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, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income        
Loans, including fees $ 12,804 $ 11,838 $ 37,800 $ 35,228
Securities        
Taxable 741 584 2,025 1,699
Tax-exempt 574 451 1,658 1,325
FHLB Stock 122 122 367 368
Federal funds sold and other short-term investments 385 127 666 383
Total interest income 14,626 13,122 42,516 39,003
Interest expense        
Deposits 732 431 1,770 1,333
Other borrowings 314 418 1,053 1,318
Long-term debt 442 371 1,267 1,104
Total interest expense 1,488 1,220 4,090 3,755
Net interest income 13,138 11,902 38,426 35,248
Provision for loan losses (350) (250) (1,350) (1,100)
Net interest income after provision for loan losses 13,488 12,152 39,776 36,348
Noninterest income        
Service charges and fees 1,172 1,152 3,342 3,312
Net gains on mortgage loans 369 1,175 1,273 2,235
Trust fees 801 790 2,412 2,286
ATM and debit card fees 1,324 1,272 3,863 3,715
Gain on sales of securities 0 0 3 99
Bank owned life insurance ("BOLI") income 249 146 730 748
Other 385 540 1,386 1,824
Total noninterest income 4,300 5,075 13,009 14,219
Noninterest expense        
Salaries and benefits 6,211 6,166 18,363 18,521
Occupancy of premises 922 901 2,939 2,784
Furniture and equipment 797 772 2,278 2,476
Legal and professional 199 153 621 500
Marketing and promotion 226 275 678 825
Data processing 655 741 2,068 2,089
FDIC assessment 134 166 404 638
Interchange and other card expense 333 334 970 927
Bond and D&O Insurance 119 132 353 395
Net (gains) losses on repossessed and foreclosed properties (190) 115 (575) 409
Administration and disposition of problem assets 113 210 435 787
Other 1,237 1,308 3,900 3,943
Total noninterest expenses 10,756 11,273 32,434 34,294
Income before income tax 7,032 5,954 20,351 16,273
Income tax expense 2,157 1,350 6,253 4,429
Net income $ 4,875 $ 4,604 $ 14,098 $ 11,844
Basic earnings per common share (in dollars per share) $ 0.14 $ 0.14 $ 0.42 $ 0.35
Diluted earnings per common share (in dollars per share) 0.14 0.14 0.42 0.35
Cash dividends per common share (in dollars per share) $ 0.05 $ 0.03 $ 0.13 $ 0.09