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Consolidated Statements of Income and Comprehensive Income (Loss) (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Interest income        
Interest and fees on loans $ 8,900 $ 8,710 $ 26,120 $ 26,240
Interest on deposits with other banks 1 2 4 6
Interest and dividends on investments 3,968 3,943 12,108 10,923
Total interest income 12,869 12,655 38,232 37,169
Interest expense        
Interest on deposits 1,777 2,023 5,406 6,035
Interest on borrowed funds 1,088 1,127 3,276 3,355
Total interest expense 2,865 3,150 8,682 9,390
Net interest income 10,004 9,505 29,550 27,779
Provision for loan losses 350 800 850 3,500
Net interest income after provision for loan losses 9,654 8,705 28,700 24,279
Non-interest income        
Investment management and fiduciary income 517 470 1,619 1,438
Service charges on deposit accounts 598 676 1,899 2,099
Net securities gains 1,105 0 1,145 1,087
Mortgage origination and servicing income, net of amortization 256 348 610 1,735
Other operating income 1,180 1,127 3,173 3,129
Total non-interest income 3,656 2,621 8,446 9,488
Non-interest expense        
Salaries and employee benefits 4,048 3,613 11,268 10,607
Occupancy expense 517 488 1,688 1,557
Furniture and equipment expense 752 682 2,124 1,992
FDIC insurance premiums 245 280 764 864
Amortization of identified intangibles 82 82 245 245
Other operating expense 2,158 1,861 6,256 6,553
Total non-interest expense 7,802 7,006 22,345 21,818
Income before income taxes 5,508 4,320 14,801 11,949
Income tax expense 1,400 955 3,518 2,486
NET INCOME 4,108 3,365 11,283 9,463
Basic earnings per common share (usd per share) $ 0.39 $ 0.31 $ 1.06 $ 0.87
Diluted earnings per common share (usd per share) $ 0.38 $ 0.31 $ 1.05 $ 0.87
Other comprehensive income (loss), net of tax        
Net unrealized gain (loss) on securities available for sale (319) (779) 7,818 (12,152)
Net unrealized loss on securities transferred from available for sale to held to maturity, net of amortization (28) 0 (28) 0
Net unrecognized gain on postretirement benefits 0 0 0 8
Other comprehensive income (loss) (347) (779) 7,790 (12,144)
Comprehensive income (loss) $ 3,761 $ 2,586 $ 19,073 $ (2,681)