XML 19 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
INTEREST INCOME:      
Interest and fees on loans $ 35,285 $ 32,706 $ 27,325
Interest on investment securities:      
Taxable 4,197 3,757 3,369
Non-taxable 2,848 2,713 2,573
Other investments 329 301 230
TOTAL INTEREST INCOME 42,659 39,477 33,497
INTEREST EXPENSE:      
Interest on deposits 3,009 3,161 3,602
Interest on short-term borrowings 24 22 25
Interest on long-term debt 295 407 438
TOTAL INTEREST EXPENSE 3,328 3,590 4,065
NET INTEREST INCOME 39,331 35,887 29,432
PROVISION FOR LOAN LOSSES 1,366 930 588
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 37,965 34,957 28,844
NON-INTEREST INCOME:      
Trust income 3,262 2,903 2,518
Service charges and fees on deposit accounts 4,920 4,838 4,155
Net gain on sales of securities 495 149 1,060
Bank owned life insurance income 625 671 678
Gains from sales of mortgage loans 343 147 339
Other operating income 478 434 340
TOTAL NON-INTEREST INCOME 10,123 9,142 9,090
NON-INTEREST EXPENSE:      
Salaries and employee benefits 17,593 15,762 13,487
Equipment expenses 1,257 1,316 1,232
Occupancy expense, net 2,307 2,232 2,042
State franchise tax 1,001 955 846
Marketing 720 703 561
Amortization of intangibles 700 574 334
FDIC premiums 598 660 499
ATM expense 698 624 534
Computer maintenance and supplies 782 794 616
Telephone expense 707 690 566
Contracted services 842 880 568
Other real estate owned 489 285 (30)
Merger-related expenses 643 1,400 1,433
Other non-interest expense 4,055 3,969 3,524
TOTAL NON-INTEREST EXPENSE 32,392 30,844 26,212
INCOME BEFORE INCOME TAXES 15,696 13,255 11,722
PROVISION FOR INCOME TAXES 4,222 3,386 2,942
NET INCOME $ 11,474 $ 9,869 $ 8,780
Earnings per common share:      
Basic (in dollars per share) $ 1.18 $ 1.06 $ 1.12
Diluted (in dollars per share) $ 1.17 $ 1.05 $ 1.10
Weighted average shares outstanding:      
Basic (in shares) 9,704,965 9,297,019 7,852,514
Diluted (in shares) 9,811,476 9,406,346 7,982,997