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Condensed Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Interest income        
Interest and fees on loans held for investment $ 23,407 $ 23,439 $ 69,651 $ 72,547
Interest on securities - taxable 1,196 1,999 4,830 5,754
Interest on securities - nontaxable 1,108 1,216 3,329 3,631
Interest on deposits in banks 40 42 117 180
Total interest income 25,751 26,696 77,927 82,112
Interest expense        
Interest on deposits 1,782 2,147 5,505 6,792
Interest on short-term borrowings 526 517 1,511 1,686
Interest on long-term debt 1,428 1,706 4,803 5,084
Total interest expense 3,736 4,370 11,819 13,562
Net interest income 22,015 22,326 66,108 68,550
(Recovery of) provision for loan losses (2,439) 2,333 633 6,680
Net interest income after provision for loan losses 24,454 19,993 65,475 61,870
Noninterest income        
Wealth management 670 863 2,396 2,680
Service charges on deposit accounts 3,606 3,582 10,099 10,065
Other service charges and fees 1,852 1,777 5,473 5,356
Insurance commissions 1,695 1,559 5,113 4,533
Impairment losses on securities (219)   (737)  
Portion of losses recognized in other comprehensive income            
Net impairment losses recognized in earnings (219)   (737)  
Net gain (loss) on sale of securities 320 (39) 306 191
Net FDIC indemnification asset amortization (1,096) (1,089) (3,166) (4,290)
Other operating income 839 1,458 3,021 4,285
Total noninterest income 7,667 8,111 22,505 22,820
Noninterest expense        
Salaries and employee benefits 9,924 11,080 29,872 31,150
Occupancy expense of bank premises 1,469 1,700 4,825 5,350
Furniture and equipment 1,212 1,288 3,611 3,931
Amortization of intangible assets 179 183 532 545
FDIC premiums and assessments 419 460 1,311 1,401
FHLB debt prepayment fees 3,047   3,047  
Merger, acquisition, and divestiture expense 285   285 57
Other operating expense 4,934 5,442 15,329 15,796
Total noninterest expense 21,469 20,153 58,812 58,230
Income before income taxes 10,652 7,951 29,168 26,460
Income tax expense 3,609 2,539 9,393 8,472
Net income 7,043 5,412 19,775 17,988
Dividends on preferred stock 228 261 683 772
Net income available to common shareholders $ 6,815 $ 5,151 $ 19,092 $ 17,216
Basic earnings per common share $ 0.37 $ 0.26 $ 1.04 $ 0.86
Diluted earnings per common share $ 0.36 $ 0.26 $ 1.02 $ 0.85
Cash dividends per common share $ 0.13 $ 0.12 $ 0.37 $ 0.36
Weighted average basic shares outstanding 18,402,764 20,008,861 18,407,173 20,013,095
Weighted average diluted shares outstanding 19,466,126 21,123,788 19,472,136 21,196,063