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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income:        
Interest and fees on loans $ 26,370 $ 23,493 $ 76,133 $ 69,850
Interest and dividends on taxable investment securities 5,615 4,456 15,280 13,875
Interest on tax-exempt investment securities 701 771 2,257 2,332
Other interest income 42 10 83 37
Total interest income 32,728 28,730 93,753 86,094
Interest expense:        
Interest on deposits 1,865 1,427 5,081 4,531
Interest on short-term borrowings 369 109 853 301
Interest on long-term borrowings 1,274 1,071 3,564 3,064
Total interest expense 3,508 2,607 9,498 7,896
Net interest income 29,220 26,123 84,255 78,198
Provision for loan losses 1,086 1,146 2,657 2,828
Net interest income after provision for loan losses 28,134 24,977 81,598 75,370
Non-interest income:        
Insurance income 3,345 3,137 10,861 10,934
Trust and investment income 2,838 2,692 8,497 7,850
Electronic banking income 2,544 2,765 7,692 7,867
Deposit account service charges 2,407 2,833 7,130 7,999
Net gain (loss) on investment securities 1,861 (1) 2,219 862
Mortgage banking income 535 427 1,389 852
Bank owned life insurance income 482 491 1,471 911
Mortgage banking income 76 569 995 997
Net (loss) gain on asset disposals and other transactions (25) (224) 81 (1,024)
Other non-interest income 383 624 1,499 1,549
Total non-interest income 14,446 13,313 41,834 38,797
Non-interest expense:        
Salaries and employee benefit costs 15,141 14,584 45,686 42,881
Net occupancy and equipment expense 2,619 2,768 7,980 8,155
Electronic banking expense 1,448 1,650 4,487 4,568
Professional fees 1,393 1,661 4,532 5,243
Data processing and software expense 1,092 741 3,330 2,503
Amortization of other intangible assets 869 1,008 2,603 3,023
Franchise tax expense 583 529 1,750 1,550
Marketing expense 488 380 1,122 1,192
FDIC insurance expense 449 549 1,339 1,706
Communication expense 334 518 1,134 1,730
Foreclosed real estate and other loan expenses 214 189 589 540
Other non-interest expense 1,928 2,265 6,017 6,538
Total non-interest expense 26,558 26,842 80,569 79,629
Income before income taxes 16,022 11,448 42,863 34,538
Income tax expense 5,127 3,656 13,393 10,789
Net income $ 10,895 $ 7,792 $ 29,470 $ 23,749
Earnings per common share - basic $ 0.60 $ 0.43 $ 1.62 $ 1.31
Earnings per common share - diluted $ 0.60 $ 0.43 $ 1.61 $ 1.31
Weighted-average number of common shares outstanding - basic 18,056,202 17,993,443 18,043,692 18,015,249
Weighted-average number of common shares outstanding - diluted 18,213,533 18,110,710 18,199,959 18,123,660
Cash dividends declared $ 4,020 $ 2,912 $ 11,299 $ 8,564
Cash dividends declared per common share $ 0.22 $ 0.16000 $ 0.62 $ 0.47000