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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income        
Loans $ 21,645 $ 20,178 $ 63,605 $ 54,987
Investment securities - taxable 2,145 3,790 8,378 10,963
Investment securities - tax-exempt 417 309 1,121 1,783
Short-term investments 9 558 101 1,232
Total interest income 24,216 24,835 73,205 68,965
Interest expense        
Deposits 2,483 5,795 10,147 14,402
Securities sold under agreements to repurchase 20 29 72 84
FHLB advances and other 394 443 1,604 1,640
Subordinated notes 501 490 1,504 1,486
Total interest expense 3,398 6,757 13,327 17,612
Net interest income 20,818 18,078 59,878 51,353
Provision for loan losses 2,200 300 5,025 900
Net interest income after provision for loan losses 18,618 17,778 54,853 50,453
Noninterest income        
Service charges on deposit accounts 684 918 2,085 2,508
Interchange income 900 843 2,507 2,422
Other service charges, commissions and fees 168 193 473 583
Swap fees 95 629 527 629
Trust and investment management income 1,713 1,892 5,049 5,399
Brokerage income 751 654 2,069 1,804
Mortgage banking activities 1,985 623 3,926 1,743
Gain on sale of portfolio loans 0 0 2,803 0
Income from life insurance 543 479 1,615 1,505
Investment securities (losses) gains (13) 2,328 (44) 4,731
Other income 35 44 118 188
Total noninterest income 6,861 8,603 21,128 21,512
Noninterest expenses        
Salaries and employee benefits 10,695 10,489 32,352 28,088
Occupancy 1,231 1,133 3,480 3,200
Furniture and equipment 1,203 1,252 3,569 3,415
Data processing 958 830 2,620 2,658
Automated teller and interchange fees 278 270 778 744
Advertising and bank promotions 197 279 1,153 1,348
FDIC insurance 230 (9) 491 397
Other professional services 603 814 2,340 2,078
Directors' compensation 214 228 679 725
Taxes other than income 453 306 904 926
Intangible asset amortization 357 486 1,224 1,096
Merger related and branch consolidation expenses 1,310 471 1,310 7,976
Insurance claim receivable (recovery) write-off 0 0 (486) 615
Other operating expenses 1,536 1,591 5,586 4,327
Total noninterest expenses 19,265 18,140 56,000 57,593
Income before income tax expense 6,214 8,241 19,981 14,372
Income tax expense 1,237 1,340 3,577 1,682
Net income $ 4,977 $ 6,901 $ 16,404 $ 12,690
Per share information:        
Basic earnings per share (in usd per share) $ 0.45 $ 0.63 $ 1.50 $ 1.25
Diluted earnings per share (in usd per share) 0.45 0.62 1.49 1.23
Dividends paid per share (in usd per share) $ 0.17 $ 0.15 $ 0.51 $ 0.45