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, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income        
Loans, including fees $ 16,125 $ 14,406 $ 32,576 $ 28,116
Securities        
Taxable 988 917 1,984 1,785
Tax-exempt 865 905 1,704 1,780
FHLB Stock 157 121 317 318
Federal funds sold and other short-term investments 1,104 487 1,848 856
Total interest income 19,239 16,836 38,429 32,855
Interest expense        
Deposits 2,365 1,319 4,622 2,312
Other borrowings 345 322 672 692
Long-term debt 574 542 1,159 1,015
Total interest expense 3,284 2,183 6,453 4,019
Net interest income 15,955 14,653 31,976 28,836
Provision for loan losses (200) (300) (450) (400)
Net interest income after provision for loan losses 16,155 14,953 32,426 29,236
Noninterest income        
Service charges and fees 1,078 1,060 2,128 2,110
Net gains on mortgage loans 614 222 825 363
Trust fees 1,003 945 1,893 1,870
ATM and debit card fees 1,481 1,414 2,808 2,692
Gain on sales of securities 0 0 0 0
Bank owned life insurance ("BOLI") income 249 237 485 475
Other 673 590 1,287 1,089
Total noninterest income 5,098 4,468 9,426 8,599
Noninterest expense        
Salaries and benefits 6,379 6,389 12,623 12,583
Occupancy of premises 996 973 2,089 2,045
Furniture and equipment 866 773 1,710 1,578
Legal and professional 211 215 441 417
Marketing and promotion 233 229 461 457
Data processing 761 797 1,491 1,493
FDIC assessment 119 132 239 264
Interchange and other card expense 365 359 711 691
Bond and D&O Insurance 103 110 206 219
Net (gains) losses on repossessed and foreclosed properties (34) 17 (69) 423
Administration and disposition of problem assets 49 66 137 121
Other 1,286 1,199 2,534 2,402
Total noninterest expenses 11,334 11,259 22,573 22,693
Income before income tax 9,919 8,162 19,279 15,142
Income tax expense 1,916 1,434 3,630 2,659
Net income $ 8,003 $ 6,728 $ 15,649 $ 12,483
Basic earnings per common share (in dollars per share) $ 0.24 $ 0.20 $ 0.46 $ 0.37
Diluted earnings per common share (in dollars per share) 0.24 0.20 0.46 0.37
Cash dividends per common share (in dollars per share) $ 0.07 $ 0.06 $ 0.14 $ 0.12