XML 72 R4.htm IDEA: XBRL DOCUMENT v3.3.0.814
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest income        
Interest and fees on loans held for investment $ 22,259 $ 23,407 $ 65,999 $ 69,651
Interest on securities - taxable 1,062 1,196 3,167 4,830
Interest on securities - nontaxable 994 1,108 3,013 3,329
Interest on deposits in banks 33 40 246 117
Total interest income 24,348 25,751 72,425 77,927
Interest expense        
Interest on deposits 1,384 1,782 4,676 5,505
Interest on short-term borrowings 497 526 1,486 1,511
Interest on long-term debt 798 1,428 2,685 4,803
Total interest expense 2,679 3,736 8,847 11,819
Net interest income 21,669 22,015 63,578 66,108
Provision for (recovery of) loan losses 381 (2,439) 1,757 633
Net interest income after provision for loan losses 21,288 24,454 61,821 65,475
Noninterest income        
Wealth management 790 670 2,231 2,396
Service charges on deposit accounts 3,744 3,606 10,154 10,099
Other service charges and fees 1,974 1,852 5,987 5,473
Insurance commissions 1,650 1,695 5,336 5,113
Impairment losses on securities   (219)   (737)
Portion of losses recognized in other comprehensive income 0 0 0 0
Net impairment losses recognized in earnings   (219)   (737)
Net (loss) gain on sale of securities (39) 320 151 306
Net FDIC indemnification asset amortization (1,768) (1,096) (5,179) (3,166)
Net gain on acquisition 0 0 0 0
Other operating income 723 839 3,367 3,021
Total noninterest income 7,074 7,667 22,047 22,505
Noninterest expense        
Salaries and employee benefits 9,971 9,924 29,357 29,872
Occupancy expense of bank premises 1,443 1,469 4,404 4,825
Furniture and equipment 1,259 1,212 3,854 3,611
Amortization of intangible assets 281 179 837 532
FDIC premiums and assessments 377 419 1,181 1,311
FHLB debt prepayment fees   3,047 1,702 3,047
Merger, acquisition, and divestiture expense   285 86 285
Other operating expense 5,688 4,934 15,667 15,329
Total noninterest expense 19,019 21,469 57,088 58,812
Income before income taxes 9,343 10,652 26,780 29,168
Income tax expense 3,084 3,609 8,388 9,393
Net income 6,259 7,043 18,392 19,775
Dividends on preferred stock   228 105 683
Net income available to common shareholders $ 6,259 $ 6,815 $ 18,287 $ 19,092
Basic earnings per common share $ 0.34 $ 0.37 $ 0.98 $ 1.04
Diluted earnings per common share 0.34 0.36 0.97 1.02
Cash dividends per common share $ 0.14 $ 0.13 $ 0.40 $ 0.37
Weighted average basic shares outstanding 18,470,348 18,402,764 18,644,679 18,407,173
Weighted average diluted shares outstanding 18,500,975 19,466,126 18,895,909 19,472,136