XML 15 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest income        
Interest and fees on loans (includes year-to-date tax-exempt income of $487,000 in 2016 and $434,000 in September 30, 2015) $ 10,021 $ 9,235 $ 29,759 $ 27,247
Interest on deposits with other banks 9 3 17 16
Interest and dividends on investments (includes year-to-date tax-exempt income of $3,761,000 in 2016 and $3,891,000 in 2015) 3,253 3,595 10,383 10,509
Total interest income 13,283 12,833 40,159 37,772
Interest expense        
Interest on deposits 1,538 1,236 4,382 3,995
Interest on borrowed funds 1,216 1,086 3,568 3,486
Total interest expense 2,754 2,322 7,950 7,481
Net interest income 10,529 10,511 32,209 30,291
Provision for loan losses 375 200 1,125 1,100
Net interest income after provision for loan losses 10,154 10,311 31,084 29,191
Non-interest income        
Investment management and fiduciary income 591 548 1,805 1,706
Service charges on deposit accounts 528 564 1,711 1,801
Net securities gains 137 1 668 1,396
Mortgage origination and servicing income, net of amortization 896 388 1,534 1,093
Other operating income 1,317 1,474 3,721 3,471
Total non-interest income 3,469 2,975 9,439 9,467
Non-interest expense        
Salaries and employee benefits 3,931 3,784 11,136 10,944
Occupancy expense 589 556 1,735 1,772
Furniture and equipment expense 819 772 2,416 2,324
FDIC insurance premiums 210 221 631 667
Amortization of identified intangibles 10 11 32 47
Other operating expense 1,846 2,363 5,900 6,198
Total non-interest expense 7,405 7,707 21,850 21,952
Income before income taxes 6,218 5,579 18,673 16,706
Income tax expense 1,656 1,391 4,984 4,269
NET INCOME $ 4,562 $ 4,188 $ 13,689 $ 12,437
Basic earnings per common share (usd per share) $ 0.43 $ 0.39 $ 1.28 $ 1.17
Diluted earnings per common share (usd per share) $ 0.42 $ 0.39 $ 1.27 $ 1.16
Other comprehensive income (loss) net of tax        
Net unrealized gain (loss) on securities available for sale $ (1,292) $ 1,330 $ 1,585 $ (204)
Net unrealized gain (loss) on securities transferred from available for sale to held to maturity, net of amortization 9 (15) (12) (51)
Net unrealized gain on cash flow hedging derivative instruments 193 0 58 0
Other comprehensive income (loss) (1,090) 1,315 1,631 (255)
Comprehensive income $ 3,472 $ 5,503 $ 15,320 $ 12,182