XML 14 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest and fees on loans:        
Taxable $ 15,945 $ 14,760 $ 31,486 $ 29,106
Tax-exempt 795 780 1,521 1,531
Interest and dividends on investment securities:        
Taxable 719 617 1,416 1,304
Tax-exempt 752 875 1,546 1,750
Dividends 12 11 24 21
Interest on interest-bearing deposits in other banks 38 15 67 32
Total interest income 18,261 17,058 36,060 33,744
Interest expense:        
Interest on deposits 1,529 1,322 2,963 2,605
Interest on short-term borrowings 248 89 422 166
Interest on long-term debt 349 354 697 714
Total interest expense 2,126 1,765 4,082 3,485
Net interest income 16,135 15,293 31,978 30,259
Provision for loan losses 1,200 1,200 2,400 2,400
Net interest income after provision for loan losses 14,935 14,093 29,578 27,859
Noninterest income:        
Service charges, fees and commissions 1,682 1,527 3,254 2,971
Merchant services income 1,178 1,038 2,193 1,952
Commission and fees on fiduciary activities 494 474 1,002 956
Wealth management income 348 296 667 708
Mortgage banking income 204 195 383 399
Life insurance investment income 195 202 384 395
Net gain on sale of investment securities available-for-sale   381   623
Net gain on sale of merchant services business 2,278   2,278  
Total noninterest income 6,379 4,113 10,161 8,004
Noninterest expense:        
Salaries and employee benefits expense 7,026 5,904 13,301 11,236
Net occupancy and equipment expense 2,450 2,245 4,844 4,682
Merchant services expense 1,033 748 1,763 1,380
Amortization of intangible assets 258 297 526 602
Other expenses 3,235 2,919 5,924 5,831
Total noninterest expense 14,002 12,113 26,358 23,731
Income before income taxes 7,312 6,093 13,381 12,132
Income tax expense 1,653 1,238 2,922 2,395
Net income 5,659 4,855 10,459 9,737
Other comprehensive income:        
Unrealized gain on investment securities available-for-sale 1,184 1,128 1,457 2,123
Reclassification adjustment for net gain on sales included in net income   (381)   (623)
Other comprehensive income 1,184 747 1,457 1,500
Income tax related to other comprehensive loss 415 261 510 525
Other comprehensive income, net of income taxes 769 486 947 975
Comprehensive income $ 6,428 $ 5,341 $ 11,406 $ 10,712
Net income:        
Basic $ 0.76 $ 0.66 $ 1.41 $ 1.32
Diluted $ 0.76 $ 0.66 $ 1.41 $ 1.32
Average common shares outstanding:        
Basic 7,396,163 7,395,127 7,395,158 7,399,318
Diluted 7,396,163 7,395,127 7,395,158 7,399,318
Dividends declared $ 0.31 $ 0.31 $ 0.62 $ 0.62