
|
1,095,000
|
| Depreciation of furniture, fixtures, and equipment |
810,000
|
753,000
|
765,000
|
| Telephone communications |
188,000
|
185,000
|
200,000
|
| Office supplies |
157,000
|
204,000
|
226,000
|
| FDIC insurance |
799,000
|
709,000
|
1,115,000
|
| OREO valuation allowance and expenses |
1,059,000
|
386,000
|
787,000
|
| Other |
2,662,000
|
2,546,000
|
2,230,000
|
| Total noninterest expense |
28,418,000
|
26,235,000
|
24,844,000
|
| Income before income taxes |
9,976,000
|
10,266,000
|
10,422,000
|
| Income tax expense |
3,633,000
|
3,776,000
|
3,771,000
|
| Net income |
6,343,000
|
6,490,000
|
6,651,000
|
| Preferred stock dividends |
23,000
|
200,000
|
200,000
|
| Net income available to common shareholders |
$ 6,320,000
|
$ 6,290,000
|
$ 6,451,000
|
| Earnings Per Common Share |
|
|
|
| Basic (in dollars per share) |
$ 1.36
|
$ 1.35
|
$ 1.90
|
| Diluted (in dollars per share) |
1.35
|
1.35
|
1.88
|
| Cash dividends paid per common share (in dollars per share) |
$ 0.40
|
$ 0.40
|
$ 0.40
|