2015

2014

2013

(In Thousands)

Statements of Income

Income

Dividends from subsidiary bank

$27,000

$36,000

$24,000

Interest and dividend income

5

22

20

Gain on redemption of trust preferred securities and sale of non-marketable securities

1,416

--

Other income (loss)

(7)

(20)

13

28,414

36,002

24,033

Expense

Operating expenses

1,139

1,198

1,132

Interest expense

714

567

560

1,853

1,765

1,692

Income before income tax and

equity in undistributed earnings

of subsidiaries

26,561

34,237

22,341

Credit for income taxes

(91)

(388)

(365)

Income before equity in earnings

of subsidiaries

26,652

34,625

22,706

Equity in undistributed earnings of

subsidiaries

19,850

8,904

11,023

Net income

$46,502

$43,529

$33,729