XML 72 R4.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest income        
Interest and fees on loans held for investment $ 21,826 $ 23,410 $ 43,740 $ 46,244
Interest on securities - taxable 1,070 1,537 2,105 3,634
Interest on securities - nontaxable 1,003 1,099 2,019 2,221
Interest on deposits in banks 80 47 213 77
Total interest income 23,979 26,093 48,077 52,176
Interest expense        
Interest on deposits 1,562 1,835 3,292 3,723
Interest on short-term borrowings 499 483 989 985
Interest on long-term debt 848 1,707 1,887 3,375
Total interest expense 2,909 4,025 6,168 8,083
Net interest income 21,070 22,068 41,909 44,093
Provision for loan losses 276 1,279 1,376 3,072
Net interest income after provision for loan losses 20,794 20,789 40,533 41,021
Noninterest income        
Wealth management 775 718 1,441 1,726
Service charges on deposit accounts 3,507 3,423 6,410 6,493
Other service charges and fees 2,005 1,850 4,013 3,621
Insurance commissions 1,559 1,454 3,686 3,418
Impairment losses on securities   (254)   (518)
Portion of losses recognized in other comprehensive income 0 0 0 0
Net impairment losses recognized in earnings   (254)   (518)
Net gain (loss) on sale of securities 213 (59) 190 (14)
Net FDIC indemnification asset amortization (1,846) (936) (3,411) (2,070)
Other operating income 1,924 1,408 2,644 2,182
Total noninterest income 8,137 7,604 14,973 14,838
Noninterest expense        
Salaries and employee benefits 9,693 10,043 19,386 19,948
Occupancy expense of bank premises 1,427 1,578 2,961 3,356
Furniture and equipment 1,358 1,205 2,595 2,399
Amortization of intangible assets 279 178 556 353
FDIC premiums and assessments 389 458 804 892
FHLB debt prepayment fees 1,702   1,702  
Merger, acquisition, and divestiture expense     86  
Other operating expense 5,441 4,701 9,979 10,395
Total noninterest expense 20,289 18,163 38,069 37,343
Income before income taxes 8,642 10,230 17,437 18,516
Income tax expense 2,467 3,223 5,304 5,784
Net income 6,175 7,007 12,133 12,732
Dividends on preferred stock   227 105 455
Net income available to common shareholders $ 6,175 $ 6,780 $ 12,028 $ 12,277
Basic earnings per common share $ 0.33 $ 0.37 $ 0.64 $ 0.67
Diluted earnings per common share 0.33 0.36 0.64 0.65
Cash dividends per common share $ 0.13 $ 0.12 $ 0.26 $ 0.24
Weighted average basic shares outstanding 18,831,742 18,395,996 18,733,288 18,409,414
Weighted average diluted shares outstanding 18,860,119 19,457,237 19,095,408 19,475,333