XML 113 R4.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Loans, including fees:      
Taxable $ 117,296 $ 111,349 $ 104,258
Federally tax exempt 2,846 2,685 2,209
Securities:      
Taxable 14,854 14,459 11,513
Federally tax exempt 5,728 7,154 7,905
Interest-bearing deposits in bank 2,951 1,717 1,657
Other interest and dividend income 60 68 51
Total interest and dividend income 143,735 137,432 127,593
INTEREST EXPENSE      
Deposits 7,932 5,887 4,959
Securities sold under agreements to repurchase 72 48 45
Borrowings 9 260 66
Subordinated debentures 1,922 1,795 1,525
Total interest expense 9,935 7,990 6,595
Net interest income 133,800 129,442 120,998
PROVISION FOR LOAN LOSSES 3,404 5,697 3,139
Net interest income after provision for loan losses 130,396 123,745 117,859
NONINTEREST INCOME      
Mortgage servicing 3,143 3,261 3,398
Mortgage servicing rights fair value adjustment (2,400) 629 (315)
Gains on sale of mortgage loans 3,092 2,872 4,506
Gains (losses) on securities (5) (2,663) (1,275)
Gains (losses) on foreclosed assets 940 (1,337) 282
Gains (losses) on other assets 944 787 (2,146)
Other noninterest income 4,108 3,560 4,976
Total noninterest income 32,751 31,240 33,171
NONINTEREST EXPENSE      
Salaries 49,345 49,663 51,386
Employee benefits 9,564 6,244 5,939
Occupancy of bank premises 6,867 7,352 7,308
Furniture and equipment 2,813 3,000 3,405
Data processing 5,570 5,234 4,850
Marketing and customer relations 3,873 4,211 4,523
Amortization of intangible assets 1,423 1,559 1,916
FDIC insurance 198 942 960
Loan collection and servicing 2,633 2,710 2,979
Foreclosed assets 676 772 1,293
Net adjustments on FDIC asset and true-up liability     999
Other noninterest expense 8,064 8,630 8,499
Total noninterest expense 91,026 90,317 94,057
INCOME BEFORE INCOME TAX EXPENSE 72,121 64,668 56,973
INCOME TAX EXPENSE 5,256 869 870
NET INCOME $ 66,865 $ 63,799 $ 56,103
EARNINGS PER SHARE - BASIC $ 3.33 $ 3.54 $ 3.10
EARNINGS PER SHARE - DILUTED $ 3.33 $ 3.54 $ 3.10
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING 20,090,270 18,047,332 18,070,692
Card income      
NONINTEREST INCOME      
Revenue $ 7,765 $ 7,381 $ 6,780
Service charges on deposit accounts      
NONINTEREST INCOME      
Revenue 7,870 8,141 8,170
Wealth management fees      
NONINTEREST INCOME      
Revenue 7,127 7,402 7,314
Title insurance activity      
NONINTEREST INCOME      
Revenue $ 167 $ 1,207 $ 1,481