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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest and fees on loans:        
Taxable $ 13,341 $ 13,876 $ 40,072 $ 41,035
Tax-exempt 585 465 1,714 1,607
Interest and dividends on investment securities:        
Taxable 792 1,007 2,508 2,877
Tax-exempt 858 816 2,498 2,462
Dividends 9 2 24 32
Interest on interest-bearing deposits in other banks 13 10 39 29
Interest on federal funds sold   16 9 64
Total interest income 15,598 16,192 46,864 48,106
Interest expense:        
Interest on deposits 1,229 1,354 3,689 4,125
Interest on short-term borrowings 11 9 23 67
Interest on long-term debt 245 279 756 864
Total interest expense 1,485 1,642 4,468 5,056
Net interest income 14,113 14,550 42,396 43,050
Provision for loan losses 900 666 2,400 2,724
Net interest income after provision for loan losses 13,213 13,884 39,996 40,326
Noninterest income:        
Service charges, fees and commissions 1,531 1,634 4,685 4,815
Merchant services income 1,183 1,002 2,936 2,784
Commission and fees on fiduciary activities 541 575 1,487 1,690
Wealth management income 224 217 627 569
Mortgage banking income 197 142 667 434
Life insurance investment income 192 109 569 565
Net gain on sale of investment securities available-for-sale 147 701 979 861
Total noninterest income 4,015 4,380 11,950 11,718
Noninterest expense:        
Salaries and employee benefits expense 5,397 4,754 16,243 14,883
Net occupancy and equipment expense 2,246 2,020 6,863 6,080
Merchant services expense 823 662 2,006 1,722
Amortization of intangible assets 296 334 896 1,010
Acquisition related expense   109   1,725
Other expenses 2,944 3,205 8,303 9,190
Total noninterest expense 11,706 11,084 34,311 34,610
Income before income taxes 5,522 7,180 17,635 17,434
Income tax expense 1,113 1,944 3,751 4,169
Net income 4,409 5,236 13,884 13,265
Other comprehensive income (loss):        
Unrealized gain (loss) on investment securities available-for-sale 826 (825) 134 2,811
Reclassification adjustment for net gain on sales included in net income (147) (701) (979) (861)
Other comprehensive income (loss) 679 (1,526) (845) 1,950
Income tax expense (benefit) related to other comprehensive loss 237 (534) (296) 682
Other comprehensive income (loss), net of income taxes 442 (992) (549) 1,268
Comprehensive income $ 4,851 $ 4,244 $ 13,335 $ 14,533
Net income:        
Basic $ 0.58 $ 0.70 $ 1.84 $ 1.76
Diluted $ 0.58 $ 0.70 $ 1.84 $ 1.76
Average common shares outstanding:        
Basic 7,536,824 7,548,358 7,543,751 7,548,983
Diluted 7,536,824 7,548,358 7,543,751 7,566,456
Dividends declared $ 0.31 $ 0.31 $ 0.93 $ 0.93