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 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income        
Loans, including fees $ 15,604 $ 14,952 $ 48,179 $ 43,068
Securities        
Taxable 968 945 2,952 2,730
Tax-exempt 919 846 2,623 2,627
FHLB Stock 158 130 476 447
Federal funds sold and other short-term investments 1,430 814 3,278 1,670
Total interest income 19,079 17,687 57,508 50,542
Interest expense        
Deposits 2,343 1,609 6,965 3,921
Other borrowings 349 364 1,021 1,056
Long-term debt 551 552 1,710 1,567
Total interest expense 3,243 2,525 9,696 6,544
Net interest income 15,836 15,162 47,812 43,998
Provision for loan losses 0 0 (450) (400)
Net interest income after provision for loan losses 15,836 15,162 48,262 44,398
Noninterest income        
Service charges and fees 1,139 1,132 3,267 3,242
Net gains on mortgage loans 824 270 1,650 633
Trust fees 920 889 2,813 2,759
ATM and debit card fees 1,469 1,426 4,276 4,117
Gain on sales of securities 0 0 0 0
Bank owned life insurance ("BOLI") income 252 239 737 715
Other 609 543 1,896 1,632
Total noninterest income 5,213 4,499 14,639 13,098
Noninterest expense        
Salaries and benefits 6,272 6,360 18,895 18,942
Occupancy of premises 966 939 3,055 2,984
Furniture and equipment 887 760 2,597 2,338
Legal and professional 211 188 652 606
Marketing and promotion 228 228 689 685
Data processing 735 747 2,226 2,239
FDIC assessment 0 127 239 391
Interchange and other card expense 347 361 1,057 1,053
Bond and D&O Insurance 103 111 309 330
Net (gains) losses on repossessed and foreclosed properties 0 26 (69) 450
Administration and disposition of problem assets 46 82 183 202
Other 1,214 1,310 3,749 3,712
Total noninterest expenses 11,009 11,239 33,582 33,932
Income before income tax 10,040 8,422 29,319 23,564
Income tax expense 1,882 1,570 5,512 4,228
Net income $ 8,158 $ 6,852 $ 23,807 $ 19,336
Basic earnings per common share (in dollars per share) $ 0.24 $ 0.20 $ 0.70 $ 0.57
Diluted earnings per common share (in dollars per share) 0.24 0.20 0.70 0.57
Cash dividends per common share (in dollars per share) $ 0.07 $ 0.06 $ 0.21 $ 0.18