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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income        
Loans, including fees $ 30,746,000 $ 27,553,000 $ 86,406,000 $ 81,219,000
Securities, taxable 1,322,000 1,488,000 3,885,000 5,661,000
Securities, tax-exempt 584,000 545,000 1,709,000 1,622,000
Other interest-earning assets 382,000 120,000 641,000 240,000
Total interest income 33,034,000 29,706,000 92,641,000 88,742,000
Interest expense        
Deposits 2,652,000 1,924,000 6,543,000 5,608,000
Short-term borrowings 45,000 62,000 142,000 154,000
Federal Home Loan Bank advances 1,033,000 670,000 2,690,000 1,595,000
Subordinated debentures and other borrowings 660,000 600,000 1,920,000 1,952,000
Total interest expense 4,390,000 3,256,000 11,295,000 9,309,000
Net interest income 28,644,000 26,450,000 81,346,000 79,433,000
Provision for loan losses 1,000,000 600,000 2,350,000 2,300,000
Net interest income after provision for loan losses 27,644,000 25,850,000 78,996,000 77,133,000
Noninterest income        
Services charges on deposit and sweep accounts 1,076,000 1,140,000 3,148,000 3,178,000
Credit and debit card income 1,215,000 1,090,000 3,497,000 3,185,000
Mortgage banking income 1,326,000 1,236,000 3,233,000 2,578,000
Earnings on bank owned life insurance 328,000 349,000 2,394,000 933,000
Gain on trust preferred securities repurchase 0 0 0 2,970,000
Other income 660,000 1,469,000 2,226,000 3,590,000
Total noninterest income 4,605,000 5,284,000 14,498,000 16,434,000
Noninterest expense        
Salaries and benefits 11,636,000 11,162,000 33,796,000 32,959,000
Occupancy 1,598,000 1,515,000 4,707,000 4,600,000
Furniture and equipment depreciation, rent and maintenance 543,000 531,000 1,625,000 1,579,000
Data processing costs 2,071,000 1,987,000 6,155,000 5,949,000
FDIC insurance costs 250,000 351,000 708,000 1,108,000
Other expense 4,112,000 4,117,000 12,877,000 12,530,000
Total noninterest expenses 20,210,000 19,663,000 59,868,000 58,725,000
Income before federal income tax expense 12,039,000 11,471,000 33,626,000 34,842,000
Federal income tax expense 3,702,000 3,626,000 10,331,000 11,014,000
Net income $ 8,337,000 $ 7,845,000 $ 23,295,000 $ 23,828,000
Basic earnings per share (in dollars per share) $ 0.51 $ 0.48 $ 1.41 $ 1.46
Diluted earnings per share (in dollars per share) 0.51 0.48 1.41 1.46
Cash dividends per common share (in dollars per share) $ 0.19 $ 0.17 $ 0.55 $ 0.49
Average basic shares outstanding (in shares) 16,483,492 16,282,804 16,463,245 16,271,848
Average diluted shares outstanding (in shares) 16,494,540 16,307,350 16,474,534 16,294,093