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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income        
Interest and fees on loans (includes tax-exempt income of $1,001,000 as of September 30, 2019 and $822,000 as of September 30, 2018) $ 14,993 $ 13,735 $ 44,450 $ 39,164
Interest on deposits with other banks 48 115 145 132
Interest and dividends on investments (includes tax-exempt income of $5,480,000 as of September 30, 2019 and $5,208,000 as of September 30, 2018) 4,863 4,236 14,399 12,446
Total interest income 19,904 18,086 58,994 51,742
Interest expense        
Interest on deposits 5,983 4,274 17,739 11,131
Interest on borrowed funds 695 1,276 2,180 3,397
Total interest expense 6,678 5,550 19,919 14,528
Net interest income 13,226 12,536 39,075 37,214
Provision for loan losses 250 333 875 1,333
Net interest income after provision for loan losses 12,976 12,203 38,200 35,881
Non-interest income        
Net securities gains 15 1 15 137
Other operating income 1,542 1,413 4,833 4,259
Total non-interest income 3,532 3,034 10,281 9,347
Non-interest expense        
Salaries and employee benefits 4,865 4,460 13,698 13,230
Occupancy expense 644 574 1,931 1,871
Furniture and equipment expense 969 972 2,969 2,816
FDIC insurance premiums 0 337 439 950
Amortization of identified intangibles 10 10 32 32
Other operating expense 2,552 1,863 7,099 6,072
Total non-interest expense 9,040 8,216 26,168 24,971
Income before income taxes 7,468 7,021 22,313 20,257
Income tax expense 1,180 1,088 3,474 3,084
NET INCOME $ 6,288 $ 5,933 $ 18,839 $ 17,173
Basic earnings per common share (usd per share) $ 0.58 $ 0.55 $ 1.74 $ 1.59
Diluted earnings per common share (usd per share) $ 0.58 $ 0.55 $ 1.73 $ 1.58
Other comprehensive income (loss) net of tax        
Net unrealized gain (loss) on securities available for sale $ 936 $ (1,888) $ 8,737 $ (6,232)
Net unrealized gain (loss) on securities transferred from available for sale to held to maturity, net of amortization 1 (5) 8 (20)
Net unrealized gain (loss) on cash flow hedging derivative instruments (340)   (1,703)  
Net unrealized gain (loss) on cash flow hedging derivative instruments   216   738
Other comprehensive income (loss) 597 (1,677) 7,042 (5,514)
Comprehensive income 6,885 4,256 25,881 11,659
Investment management and fiduciary income        
Non-interest income        
Non-interest income 822 743 2,459 2,285
Service charges on deposit accounts        
Non-interest income        
Non-interest income 577 527 1,747 1,624
Mortgage origination and servicing income, net of amortization        
Non-interest income        
Non-interest income $ 576 $ 350 $ 1,227 $ 1,042