Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME (unaudited)

v3.19.1
CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Interest income    
Loans, including fees $ 16,450 $ 13,710
Securities    
Taxable 996 868
Tax-exempt 839 876
FHLB Stock 160 197
Federal funds sold and other short-term investments 744 368
Total interest income 19,189 16,019
Interest expense    
Deposits 2,256 994
Other borrowings 327 369
Long-term debt 586 474
Total interest expense 3,169 1,837
Net interest income 16,020 14,182
Provision for loan losses (250) (100)
Net interest income after provision for loan losses 16,270 14,282
Noninterest income    
Service charges and fees 1,050 1,049
Net gains on mortgage loans 211 141
Trust fees 890 925
ATM and debit card fees 1,326 1,278
Gain on sales of securities 0 0
Bank owned life insurance ("BOLI") income 236 238
Other 615 501
Total noninterest income 4,328 4,132
Noninterest expense    
Salaries and benefits 6,244 6,194
Occupancy of premises 1,093 1,072
Furniture and equipment 844 805
Legal and professional 230 202
Marketing and promotion 228 229
Data processing 730 695
FDIC assessment 120 132
Interchange and other card expense 345 332
Bond and D&O Insurance 104 110
Net (gains) losses on repossessed and foreclosed properties (35) 406
Administration and disposition of problem assets 88 55
Other 1,247 1,202
Total noninterest expenses 11,238 11,434
Income before income tax 9,360 6,980
Income tax expense 1,714 1,225
Net income $ 7,646 $ 5,755
Basic earnings per common share (in dollars per share) $ 0.22 $ 0.17
Diluted earnings per common share (in dollars per share) 0.22 0.17
Cash dividends per common share (in dollars per share) $ 0.07 $ 0.06