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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest income        
Loans, including fees $ 27,553,000 $ 26,565,000 $ 81,219,000 $ 77,463,000
Securities, taxable 1,488,000 1,382,000 5,661,000 4,556,000
Securities, tax-exempt 545,000 512,000 1,622,000 1,572,000
Other interest-earning assets 120,000 42,000 240,000 161,000
Total interest income 29,706,000 28,501,000 88,742,000 83,752,000
Interest expense        
Deposits 1,924,000 1,969,000 5,608,000 5,642,000
Short-term borrowings 62,000 39,000 154,000 116,000
Federal Home Loan Bank advances 670,000 203,000 1,595,000 506,000
Subordinated debentures and other borrowings 600,000 665,000 1,952,000 1,973,000
Total interest expense 3,256,000 2,876,000 9,309,000 8,237,000
Net interest income 26,450,000 25,625,000 79,433,000 75,515,000
Provision for loan losses 600,000 (500,000) 2,300,000 (1,500,000)
Net interest income after provision for loan losses 25,850,000 26,125,000 77,133,000 77,015,000
Noninterest income        
Services charges on deposit and sweep accounts 1,140,000 862,000 3,178,000 2,444,000
Credit and debit card income 1,090,000 1,005,000 3,185,000 3,296,000
Mortgage banking activities 1,236,000 1,073,000 2,578,000 2,784,000
Earnings on bank owned life insurance 349,000 272,000 933,000 820,000
Gain on trust preferred securities repurchase 0 0 2,970,000 0
Other income 1,469,000 1,065,000 3,590,000 2,648,000
Total noninterest income 5,284,000 4,277,000 16,434,000 11,992,000
Noninterest expense        
Salaries and benefits 11,162,000 10,745,000 32,959,000 31,903,000
Occupancy 1,515,000 1,526,000 4,600,000 4,578,000
Furniture and equipment 531,000 569,000 1,579,000 1,788,000
Data processing costs 1,987,000 1,958,000 5,949,000 5,599,000
FDIC insurance costs 351,000 355,000 1,108,000 1,315,000
Other expense 4,117,000 4,540,000 12,530,000 14,101,000
Total noninterest expenses 19,663,000 19,693,000 58,725,000 59,284,000
Income before federal income tax expense 11,471,000 10,709,000 34,842,000 29,723,000
Federal income tax expense 3,626,000 3,373,000 11,014,000 9,183,000
Net income $ 7,845,000 $ 7,336,000 $ 23,828,000 $ 20,540,000
Basic earnings per share (in dollars per share) $ 0.48 $ 0.45 $ 1.46 $ 1.23
Diluted earnings per share (in dollars per share) 0.48 0.45 1.46 1.23
Cash dividends per common share (in dollars per share) $ 0.17 $ 0.15 $ 0.49 $ 0.43
Average basic shares outstanding (in shares) 16,282,804 16,425,933 16,271,848 16,708,444
Average diluted shares outstanding (in shares) 16,307,350 16,461,794 16,294,093 16,743,625