XML 81 R4.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Interest income:      
Interest and fees on loans, including loans held for sale $ 164,991 $ 154,552 $ 141,497
Interest and dividends on securities:      
Taxable 12,516 10,015 8,715
Tax exempt 2,354 2,796 3,011
Interest and dividends on Federal Reserve Bank and Federal Home Loan Bank stock 947 1,303 1,189
Interest on Federal Reserve Bank deposits 4,434 2,525 1,068
Other, including interest on federal funds sold 156 259 216
Total interest income 185,398 171,450 155,696
Interest expense:      
Interest on deposits 33,371 23,714 14,350
Interest on repurchase agreements and federal funds purchased 4,631 3,312 1,832
Interest on advances from Federal Home Loan Bank 39 27 427
Interest on long-term debt 2,472 2,242 1,685
Total interest expense 40,513 29,295 18,294
Net interest income 144,885 142,155 137,402
Provision for loan losses 4,819 6,167 7,521
Net interest income after provision for loan losses 140,066 135,988 129,881
Noninterest income:      
Service charges on deposit accounts 26,359 25,974 25,121
Gains on sales of loans, net 1,880 1,288 1,320
Trust and wealth management income 10,804 11,313 10,453
Loan related fees 2,742 3,729 3,678
Bank owned life insurance 2,397 3,672 2,172
Brokerage revenue 1,367 1,354 1,324
Securities gains (losses) 783 (85) 73
Other noninterest income 3,852 4,707 4,367
Total noninterest income 50,184 51,952 48,508
Noninterest expense:      
Officer salaries and employee benefits 12,614 12,906 11,823
Other salaries and employee benefits 50,413 48,656 47,006
Occupancy, net 7,845 8,167 8,072
Equipment 3,000 2,878 3,049
Data processing 7,417 6,680 7,100
Bank franchise tax 6,771 6,557 5,478
Legal fees 1,968 1,637 1,668
Professional fees 2,188 2,093 1,991
Advertising and marketing 3,283 2,995 2,721
FDIC insurance 266 1,171 1,239
Other real estate owned provision and expense 5,490 4,324 4,500
Repossession expense 1,042 1,249 911
Amortization of limited partnership investments 3,422 2,527 2,419
Other noninterest expense 12,539 15,558 11,901
Total noninterest expense 118,258 117,398 109,878
Income before income taxes 71,992 70,542 68,511
Income taxes 7,452 11,314 17,018
Net income 64,540 59,228 51,493
Unrealized holding gains (losses) on securities available-for-sale:      
Unrealized holding gains (losses) arising during the period 14,270 (5,393) (820)
Less: Reclassification adjustments for realized gains (losses) included in net income 3 (821) 73
Tax expense (benefit) 3,403 (960) (312)
Other comprehensive income (loss), net of tax 10,864 (3,612) (581)
Comprehensive income $ 75,404 $ 55,616 $ 50,912
Basic earnings per share (in dollars per share) $ 3.64 $ 3.35 $ 2.92
Diluted earnings per share (in dollars per share) $ 3.64 $ 3.35 $ 2.92
Weighted average shares outstanding-basic (in shares) 17,724 17,687 17,631
Weighted average shares outstanding-diluted (in shares) 17,740 17,703 17,653