Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Interest income      
Loans, including fees $ 47,400 $ 44,857 $ 42,911
Securities      
Taxable 2,322 2,065 2,006
Tax-exempt 1,819 1,557 1,161
FHLB Stock 491 472 471
Federal funds sold and other short-term investments 467 435 439
Total interest income 52,499 49,386 46,988
Interest expense      
Deposits 1,771 2,210 2,576
Other borrowings 1,685 1,765 1,709
Long-term debt 1,503 1,331 1,311
Total interest expense 4,959 5,306 5,596
Net interest income 47,540 44,080 41,392
Provision for loan losses (1,350) (3,500) (3,350)
Net interest income after provision for loan losses 48,890 47,580 44,742
Noninterest income      
Service charges and fees 4,425 4,377 4,334
Net gains on mortgage loans 3,024 2,925 1,939
Trust fees 3,096 2,927 2,701
ATM and debit card fees 4,980 4,750 4,654
Gain on sales of securities 124 129 75
Bank owned life insurance ("BOLI") income 977 663 678
Other 2,448 2,022 1,833
Total noninterest income 19,074 17,793 16,214
Noninterest expense      
Salaries and benefits 24,867 24,668 23,137
Occupancy of premises 3,789 3,714 3,840
Furniture and equipment 3,256 3,237 3,190
Legal and professional 863 833 846
Marketing and promotion 1,000 951 1,056
Data processing 2,787 2,483 2,423
FDIC assessment 778 1,137 1,218
Interchange and other card expense 1,286 1,151 1,109
Bond and D&O Insurance 527 584 659
Net losses (gains) on repossessed and foreclosed properties 318 1,651 999
Administration and disposition of problem assets 977 1,381 2,072
Other 5,334 5,163 5,361
Total noninterest expenses 45,782 46,953 45,910
Income before income tax 22,182 18,420 15,046
Income tax expense 6,231 5,626 4,573
Net income $ 15,951 $ 12,794 $ 10,473
Basic earnings per common share (in dollars per share) $ 0.47 $ 0.38 $ 0.31
Diluted earnings per common share (in dollars per share) 0.47 0.38 0.31
Cash dividends per common share (in dollars per share) $ 0.12 $ 0.11 $ 0.08