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, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income        
Loans, including fees $ 11,634 $ 11,152 $ 23,390 $ 22,115
Securities        
Taxable 565 501 1,115 1,002
Tax-exempt 441 376 874 720
FHLB Stock 122 111 246 228
Federal funds sold and other short-term investments 111 98 256 184
Total interest income 12,873 12,238 25,881 24,249
Interest expense        
Deposits 439 610 902 1,229
Other borrowings 458 452 900 867
Long-term debt 368 331 733 656
Total interest expense 1,265 1,393 2,535 2,752
Net interest income 11,608 10,845 23,346 21,497
Provision for loan losses (750) (500) (850) (1,500)
Net interest income after provision for loan losses 12,358 11,345 24,196 22,997
Noninterest income        
Service charges and fees 1,112 1,097 2,159 2,098
Net gains on mortgage loans 572 821 1,060 1,544
Trust fees 788 723 1,496 1,457
ATM and debit card fees 1,257 1,219 2,443 2,329
Gain on sale of securities 10 0 99 83
Bank owned life insurance ("BOLI") income 158 171 602 333
Other 639 481 1,285 963
Total noninterest income 4,536 4,512 9,144 8,807
Noninterest expense        
Salaries and benefits 6,168 6,134 12,355 12,316
Occupancy of premises 901 903 1,883 1,875
Furniture and equipment 839 813 1,704 1,596
Legal and professional 188 191 347 431
Marketing and promotion 275 263 550 568
Data processing 688 648 1,347 1,226
FDIC assessment 220 289 472 571
Interchange and other card expense 308 285 594 560
Bond and D&O Insurance 131 146 263 292
Net losses (gains) on repossessed and foreclosed properties 258 (31) 294 420
Administration and disposition of problem assets 202 284 577 660
Other 1,292 1,297 2,635 2,569
Total noninterest expenses 11,470 11,222 23,021 23,084
Income before income tax 5,424 4,635 10,319 8,720
Income tax expense 1,679 1,420 3,079 2,665
Net income $ 3,745 $ 3,215 $ 7,240 $ 6,055
Basic earnings per common share (in dollars per share) $ 0.11 $ 0.09 $ 0.21 $ 0.18
Diluted earnings per common share (in dollars per share) 0.11 0.09 0.21 0.18
Cash dividends per common share (in dollars per share) $ 0.03 $ 0.03 $ 0.06 $ 0.05