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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Interest income      
Interest and fees on loans $ 67,472 $ 61,754 $ 64,823
Interest on investment securities      
Securities of U.S. government agencies 5,155 4,709 4,502
Obligations of state and political subdivisions 2,339 2,155 2,273
Corporate debt securities and other 256 685 1,031
Interest on federal funds sold and due from banks 208 135 161
Total interest income 75,430 69,438 72,790
Interest expense      
Interest on interest-bearing transaction accounts 109 115 99
Interest on savings accounts 58 51 46
Interest on money market accounts 445 495 550
Interest on time accounts 743 853 917
Interest on FHLB and overnight borrowings 478 317 315
Interest on subordinated debentures 436 420 422
Total interest expense 2,269 2,251 2,349
Net interest income 73,161 67,187 70,441
(Reversal of) provision for loan losses (1,850) 500 750
Net interest income after provision for loan losses 75,011 66,687 69,691
Non-interest income      
Service charges on deposit accounts 1,789 1,979 2,167
Wealth Management and Trust Services 2,090 2,391 2,309
Debit card interchange fees 1,503 1,445 1,378
Merchant interchange fees 449 545 803
Earnings on bank-owned life Insurance 844 814 841
Dividends on FHLB stock 1,153 1,003 563
Gains on investment securities, net 425 79 80
Other income 908 937 900
Total non-interest income 9,161 9,193 9,041
Non-interest expense      
Salaries and related benefits 26,663 25,764 25,005
Occupancy and equipment 5,081 5,498 5,470
Depreciation and amortization 1,822 1,968 1,585
Federal Deposit Insurance Corporation insurance 825 997 1,032
Data processing 3,625 3,318 3,665
Professional services 2,044 2,121 2,230
Directors' expense 553 826 628
Information technology 862 736 675
Provision for (reversal of) losses on off-balance sheet commitments 150 (263) 334
Other expense 6,067 5,984 6,639
Total non-interest expense 47,692 46,949 47,263
Income before provision for income taxes 36,480 28,931 31,469
Provision for income taxes 13,346 10,490 11,698
Net income $ 23,134 $ 18,441 $ 19,771
Net income per common share:      
Basic (in dollars per share) $ 3.81 $ 3.09 $ 3.35
Diluted (in dollars per share) $ 3.78 $ 3.04 $ 3.29
Weighted average shares:      
Basic (in shares) 6,073 5,966 5,893
Diluted (in shares) 6,115 6,065 6,006
Dividends declared per common share (in dollars per share) $ 1.02 $ 0.90 $ 0.80
Comprehensive income:      
Net income $ 23,134 $ 18,441 $ 19,771
Other comprehensive income      
Change in net unrealized gain or loss on available-for-sale securities (5,658) (1,420) 2,939
Reclassification adjustment for (gains) losses on available-for-sale securities included in net income (394) (6) 24
Net change in unrealized gain or loss on available-for-sale securities, before tax (6,052) (1,426) 2,963
Deferred tax (benefit) expense (2,566) (531) 1,203
Other comprehensive (loss) income, net of tax (3,486) (895) 1,760
Comprehensive income $ 19,648 $ 17,546 $ 21,531