XML 14 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest and fees on loans:        
Taxable $ 18,239 $ 15,945 $ 35,748 $ 31,486
Tax-exempt 871 795 1,741 1,521
Interest and dividends on investment securities:        
Taxable 934 719 1,792 1,416
Tax-exempt 661 752 1,362 1,546
Dividends 19 12 35 24
Interest on interest-bearing deposits in other banks 42 38 82 67
Total interest income 20,766 18,261 40,760 36,060
Interest expense:        
Interest on deposits 1,959 1,529 3,793 2,963
Interest on short-term borrowings 841 248 1,508 422
Interest on long-term debt 315 349 621 697
Total interest expense 3,115 2,126 5,922 4,082
Net interest income 17,651 16,135 34,838 31,978
Provision for loan losses 1,050 1,200 2,100 2,400
Net interest income after provision for loan losses 16,601 14,935 32,738 29,578
Noninterest income:        
Service charges, fees and commissions 1,885 1,682 3,973 3,254
Merchant services income 309 1,178 559 2,193
Commission and fees on fiduciary activities 485 494 982 1,002
Wealth management income 332 348 743 667
Mortgage banking income 162 204 309 383
Life insurance investment income 191 195 378 384
Net gain on equity investment securities 8      
Net gain on sale of credit card loans 291   291  
Net gain on sale of merchant services business   2,278   2,278
Total noninterest income 3,663 6,379 7,235 10,161
Noninterest expense:        
Salaries and employee benefits expense 7,390 7,026 14,345 13,301
Net occupancy and equipment expense 2,720 2,450 5,534 4,844
Merchant services expense 1 1,033 3 1,763
Amortization of intangible assets 220 258 450 526
Professional fees and outside services 446 756 1,069 1,285
FDIC insurance and assessments 297 239 583 366
Donations 343 283 656 555
Other expenses 2,079 1,957 3,937 3,718
Total noninterest expense 13,496 14,002 26,577 26,358
Income before income taxes 6,768 7,312 13,396 13,381
Income tax expense 811 1,653 1,585 2,922
Net income 5,957 5,659 11,811 10,459
Other comprehensive (loss) income:        
Unrealized (loss) gain on investment securities available-for-sale (839) 1,184 (3,215) 1,457
Other comprehensive loss (839) 1,184 (3,215) 1,457
Income tax (benefit) expense (176) 415 (677) 510
Other comprehensive (loss) income, net of income taxes (663) 769 (2,538) 947
Comprehensive income $ 5,294 $ 6,428 $ 9,273 $ 11,406
Net income:        
Basic $ 0.81 $ 0.76 $ 1.60 $ 1.41
Diluted $ 0.81 $ 0.76 $ 1.60 $ 1.41
Average common shares outstanding:        
Basic 7,396,533 7,396,163 7,396,519 7,395,158
Diluted 7,396,533 7,396,163 7,396,519 7,395,158
Dividends declared $ 0.33 $ 0.31 $ 0.65 $ 0.62