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, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest income        
Loans, including fees $ 11,250 $ 10,639 $ 33,365 $ 32,129
Securities        
Taxable 529 504 1,531 1,503
Tax-exempt 394 309 1,114 828
FHLB Stock 120 105 348 365
Federal funds sold and other short-term investments 134 117 318 347
Total interest income 12,427 11,674 36,676 35,172
Interest expense        
Deposits 521 614 1,749 1,974
Other borrowings 449 425 1,317 1,283
Subordinated and long-term debt 336 331 992 980
Total interest expense 1,306 1,370 4,058 4,237
Net interest income 11,121 10,304 32,618 30,935
Provision for loan losses (250) (750) (1,750) (2,750)
Net interest income after provision for loan losses 11,371 11,054 34,368 33,685
Noninterest income        
Service charges and fees 1,150 1,163 3,248 3,219
Net gains on mortgage loans 705 679 2,249 1,405
Trust fees 711 669 2,168 2,002
ATM and debit card fees 1,220 1,170 3,549 3,425
Gain on sales of securities 36 0 119 51
Other 662 622 1,958 1,779
Total noninterest income 4,484 4,303 13,291 11,881
Noninterest expense        
Salaries and benefits 6,158 5,810 18,474 17,177
Occupancy of premises 948 897 2,823 2,837
Furniture and equipment 835 803 2,431 2,394
Legal and professional 231 196 661 639
Marketing and promotion 263 264 831 816
Data processing 619 635 1,845 1,807
FDIC assessment 283 287 854 934
Interchange and other card expense 304 288 864 825
Bond and D&O Insurance 147 166 438 493
Net (gains) losses on repossessed and foreclosed properties (160) 449 260 634
Administration and disposition of problem assets 393 412 1,053 1,584
Other 1,233 1,182 3,804 3,657
Total noninterest expenses 11,254 11,389 34,338 33,797
Income before income tax 4,601 3,968 13,321 11,769
Income tax expense 1,400 1,206 4,065 3,614
Net income $ 3,201 $ 2,762 $ 9,256 $ 8,155
Basic earnings per common share (in dollars per share) $ 0.09 $ 0.08 $ 0.27 $ 0.24
Diluted earnings per common share (in dollars per share) 0.09 0.08 0.27 0.24
Cash dividends per common share (in dollars per share) $ 0.03 $ 0.02 $ 0.08 $ 0.06