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, 2018
Dec. 31, 2017
Interest income    
Loans, including fees $ 58,852 $ 51,068
Securities    
Taxable 3,716 2,869
Tax-exempt 3,464 2,244
FHLB Stock 578 491
Federal funds sold and other short-term investments 2,427 1,004
Total interest income 69,037 57,676
Interest expense    
Deposits 5,881 2,612
Other borrowings 1,403 1,407
Long-term debt 2,127 1,713
Total interest expense 9,411 5,732
Net interest income 59,626 51,944
Provision for loan losses 450 (1,350)
Net interest income after provision for loan losses 59,176 53,294
Noninterest income    
Service charges and fees 4,377 4,466
Net gains on mortgage loans 924 1,574
Trust fees 3,643 3,277
ATM and debit card fees 5,535 5,207
Gain on sales of securities 0 3
BOLI income 942 969
Other 2,082 1,923
Total noninterest income 17,503 17,419
Noninterest expense    
Salaries and benefits 25,207 24,803
Occupancy of premises 3,931 3,864
Furniture and equipment 3,125 3,050
Legal and professional 806 812
Marketing and promotion 881 882
Data processing 2,986 2,759
FDIC assessment 518 539
Interchange and other card expense 1,409 1,306
Bond and D&O Insurance 440 471
Net (gains) losses on repossessed and foreclosed properties (207) (428)
Administration and disposition of problem assets 276 493
Other 4,957 5,137
Total noninterest expenses 44,329 43,688
Income before income tax 32,350 27,025
Income tax expense 5,971 10,733
Net income $ 26,379 $ 16,292
Basic earnings per common share (in dollars per share) $ 0.78 $ 0.48
Diluted earnings per common share (in dollars per share) 0.78 0.48
Cash dividends per common share (in dollars per share) $ 0.25 $ 0.18