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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest income:        
Loans $ 18,548 $ 17,530 $ 36,577 $ 34,776
Mortgage-backed securities 1,519 1,731 3,142 3,494
Investment securities and other 509 637 1,026 1,373
Total interest income 20,576 19,898 40,745 39,643
Interest expense:        
Deposits 967 986 1,922 2,082
Borrowed funds 1,176 753 2,257 1,337
Total interest expense 2,143 1,739 4,179 3,419
Net interest income 18,433 18,159 36,566 36,224
Provision for loan losses 300 275 675 805
Net interest income after provision for loan losses 18,133 17,884 35,891 35,419
Other income:        
Bankcard services revenue 899 897 1,682 1,689
Wealth management revenue 629 608 1,157 1,148
Fees and service charges 2,059 2,261 3,949 4,104
Loan servicing income 59 226 111 454
Net gain on sale of loan servicing 30   111  
Net gain on sales of loans available-for-sale 185 219 377 351
Net gain on sale of investment securities available-for-sale 0 348 0 348
Net loss from other real estate operations (72) (107) (51) (139)
Income from Bank Owned Life Insurance 364 377 810 715
Other 18 1 11 2
Total other income 4,171 4,830 8,157 8,672
Operating expenses:        
Compensation and employee benefits 7,700 8,131 15,239 15,816
Occupancy 1,242 1,364 2,696 2,828
Equipment 813 768 1,611 1,524
Marketing 415 610 689 1,142
Federal deposit insurance 506 538 1,004 1,083
Data processing 1,101 987 2,189 2,057
Check card processing 423 494 898 940
Professional fees 539 523 934 898
Other operating expense 1,469 1,415 2,636 2,649
Merger related expenses 184   234  
Total operating expenses 14,392 14,830 28,130 28,937
Income before provision for income taxes 7,912 7,884 15,918 15,154
Provision for income taxes 2,779 2,767 5,523 5,330
Net income $ 5,133 $ 5,117 $ 10,395 $ 9,824
Basic earnings per share $ 0.31 $ 0.31 $ 0.63 $ 0.58
Diluted earnings per share $ 0.31 $ 0.30 $ 0.63 $ 0.58
Average basic shares outstanding 16,401 16,740 16,433 16,812
Average diluted shares outstanding 16,593 16,822 16,613 16,946