XML 19 R4.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Interest and fees on loans:      
Taxable $ 74,352 $ 64,946 $ 59,902
Tax-exempt 3,666 3,163 3,031
Interest and dividends on investment securities:      
Taxable 3,799 2,949 2,515
Tax-exempt 2,621 2,999 3,438
Dividends 72 52 48
Interest on interest-bearing deposits in other banks 151 133 50
Total interest income 84,661 74,242 68,984
Interest expense:      
Interest on deposits 9,346 6,450 5,429
Interest on short-term borrowings 2,738 900 402
Interest on long-term debt 1,238 1,348 1,420
Total interest expense 13,322 8,698 7,251
Net interest income 71,339 65,544 61,733
Provision for loan losses 4,200 4,800 5,000
Net interest income after provision for loan losses 67,139 60,744 56,733
Noninterest income:      
Mortgage banking income 627 784 885
Life insurance investment income 757 769 791
Net gains on investment securities 14   623
Net gain on sale of credit card loans 291    
Net gain on sale of merchant services business   2,278  
Total noninterest income 13,659 17,186 15,888
Noninterest expense:      
Salaries and employee benefits expense 28,407 26,670 22,434
Net occupancy and equipment expense 10,897 9,975 9,422
Merchant services expense 9 1,808 2,993
Amortization of intangible assets 881 1,034 1,186
Professional fees and outside services 2,414 2,277 2,128
FDIC insurance and assessments 1,093 826 1,101
Donations 1,339 1,188 1,006
Other expenses 7,447 7,515 7,760
Total noninterest expense 52,487 51,293 48,030
Income before income taxes 28,311 26,637 24,591
Income tax expense 3,391 8,180 5,008
Net income 24,920 18,457 19,583
Other comprehensive (loss) income:      
Unrealized (loss) gain on investment securities available-for-sale (2,014) (1,790) (3,417)
Reclassification adjustment for net gain on sales included in net income     (623)
Change in benefit plan liabilities (591) 318 917
Change in derivative value 246    
Other comprehensive loss (2,359) (1,472) (3,123)
Income tax benefit (496) (515) (1,093)
Other comprehensive loss, net of income taxes (1,863) (957) (2,030)
Comprehensive income $ 23,648 $ 17,500 $ 17,553
Net income:      
Basic $ 3.37 $ 2.50 $ 2.65
Diluted $ 3.37 $ 2.50 $ 2.65
Average common shares outstanding:      
Basic 7,397,797 7,395,837 7,396,716
Diluted 7,397,797 7,395,837 7,396,716
Dividends declared $ 1.31 $ 1.26 $ 1.24
Service charges, fees and commissions      
Noninterest income:      
Revenue from contracts with customers $ 7,678 $ 7,344 $ 6,116
Merchant services income      
Noninterest income:      
Revenue from contracts with customers 809 2,543 4,199
Commission and fees on fiduciary activities      
Noninterest income:      
Revenue from contracts with customers 2,036 2,057 1,976
Wealth management income      
Noninterest income:      
Revenue from contracts with customers $ 1,447 $ 1,411 $ 1,298