XML 55 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
INTEREST AND DIVIDEND INCOME:    
Loans including fees $ 17,085 $ 12,302
Securities:    
Taxable 3,396 3,409
Tax-exempt 909 957
Dividends 47 36
Total interest and dividend income 21,437 16,704
INTEREST EXPENSE:    
Deposits 2,072 2,234
Borrowed funds 898 829
Subordinated debentures (includes $97 accumulated other comprehensive income reclassification for change in fair value of interest rate swap agreements in both 2014 and 2013) 187 190
Total interest expense 3,157 3,253
NET INTEREST INCOME 18,280 13,451
Provision (benefit) for loan losses 1,019 930
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 17,261 12,521
NON-INTEREST INCOME:    
Wealth and asset management fees 672 574
Service charges on deposit accounts 1,041 942
Other service charges and fees 568 430
Net realized gains on available-for-sale securities (includes $66 and $76 accumulated other comprehensive income reclassifications for net realized gains on available-for-sale securities in 2014 and 2013, respectively) 66 76
Net realized and unrealized gains (losses) on trading securities (25) 303
Mortgage banking 175 255
Bank owned life insurance 240 262
Other 468 229
Total non-interest income 3,205 3,071
NON-INTEREST EXPENSES:    
Salaries and benefits 6,835 5,197
Net occupancy expense 1,761 1,317
Amortization of core deposit intangible 303  
Data processing 1,103 767
State and local taxes 562 439
Legal, professional, and examination fees 442 311
Advertising 311 246
FDIC insurance premiums 340 279
Merger costs   103
Other 1,604 1,023
Total non-interest expenses 13,261 9,682
INCOME BEFORE INCOME TAXES 7,205 5,910
INCOME TAX EXPENSE (includes ($11) and ($7) income tax expense from reclassification items in 2014 and 2013, respectively) 2,039 1,613
NET INCOME $ 5,166 $ 4,297
EARNINGS PER SHARE:    
Basic $ 0.36 $ 0.34
Diluted $ 0.36 $ 0.34
DIVIDENDS PER SHARE:    
Cash dividends per share $ 0.165 $ 0.165