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Consolidated Statements of Income and Comprehensive Income (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Interest and dividend income        
Interest and fees on loans $ 8,710,000 $ 9,247,000 $ 26,240,000 $ 28,006,000
Interest on deposits with other banks 2,000 2,000 6,000 3,000
Interest and dividends on investments 3,943,000 3,643,000 10,923,000 11,122,000
Total interest income 12,655,000 12,892,000 37,169,000 39,131,000
Interest expense        
Interest on deposits 2,023,000 2,073,000 6,035,000 6,370,000
Interest on borrowed funds 1,127,000 1,149,000 3,355,000 3,367,000
Total interest expense 3,150,000 3,222,000 9,390,000 9,737,000
Net interest income 9,505,000 9,670,000 27,779,000 29,394,000
Provision for loan losses 800,000 1,400,000 3,500,000 6,300,000
Net interest income after provision for loan losses 8,705,000 8,270,000 24,279,000 23,094,000
Non-interest income        
Investment management and fiduciary income 470,000 386,000 1,438,000 1,230,000
Service charges on deposit accounts 676,000 644,000 2,099,000 1,995,000
Net securities gains 0 0 1,087,000 1,967,000
Mortgage origination and servicing income 348,000 550,000 1,735,000 854,000
Other operating income 1,127,000 912,000 3,129,000 2,510,000
Total non-interest income 2,621,000 2,492,000 9,488,000 8,556,000
Non-interest expense        
Salaries and employee benefits 3,613,000 3,283,000 10,607,000 9,485,000
Occupancy expense 488,000 428,000 1,557,000 1,247,000
Furniture and equipment expense 682,000 527,000 1,992,000 1,650,000
FDIC insurance premiums 280,000 303,000 864,000 909,000
Amortization of identified intangibles 82,000 71,000 245,000 212,000
Other operating expense 1,861,000 1,983,000 6,553,000 6,000,000
Total non-interest expense 7,006,000 6,595,000 21,818,000 19,503,000
Income before income taxes 4,320,000 4,167,000 11,949,000 12,147,000
Income tax expense 955,000 944,000 2,486,000 2,688,000
NET INCOME 3,365,000 3,223,000 9,463,000 9,459,000
Basic earnings per common share (usd per share) $ 0.31 $ 0.31 $ 0.87 $ 0.91
Diluted earnings per common share (usd per share) $ 0.31 $ 0.31 $ 0.87 $ 0.91
Other comprehensive income (loss), net of tax        
Net unrealized (gain) loss on securities available for sale (779,000) 1,962,000 (12,152,000) 2,087,000
Amortization of unrecognized postretirement benefits 0 5,000 8,000 15,000
Other comprehensive income (loss) (779,000) 1,967,000 (12,144,000) 2,102,000
Comprehensive income (loss) $ 2,586,000 $ 5,190,000 $ (2,681,000) $ 11,561,000