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Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Interest Income:        
Interest and fees on loans $ 15,986 $ 11,958 $ 43,431 $ 34,945
Interest and dividends on taxable investment securities 4,181 4,119 12,661 12,493
Interest on tax-exempt investment securities 470 410 1,332 1,183
Other interest income 5 22 (14) 65
Total interest income 20,642 16,509 57,410 48,686
Interest Expense:        
Interest on deposits 1,514 1,674 4,548 5,411
Interest on short-term borrowings 46 28 114 63
Interest on long-term borrowings 1,147 1,131 3,288 3,406
Total interest expense 2,707 2,833 7,950 8,880
Net interest income 17,935 13,676 49,460 39,806
(Recovery of) provision for loan losses (380) (919) 211 (3,446)
Net interest income after (recovery of) provision for loan losses 18,315 14,595 49,249 43,252
Other Income:        
Insurance income 3,169 3,261 10,728 9,359
Deposit account service charges 2,449 2,377 6,787 6,479
Trust and investment income 1,876 1,751 5,656 5,225
Electronic banking income 1,695 1,547 4,796 4,527
Mortgage banking income 334 360 872 1,443
Net gain (loss) on investment securities 124 (1) 160 443
Net loss on asset disposals and other transactions (109) (19) (285) (30)
Other non-interest income 338 290 1,036 841
Total other income 9,876 9,566 29,750 28,287
Other Expenses:        
Salaries and employee benefit costs 11,667 9,358 33,700 27,009
Net occupancy and equipment 2,267 1,637 5,822 5,121
Professional fees 1,451 1,188 3,625 3,084
Electronic banking expense 1,283 920 3,316 2,645
Marketing expense 668 547 1,540 1,559
Data processing and software 673 530 1,798 1,479
Franchise tax 388 412 1,215 1,238
Communication expense 421 342 1,170 1,006
FDIC insurance 331 224 878 754
Foreclosed real estate and other loan expenses 177 186 509 503
Amortization of other intangible assets 367 180 912 533
Other non-interest expense 2,514 1,739 6,542 4,939
Total other expenses 22,207 17,263 61,027 49,870
Income before income taxes 5,984 6,898 17,972 21,669
Income tax expense 1,755 4,381 5,482 9,209
Net income 4,229 2,517 12,490 12,460
Earnings per share - basic $ 0.33 $ 0.24 $ 1.09 $ 1.17
Earnings per share - diluted $ 0.33 $ 0.23 $ 1.08 $ 1.16
Weighted-average number of shares outstanding - basic 12,632,341 10,589,126 11,348,625 10,574,130
Weighted-average number of shares outstanding - diluted 12,765,880 10,692,555 11,464,020 10,664,999
Cash dividends declared $ 1,675 $ 1,513 $ 4,932 $ 4,320
Cash dividends declared per share $ 0.15 $ 0.14 $ 0.45 $ 0.40