Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

v3.19.2
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
INTEREST INCOME        
Loans, including Fees $ 23,765 $ 20,533 $ 46,381 $ 40,068
Investment Securities:        
Taxable 3,301 2,944 6,688 5,467
Tax Exempt 92 212 218 451
Funds Sold 1,507 730 3,100 1,647
Total Interest Income 28,665 24,419 56,387 47,633
INTEREST EXPENSE        
Deposits 1,988 995 4,087 1,863
Short-Term Borrowings 31 8 66 16
Subordinated Notes Payable 596 552 1,204 1,027
Other Long-Term Borrowings 66 94 138 194
Total Interest Expense 2,681 1,649 5,495 3,100
NET INTEREST INCOME 25,984 22,770 50,892 44,533
Provision for Loan Losses 646 815 1,413 1,560
Net Interest Income After Provision For Loan Losses 25,338 21,955 49,479 42,973
NONINTEREST INCOME        
Other 1,375 1,548 2,981 3,112
Total Noninterest Income 12,770 12,542 25,322 25,019
NONINTEREST EXPENSE        
Compensation 16,437 15,797 32,786 31,708
Occupancy, Net 4,537 4,503 9,046 9,054
Other Real Estate Owned, Net 75 248 438 874
Other 7,347 7,845 14,324 14,663
Total Noninterest Expense 28,396 28,393 56,594 56,299
INCOME BEFORE INCOME TAXES 9,712 6,104 18,207 11,693
Income Tax Expense 2,387 101 4,446 (83)
NET INCOME $ 7,325 $ 6,003 $ 13,761 $ 11,776
BASIC NET INCOME PER SHARE (in dollars per shares) $ 0.44 $ 0.35 $ 0.82 $ 0.69
DILUTED NET INCOME PER SHARE (in dollars per shares) $ 0.44 $ 0.35 $ 0.82 $ 0.69
Average Basic Common Shares Outstanding (in shares) 16,791 17,045 16,791 17,037
Average Diluted Common Shares Outstanding (in shares) 16,818 17,104 16,820 17,089
Deposit fees [Member]        
NONINTEREST INCOME        
Revenue, fees and commissions $ 4,756 $ 4,842 $ 9,531 $ 9,714
Bank card fees [Member]        
NONINTEREST INCOME        
Revenue, fees and commissions 3,036 2,909 5,891 5,720
Wealth Managment fees [Member]        
NONINTEREST INCOME        
Revenue, fees and commissions 2,404 2,037 4,727 4,210
Mortgage banking [Member]        
NONINTEREST INCOME        
Revenue, fees and commissions $ 1,199 $ 1,206 $ 2,192 $ 2,263