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Consolidated Statements of Income and Comprehensive Income (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Interest income        
Interest and fees on loans $ 8,642 $ 8,738 $ 17,220 $ 17,530
Interest on deposits with other banks 1 2 3 4
Interest and dividends on investments 4,097 3,509 8,140 6,980
Total interest income 12,740 12,249 25,363 24,514
Interest expense        
Interest on deposits 1,804 2,025 3,629 4,012
Interest on borrowed funds 1,101 1,113 2,188 2,228
Total interest expense 2,905 3,138 5,817 6,240
Net interest income 9,835 9,111 19,546 18,274
Provision for loan losses 100 1,200 500 2,700
Net interest income after provision for loan losses 9,735 7,911 19,046 15,574
Non-interest income        
Investment management and fiduciary income 585 519 1,102 968
Service charges on deposit accounts 682 775 1,301 1,423
Net securities gains 4 788 40 1,087
Mortgage origination and servicing income, net of amortization 160 491 354 1,387
Other operating income 1,027 1,006 1,993 2,002
Total non-interest income 2,458 3,579 4,790 6,867
Non-interest expense        
Salaries and employee benefits 3,523 3,520 7,220 6,994
Occupancy expense 559 522 1,171 1,069
Furniture and equipment expense 675 688 1,372 1,310
FDIC insurance premiums 254 294 519 584
Amortization of identified intangibles 81 81 163 163
Other operating expense 2,199 2,318 4,098 4,692
Total non-interest expense 7,291 7,423 14,543 14,812
Income before income taxes 4,902 4,067 9,293 7,629
Income tax expense 1,155 825 2,118 1,531
NET INCOME 3,747 3,242 7,175 6,098
Basic earnings per common share (usd per share) $ 0.35 $ 0.29 $ 0.67 $ 0.56
Diluted earnings per common share (usd per share) $ 0.35 $ 0.29 $ 0.67 $ 0.56
Other comprehensive income (loss), net of tax        
Net unrealized gain (loss) on securities available for sale 3,313 (8,907) 8,137 (11,373)
Net unrecognized gain on postretirement benefits 0 4 0 8
Other comprehensive income (loss) 3,313 (8,903) 8,137 (11,365)
Comprehensive income (loss) $ 7,060 $ (5,661) $ 15,312 $ (5,267)