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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 Income:        
Interest and fees on loans $ 11,533 $ 12,043 $ 22,987 $ 23,803
Interest and dividends on taxable investment securities 4,159 4,939 8,374 10,446
Interest on tax-exempt investment securities 394 355 773 696
Other interest income 25 4 43 8
Total interest income 16,111 17,341 32,177 34,953
Interest Expense:        
Interest on deposits 1,798 2,289 3,737 4,836
Interest on short-term borrowings 22 19 35 38
Interest on long-term borrowings 1,136 929 2,275 2,048
Interest on junior subordinated notes held by subsidiary trust 0 492 0 987
Total interest expense 2,956 3,729 6,047 7,909
Net interest income 13,155 13,612 26,130 27,044
(Recovery of) provision for loan losses (1,462) (1,120) (2,527) (3,257)
Net interest income after (recovery of) provision for loan losses 14,617 14,732 28,657 30,301
Other Income:        
Insurance income 3,220 2,438 6,098 5,389
Deposit account service charges 2,045 2,230 4,102 4,467
Trust and investment income 1,772 1,449 3,474 2,945
Electronic banking income 1,561 1,464 2,980 2,952
Mortgage banking income 365 682 1,083 1,231
Net gain on investment securities 26 0 444 3,163
Net loss on assets (6) (43) (11) (3,105)
Other non-interest income 253 235 551 596
Total other income 9,236 8,455 18,721 17,638
Other Expenses:        
Salaries and employee benefit costs 8,934 8,415 17,651 16,660
Net occupancy and equipment 1,626 1,503 3,484 2,935
Professional fees 1,002 1,204 1,896 2,017
Electronic banking expense 885 870 1,725 1,564
Marketing expense 562 481 1,012 956
Data processing and software 488 485 949 972
Franchise tax 413 414 826 826
Communication expense 361 288 664 636
FDIC insurance 250 223 530 532
Foreclosed real estate and other loan expenses 223 255 440 476
Amortization of other intangible assets 164 109 353 216
Other non-interest expense 1,514 1,439 3,077 2,912
Total other expenses 16,422 15,686 32,607 30,702
Income before income taxes 7,431 7,501 14,771 17,237
Income tax expense 2,510 2,471 4,828 5,550
Net income 4,921 5,030 9,943 11,687
Earnings per common share - basic $ 0.46 $ 0.47 $ 0.93 $ 1.10
Earnings per common share - diluted $ 0.46 $ 0.47 $ 0.93 $ 1.10
Weighted-average number of common shares outstanding - basic 10,576,643 10,524,429 10,566,508 10,518,909
Weighted-average number of common shares outstanding - diluted 10,597,033 10,524,429 10,584,383 10,518,929
Cash dividends declared $ 1,512 $ 1,175 $ 2,807 $ 2,347
Cash dividends declared per share $ 0.14 $ 0.11 $ 0.26 $ 0.22