XML 123 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Income and Comprehensive Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Interest and Dividend Income:      
Loans including fees $ 53,927 $ 49,760 $ 48,324
Securities:      
Taxable 13,456 14,688 14,395
Tax-exempt 3,828 3,595 2,957
Dividends 205 86 36
Total interest and dividend income 71,416 68,129 65,712
Interest Expense:      
Deposits 7,995 10,875 13,625
Borrowed funds 3,447 3,245 3,176
Subordinated debentures (includes $400, $390, and $402 accumulated other comprehensive income reclassification for change in fair value of interest rate swap agreements in 2013, 2012, and 2011) 770 800 778
Total interest expense 12,212 14,920 17,579
Net Interest Income 59,204 53,209 48,133
Provision for loan losses 6,138 6,381 4,937
Net Interest Income After Provision for Loan Losses 53,066 46,828 43,196
Non-Interest Income:      
Wealth and asset management fees 2,426 1,819 1,691
Service charges on deposit accounts 4,272 4,106 4,233
Other service charges and fees 2,179 1,868 1,626
Net realized gains on trading securities 579 298 30
Net unrealized gains on trading securities 149 266 34
Mortgage banking 940 990 735
Bank owned life insurance 1,552 973 930
Other 1,314 965 1,224
Total Fees and Commissions 13,411 11,285 10,503
Total other-than-temporary impairment losses on available-for-sale securities 0 0 (398)
Less portion of loss recognized in other comprehensive income 0 0 0
Net impairment losses recognized in earnings 0 0 (398)
Net realized gains on available-for-sale securities (includes $355, $1,379, and $614 accumulated other comprehensive income reclassifications for net realized gains on available-for-sale securities in 2013, 2012, and 2011) 355 1,379 614
Net impairment losses recognized in earnings and realized gains on available-for-sale securities 355 1,379 216
Total non-interest income 13,766 12,664 10,719
Non-Interest Expenses:      
Salaries 15,467 13,106 12,349
Employee benefits 6,250 5,787 4,936
Net occupancy expense 5,506 4,651 4,416
Amortization of core deposit intangible 251 0 0
Data processing 3,469 2,791 2,754
State and local taxes 1,549 1,474 1,275
Legal, professional and examination fees 1,318 1,265 956
Advertising 939 859 822
FDIC insurance 1,266 1,115 1,259
Directors fees and benefits 776 666 591
Merger costs 2,396 0 0
Other 4,626 4,231 3,924
Total non-interest expenses 43,813 35,945 33,282
Income Before Income Taxes 23,019 23,547 20,633
Income Tax Expense (includes ($16), $346, and $74 income tax expense reclassification items in 2013, 2012, and 2011) 6,340 6,411 5,529
Net Income 16,679 17,136 15,104
Other Comprehensive Income (Loss):      
Net change in unrealized gains/losses on available-for-sale securities, net of reclassification and tax (23,675) 3,561 14,441
Change in actuarial gain, net of amortization and tax, for post-employment health care plan, net of tax (103) (349) (485)
Change in fair value of interest rate swap agreements designated as a cash flow hedge, net of tax 409 (49) (522)
Total other comprehensive income (loss) (23,369) 3,163 13,434
Comprehensive Income (Loss) $ (6,690) $ 20,299 $ 28,538
Earnings Per Share:      
Basic $ 1.29 $ 1.38 $ 1.23
Diluted $ 1.29 $ 1.38 $ 1.23