XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income        
Interest and fees on loans (includes tax-exempt income of $608,000 YTD June 30, 2020 and $705,000 YTD June 30, 2019) $ 14,159 $ 14,900 $ 30,015 $ 29,457
Interest on deposits with other banks 5 29 79 97
Interest and dividends on investments (includes tax-exempt income of $3,733,000 YTD June 30, 2020 and $3,625,000 YTD June 30, 2019) 4,622 4,893 9,386 9,536
     Total interest income 18,786 19,822 39,480 39,090
Interest expense        
Interest on deposits 3,561 6,179 8,747 11,756
Interest on borrowed funds 734 693 1,324 1,485
     Total interest expense 4,295 6,872 10,071 13,241
Net interest income 14,491 12,950 29,409 25,849
Provision for loan losses 2,350 250 2,750 625
Net interest income after provision for loan losses 12,141 12,700 26,659 25,224
Non-interest income        
Net securities gains 427 0 1,179 0
Other operating income 1,576 1,777 3,070 3,291
     Total non-interest income 4,601 3,605 8,822 6,749
Non-interest expense        
Salaries and employee benefits 4,662 4,423 9,687 8,833
Occupancy expense 695 635 1,408 1,287
Furniture and equipment expense 1,138 1,025 2,254 2,000
FDIC insurance premiums 186 231 359 439
Amortization of identified intangibles 11 11 22 22
Other operating expense 2,225 2,405 6,230 4,547
     Total non-interest expense 8,917 8,730 19,960 17,128
Income before income taxes 7,825 7,575 15,521 14,845
Income tax expense 1,256 1,180 2,457 2,294
NET INCOME $ 6,569 $ 6,395 $ 13,064 $ 12,551
Basic earnings per common share (usd per share) $ 0.61 $ 0.59 $ 1.20 $ 1.16
Diluted earnings per common share (usd per share) $ 0.60 $ 0.59 $ 1.20 $ 1.15
Other comprehensive income (loss) net of tax        
Net unrealized gain (loss) on securities available for sale $ (790) $ 4,289 $ 3,443 $ 7,801
Net unrealized gain on securities transferred from available for sale to held to maturity, net of amortization 28 4 36 7
Net unrealized loss on cash flow hedging derivative instruments (1,414) (898) (6,284) (1,363)
Other comprehensive gain (loss) (2,176) 3,395 (2,805) 6,445
Comprehensive income 4,393 9,790 10,259 18,996
Investment management and fiduciary income        
Non-interest income        
Non-interest income 909 864 1,803 1,637
Service charges on deposit accounts        
Non-interest income        
Non-interest income 305 609 882 1,170
Mortgage origination and servicing income, net of amortization        
Non-interest income        
Non-interest income $ 1,384 $ 355 $ 1,888 $ 651