Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME (unaudited)

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CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest income        
Loans, including fees $ 11,838 $ 11,250 $ 35,228 $ 33,365
Securities        
Taxable 584 529 1,699 1,531
Tax-exempt 451 394 1,325 1,114
FHLB Stock 122 120 368 348
Federal funds sold and other short-term investments 127 134 383 318
Total interest income 13,122 12,427 39,003 36,676
Interest expense        
Deposits 431 521 1,333 1,749
Other borrowings 418 449 1,318 1,317
Long-term debt 371 336 1,104 992
Total interest expense 1,220 1,306 3,755 4,058
Net interest income 11,902 11,121 35,248 32,618
Provision for loan losses (250) (250) (1,100) (1,750)
Net interest income after provision for loan losses 12,152 11,371 36,348 34,368
Noninterest income        
Service charges and fees 1,152 1,150 3,312 3,248
Net gains on mortgage loans 1,175 705 2,235 2,249
Trust fees 790 711 2,286 2,168
ATM and debit card fees 1,272 1,220 3,715 3,549
Gain on sale of securities 0 36 99 119
Bank owned life insurance ("BOLI") income 146 170 748 503
Other 540 492 1,824 1,455
Total noninterest income 5,075 4,484 14,219 13,291
Noninterest expense        
Salaries and benefits 6,166 6,158 18,521 18,474
Occupancy of premises 901 948 2,784 2,823
Furniture and equipment 772 835 2,476 2,431
Legal and professional 153 231 500 661
Marketing and promotion 275 263 825 831
Data processing 741 619 2,089 1,845
FDIC assessment 166 283 638 854
Interchange and other card expense 334 304 927 864
Bond and D&O Insurance 132 147 395 438
Net losses (gains) on repossessed and foreclosed properties 115 (160) 409 260
Administration and disposition of problem assets 210 393 787 1,053
Other 1,308 1,233 3,943 3,804
Total noninterest expenses 11,273 11,254 34,294 34,338
Income before income tax 5,954 4,601 16,273 13,321
Income tax expense 1,350 1,400 4,429 4,065
Net income $ 4,604 $ 3,201 $ 11,844 $ 9,256
Basic earnings per common share (in dollars per share) $ 0.14 $ 0.09 $ 0.35 $ 0.27
Diluted earnings per common share (in dollars per share) 0.14 0.09 0.35 0.27
Cash dividends per common share (in dollars per share) $ 0.03 $ 0.03 $ 0.09 $ 0.08