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, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest income        
Loans, including fees $ 14,952 $ 12,804 $ 43,068 $ 37,800
Securities        
Taxable 945 741 2,730 2,025
Tax-exempt 846 574 2,627 1,658
FHLB Stock 130 122 447 367
Federal funds sold and other short-term investments 814 385 1,670 666
Total interest income 17,687 14,626 50,542 42,516
Interest expense        
Deposits 1,609 732 3,921 1,770
Other borrowings 364 314 1,056 1,053
Long-term debt 552 442 1,567 1,267
Total interest expense 2,525 1,488 6,544 4,090
Net interest income 15,162 13,138 43,998 38,426
Provision for loan losses 0 (350) (400) (1,350)
Net interest income after provision for loan losses 15,162 13,488 44,398 39,776
Noninterest income        
Service charges and fees 1,132 1,172 3,242 3,342
Net gains on mortgage loans 270 369 633 1,273
Trust fees 889 801 2,759 2,412
ATM and debit card fees 1,426 1,324 4,117 3,863
Gain on sales of securities 0 0 0 3
Bank owned life insurance ("BOLI") income 239 249 715 730
Other 543 385 1,632 1,386
Total noninterest income 4,499 4,300 13,098 13,009
Noninterest expense        
Salaries and benefits 6,360 6,211 18,942 18,363
Occupancy of premises 939 922 2,984 2,939
Furniture and equipment 760 797 2,338 2,278
Legal and professional 188 199 606 621
Marketing and promotion 228 226 685 678
Data processing 747 655 2,239 2,068
FDIC assessment 127 134 391 404
Interchange and other card expense 361 333 1,053 970
Bond and D&O Insurance 111 119 330 353
Net (gains) losses on repossessed and foreclosed properties 26 (190) 450 (575)
Administration and disposition of problem assets 82 113 202 435
Other 1,310 1,237 3,712 3,900
Total noninterest expenses 11,239 10,756 33,932 32,434
Income before income tax 8,422 7,032 23,564 20,351
Income tax expense 1,570 2,157 4,228 6,253
Net income $ 6,852 $ 4,875 $ 19,336 $ 14,098
Basic earnings per common share (in dollars per share) $ 0.20 $ 0.14 $ 0.57 $ 0.42
Diluted earnings per common share (in dollars per share) 0.20 0.14 0.57 0.42
Cash dividends per common share (in dollars per share) $ 0.06 $ 0.05 $ 0.18 $ 0.13