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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Interest and fees on loans:      
Taxable $ 82,488 $ 74,352 $ 64,946
Tax-exempt 4,309 3,666 3,163
Interest and dividends on investment securities:      
Taxable 4,435 3,799 2,949
Tax-exempt 1,878 2,621 2,999
Dividends 84 72 52
Interest on interest-bearing deposits in other banks 65 151 133
Interest on federal funds sold 122    
Total interest income 93,381 84,661 74,242
Interest expense:      
Interest on deposits 14,995 9,346 6,450
Interest on short-term borrowings 1,642 2,738 900
Interest on long-term debt 1,231 1,238 1,348
Total interest expense 17,868 13,322 8,698
Net interest income 75,513 71,339 65,544
Provision for loan losses 6,100 4,200 4,800
Net interest income after provision for loan losses 69,413 67,139 60,744
Noninterest income:      
Mortgage banking income 600 627 784
Bank owned life insurance income 755 757 769
Net gains on equity investment securities 132 14  
Net gains on sale of investment securities available-for-sale 23    
Net gain on sale of credit card loans   291  
Net gain on sale of merchant services business     2,278
Total noninterest income 15,120 13,659 17,186
Noninterest expense:      
Salaries and employee benefits expense 31,374 28,407 26,670
Net occupancy and equipment expense 11,911 10,897 9,975
Amortization of intangible assets 730 881 1,034
Professional fees and outside services 1,758 2,414 2,277
FDIC insurance and assessments 651 1,093 826
Donations 1,441 1,339 1,188
Other expenses 7,777 7,456 9,323
Total noninterest expense 55,642 52,487 51,293
Income before income taxes 28,891 28,311 26,637
Income tax expense 3,155 3,391 8,180
Net income 25,736 24,920 18,457
Other comprehensive income (loss):      
Unrealized gain (loss) on investment securities available-for-sale 5,109 (2,014) (1,790)
Reclassification adjustment for net gain on sales included in net income (23)    
Change in benefit plan liabilities 639 (591) 318
Net change in derivatives 441    
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax   246  
Other comprehensive gain (loss) 6,166 (2,359) (1,472)
Income tax expense (benefit) 1,295 (496) (515)
Other comprehensive income (loss), net of income taxes 4,871 (1,863) (957)
Comprehensive income $ 30,607 $ 23,648 $ 17,500
Net income:      
Basic $ 3.48 $ 3.37 $ 2.50
Diluted $ 3.48 $ 3.37 $ 2.50
Average common shares outstanding:      
Basic 7,395,429 7,397,797 7,395,837
Diluted 7,395,429 7,397,797 7,395,837
Dividends declared $ 1.37 $ 1.31 $ 1.26
Service charges, fees and commissions      
Noninterest income:      
Revenue from contracts with customers $ 9,026 $ 7,678 $ 7,344
Merchant services income      
Noninterest income:      
Revenue from contracts with customers 973 809 2,543
Commission and fees on fiduciary activities      
Noninterest income:      
Revenue from contracts with customers 2,087 2,036 2,057
Wealth management income      
Noninterest income:      
Revenue from contracts with customers $ 1,524 $ 1,447 $ 1,411