XML 20 R4.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Interest and Dividend Income      
Loans, including fees $ 56,019 $ 53,035 $ 52,926
Loans held-for-sale 151 189 133
Securities:      
Taxable 15,865 14,037 14,131
Tax exempt 842 542 472
Dividends from Federal Reserve Bank and Federal Home Loan Bank stock 333 306 309
Interest bearing deposits with financial institutions 169 55 73
Total interest and dividend income 73,379 68,164 68,044
Interest Expense      
Savings, NOW, and money market deposits 789 734 738
Time deposits 3,640 3,201 4,500
Other short-term borrowings 106 33 19
Junior subordinated debentures 4,334 4,287 4,919
Senior notes 112    
Subordinated debt 949 814 792
Notes payable and other borrowings 8 7 16
Total interest expense 9,938 9,076 10,984
Net interest and dividend income 63,441 59,088 57,060
Loan loss reserve release 750 (4,400) (3,300)
Net interest and dividend income after release for loan losses 62,691 63,488 60,360
Noninterest Income      
Trust income 5,670 5,953 6,198
Service charges on deposits 6,684 6,820 7,079
Secondary mortgage fees 1,038 907 621
Change in fair value of mortgage servicing rights (919) (1,141) (1,214)
Mortgage servicing gain / (loss), net of changes in fair value 1,724 1,628 1,423
Net gain on sales of mortgage loans 6,343 5,775 3,594
Securities loss, net (2,213) (178) 1,719
Increase in cash surrender value of bank-owned life insurance 1,283 1,277 1,453
Death benefit realized on bank-owned life insurance   115  
Debit card interchange income 4,027 4,028 3,806
(Loss) gain on disposal and transfer of fixed assets (1) (1,119) (121)
Other income 4,938 5,229 4,658
Total noninterest income 28,574 29,294 29,216
Noninterest Expense      
Salaries and employee benefits 36,234 35,061 36,167
Occupancy expense, net 4,612 4,749 4,963
Furniture and equipment expense 4,447 4,430 3,972
FDIC insurance 865 1,334 2,170
General bank insurance 1,109 1,273 1,561
Amortization of core deposit 16   1,177
Advertising expense 1,633 1,340 1,278
Debit card interchange expense 1,455 1,514 1,631
Legal fees 800 1,175 1,333
Other real estate expense, net 2,743 5,191 6,917
Other expense 12,847 12,354 12,510
Total noninterest expense 66,761 68,421 73,679
Income before income taxes 24,504 24,361 15,897
Provision for income taxes 8,820 8,976 5,761
Net income 15,684 15,385 10,136
Preferred stock dividends and accretion of discount   1,873 5,062
Dividends waived upon preferred stock redemption     (5,433)
Gain on preferred stock redemption     (1,348)
Net income available to common stockholders $ 15,684 $ 13,512 $ 11,855
Basic earnings per share (in dollars per share) $ 0.53 $ 0.46 $ 0.46
Diluted earnings per share (in dollars per share) $ 0.53 $ 0.46 $ 0.46