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Consolidated Statements of Income (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:        
Loans $ 17,530 $ 17,428 $ 34,776 $ 35,091
Mortgage-backed securities 1,731 2,026 3,494 3,675
Investment securities and other 637 707 1,373 1,447
Total interest income 19,898 20,161 39,643 40,213
Interest expense:        
Deposits 986 1,175 2,082 2,501
Borrowed funds 753 1,442 1,337 2,979
Total interest expense 1,739 2,617 3,419 5,480
Net interest income 18,159 17,544 36,224 34,733
Provision for loan losses 275 800 805 1,900
Net interest income after provision for loan losses 17,884 16,744 35,419 32,833
Other income:        
Bankcard services revenue 897 921 1,689 1,731
Wealth management revenue 608 528 1,148 955
Fees and service charges 2,278 1,811 4,134 3,556
Loan servicing income 226 172 454 328
Net gain on sales of investment securities available-for-sale 348 42 348 42
Net gain on sales of loans available-for-sale 219 735 351 561
Net (loss) gain from other real estate operations (107) 74 (139) 77
Income from Bank Owned Life Insurance 377 332 715 647
Other 1 2 2 18
Total other income 4,847 4,617 8,702 7,915
Operating expenses:        
Compensation and employee benefits 8,131 7,039 15,816 13,617
Occupancy 1,364 1,376 2,828 2,739
Equipment 768 690 1,524 1,328
Marketing 610 447 1,142 697
Federal deposit insurance 538 536 1,083 1,060
Data processing 987 962 2,057 1,935
Check card processing 494 423 940 834
Professional fees 523 703 898 1,314
Other operating expense 1,432 1,424 2,679 2,630
Total operating expenses 14,847 13,600 28,967 26,154
Income before provision for income taxes 7,884 7,761 15,154 14,594
Provision for income taxes 2,767 2,774 5,330 5,170
Net income $ 5,117 $ 4,987 $ 9,824 $ 9,424
Basic earnings per share $ 0.31 $ 0.29 $ 0.58 $ 0.55
Diluted earnings per share $ 0.30 $ 0.29 $ 0.58 $ 0.55
Average basic shares outstanding 16,740 17,105 16,812 17,194
Average diluted shares outstanding 16,822 17,144 16,946 17,233