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, 2017
Dec. 31, 2016
Dec. 31, 2015
Interest income      
Loans, including fees $ 51,068 $ 47,400 $ 44,857
Securities      
Taxable 2,869 2,322 2,065
Tax-exempt 2,244 1,819 1,557
FHLB Stock 491 491 472
Federal funds sold and other short-term investments 1,004 467 435
Total interest income 57,676 52,499 49,386
Interest expense      
Deposits 2,612 1,771 2,210
Other borrowings 1,407 1,685 1,765
Long-term debt 1,713 1,503 1,331
Total interest expense 5,732 4,959 5,306
Net interest income 51,944 47,540 44,080
Provision for loan losses (1,350) (1,350) (3,500)
Net interest income after provision for loan losses 53,294 48,890 47,580
Noninterest income      
Service charges and fees 4,466 4,425 4,377
Net gains on mortgage loans 1,574 3,024 2,925
Trust fees 3,277 3,096 2,927
ATM and debit card fees 5,207 4,980 4,750
Gain on sales of securities 3 124 129
Bank owned life insurance ("BOLI") income 969 977 663
Other 1,923 2,448 2,022
Total noninterest income 17,419 19,074 17,793
Noninterest expense      
Salaries and benefits 24,803 24,867 24,668
Occupancy of premises 3,864 3,789 3,714
Furniture and equipment 3,050 3,256 3,237
Legal and professional 812 863 833
Marketing and promotion 882 1,000 951
Data processing 2,759 2,787 2,483
FDIC assessment 539 778 1,137
Interchange and other card expense 1,306 1,286 1,151
Bond and D&O Insurance 471 527 584
Net (gains) losses on repossessed and foreclosed properties (428) 318 1,651
Administration and disposition of problem assets 493 977 1,381
Other 5,137 5,334 5,163
Total noninterest expenses 43,688 45,782 46,953
Income before income tax 27,025 22,182 18,420
Income tax expense 10,733 6,231 5,626
Net income $ 16,292 $ 15,951 $ 12,794
Basic earnings per common share (in dollars per share) $ 0.48 $ 0.47 $ 0.38
Diluted earnings per common share (in dollars per share) 0.48 0.47 0.38
Cash dividends per common share (in dollars per share) $ 0.18 $ 0.12 $ 0.11