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 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest income        
Loans, including fees $ 12,540 $ 11,634 $ 24,996 $ 23,390
Securities        
Taxable 646 565 1,285 1,115
Tax-exempt 546 441 1,084 874
FHLB Stock 121 122 244 246
Federal funds sold and other short-term investments 189 111 281 256
Total interest income 14,042 12,873 27,890 25,881
Interest expense        
Deposits 557 439 1,038 902
Other borrowings 358 458 740 900
Long-term debt 422 368 824 733
Total interest expense 1,337 1,265 2,602 2,535
Net interest income 12,705 11,608 25,288 23,346
Provision for loan losses (500) (750) (1,000) (850)
Net interest income after provision for loan losses 13,205 12,358 26,288 24,196
Noninterest income        
Service charges and fees 1,110 1,112 2,170 2,159
Net gains on mortgage loans 476 572 904 1,060
Trust fees 833 788 1,611 1,496
ATM and debit card fees 1,338 1,257 2,539 2,443
Gain on sales of securities 0 10 3 99
Bank owned life insurance ("BOLI") income 243 158 481 602
Other 478 639 1,001 1,285
Total noninterest income 4,478 4,536 8,709 9,144
Noninterest expense        
Salaries and benefits 6,153 6,168 12,152 12,355
Occupancy of premises 991 901 2,017 1,883
Furniture and equipment 750 839 1,482 1,704
Legal and professional 197 188 422 347
Marketing and promotion 225 275 453 550
Data processing 731 688 1,413 1,347
FDIC assessment 134 220 270 472
Interchange and other card expense 324 308 637 594
Bond and D&O Insurance 118 131 234 263
Net losses (gains) on repossessed and foreclosed properties (300) 258 (385) 294
Administration and disposition of problem assets 142 202 322 577
Other 1,327 1,292 2,662 2,635
Total noninterest expenses 10,792 11,470 21,679 23,021
Income before income tax 6,891 5,424 13,318 10,319
Income tax expense 2,129 1,679 4,095 3,079
Net income $ 4,762 $ 3,745 $ 9,223 $ 7,240
Basic earnings per common share (in dollars per share) $ 0.14 $ 0.11 $ 0.27 $ 0.21
Diluted earnings per common share (in dollars per share) 0.14 0.11 0.27 0.21
Cash dividends per common share (in dollars per share) $ 0.04 $ 0.03 $ 0.08 $ 0.06