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, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest income        
Loans, including fees $ 14,406 $ 12,540 $ 28,116 $ 24,996
Securities        
Taxable 917 646 1,785 1,285
Tax-exempt 905 546 1,780 1,084
FHLB Stock 121 121 318 244
Federal funds sold and other short-term investments 487 189 856 281
Total interest income 16,836 14,042 32,855 27,890
Interest expense        
Deposits 1,319 557 2,312 1,038
Other borrowings 322 358 692 740
Long-term debt 542 422 1,015 824
Total interest expense 2,183 1,337 4,019 2,602
Net interest income 14,653 12,705 28,836 25,288
Provision for loan losses (300) (500) (400) (1,000)
Net interest income after provision for loan losses 14,953 13,205 29,236 26,288
Noninterest income        
Service charges and fees 1,060 1,110 2,110 2,170
Net gains on mortgage loans 222 476 363 904
Trust fees 945 833 1,870 1,611
ATM and debit card fees 1,414 1,338 2,692 2,539
Gain on sales of securities 0 0 0 3
Bank owned life insurance ("BOLI") income 237 243 475 481
Other 590 478 1,089 1,001
Total noninterest income 4,468 4,478 8,599 8,709
Noninterest expense        
Salaries and benefits 6,389 6,153 12,583 12,152
Occupancy of premises 973 991 2,045 2,017
Furniture and equipment 773 750 1,578 1,482
Legal and professional 215 197 417 422
Marketing and promotion 229 225 457 453
Data processing 797 731 1,493 1,413
FDIC assessment 132 134 264 270
Interchange and other card expense 359 324 691 637
Bond and D&O Insurance 110 118 219 234
Net (gains) losses on repossessed and foreclosed properties 17 (300) 423 (385)
Administration and disposition of problem assets 66 142 121 322
Other 1,199 1,327 2,402 2,662
Total noninterest expenses 11,259 10,792 22,693 21,679
Income before income tax 8,162 6,891 15,142 13,318
Income tax expense 1,434 2,129 2,659 4,095
Net income $ 6,728 $ 4,762 $ 12,483 $ 9,223
Basic earnings per common share (in dollars per share) $ 0.20 $ 0.14 $ 0.37 $ 0.27
Diluted earnings per common share (in dollars per share) 0.20 0.14 0.37 0.27
Cash dividends per common share (in dollars per share) $ 0.06 $ 0.04 $ 0.12 $ 0.08