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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Interest income      
Interest and fees on loans $ 66,799 $ 67,472 $ 61,754
Interest on investment securities      
Securities of U.S. government agencies 6,463 5,155 4,709
Obligations of state and political subdivisions 2,195 2,339 2,155
Corporate debt securities and other 144 256 685
Interest on federal funds sold and due from banks 995 208 135
Total interest income 76,596 75,430 69,438
Interest expense      
Interest on interest-bearing transaction accounts 108 109 115
Interest on savings accounts 66 58 51
Interest on money market accounts 555 445 495
Interest on time accounts 576 743 853
Interest on FHLB and overnight borrowings 0 478 317
Interest on subordinated debentures 439 436 420
Total interest expense 1,744 2,269 2,251
Net interest income 74,852 73,161 67,187
Provision for (reversal of) loan losses 500 (1,850) 500
Net interest income after provision for loan losses 74,352 75,011 66,687
Non-interest income      
Service charges on deposit accounts 1,784 1,789 1,979
Wealth Management and Trust Services 2,090 2,090 2,391
Debit card interchange fees 1,531 1,503 1,445
Merchant interchange fees 398 449 545
Earnings on bank-owned life Insurance 845 844 814
Dividends on FHLB stock 766 1,153 1,003
(Losses) gains on investment securities, net (185) 425 79
Other income 1,039 908 937
Total non-interest income 8,268 9,161 9,193
Non-interest expense      
Salaries and related benefits 29,958 26,663 25,764
Occupancy and equipment 5,472 5,081 5,498
Depreciation and amortization 1,941 1,822 1,968
Federal Deposit Insurance Corporation insurance 666 825 997
Data processing 4,906 3,625 3,318
Professional services 2,858 2,044 2,121
Directors' expense 720 553 826
Information technology 769 862 736
Provision for losses on off-balance sheet commitments 57 150 (263)
Other expense 6,435 6,067 5,984
Total non-interest expense 53,782 47,692 46,949
Income before provision for income taxes 28,838 36,480 28,931
Provision for income taxes 12,862 13,346 10,490
Net income $ 15,976 $ 23,134 $ 18,441
Net income per common share:      
Basic (in dollars per share) $ 2.58 $ 3.81 $ 3.09
Diluted (in dollars per share) $ 2.55 $ 3.78 $ 3.04
Weighted average shares:      
Basic (in shares) 6,196 6,073 5,966
Diluted (in shares) 6,273 6,115 6,065
Dividends declared per common share (in dollars per share) $ 1.12 $ 1.02 $ 0.90
Comprehensive income:      
Net income $ 15,976 $ 23,134 $ 18,441
Other comprehensive income (loss):      
Change in net unrealized gain or loss on available-for-sale securities 3,671 (5,679) (1,481)
Reclassification adjustment for losses (gains) on available-for-sale securities in net income 185 (394) (6)
Net unrealized loss on securities transferred from available-for-sale to held-to-maturity (3,036) 0 0
Amortization of net unrealized losses on securities transferred from available-for-sale to held-to-maturity 426 21 61
Subtotal 1,246 (6,052) (1,426)
Deferred tax expense (benefit) 439 (2,566) (531)
Other comprehensive income (loss), net of tax 807 (3,486) (895)
Comprehensive income $ 16,783 $ 19,648 $ 17,546