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Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Interest and dividend income:        
Loans and loans held for sale $ 16,653 $ 16,228 $ 33,026 $ 32,186
Investment securities 794 835 1,604 1,634
Other interest-earning assets 11 24 21 43
Total interest and dividend income 17,458 17,087 34,651 33,863
Interest expense:        
Deposits 996 1,368 2,030 2,905
Borrowed funds 40 13 86 29
Junior subordinated debentures 295 295 589 589
Total interest expense 1,331 1,676 2,705 3,523
Net interest income 16,127 15,411 31,946 30,340
Provision for loan losses 534 1,050 1,317 1,350
Net interest income after provision for loan losses 15,593 14,361 30,629 28,990
Non-interest income:        
Investment advisory fees 1,045 934 2,061 1,955
Deposit and interchange fees 1,181 1,107 2,289 2,128
Income on bank-owned life insurance,net 119 128 235 262
Net gains on sales of investment securities 468 112 948 159
Gains on sales of loans 222 218 557 458
Other income 518 453 1,102 964
Total non-interest income 3,553 2,952 7,192 5,926
Non-interest expense:        
Salaries and employee benefits 8,651 7,841 16,699 15,344
Occupancy and equipment expenses 1,488 1,430 3,059 2,844
Technology and telecommunications expenses 1,203 1,077 2,356 2,076
Advertising and public relations expenses 946 497 1,566 1,286
Audit, legal and other professional fees 411 487 825 970
Deposit insurance premiums 284 283 533 560
Supplies and postage expenses 250 196 487 427
Investment advisory and custodial expenses 134 112 260 209
Other operating expenses 1,094 1,049 2,130 2,074
Total non-interest expense 14,461 12,972 27,915 25,790
Income before income taxes 4,685 4,341 9,906 9,126
Provision for income taxes 1,606 1,436 3,394 3,048
Net income $ 3,079 $ 2,905 $ 6,512 $ 6,078
Basic earnings per share $ 0.31 $ 0.30 $ 0.67 $ 0.64
Diluted earnings per share $ 0.31 $ 0.30 $ 0.66 $ 0.63
Basic weighted average common shares outstanding 9,825,335 9,588,420 9,770,559 9,543,994
Diluted weighted average common shares outstanding 9,889,639 9,655,728 9,840,016 9,612,187