XML 16 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest income:        
Interest and fees on loans $ 31,250,000 $ 25,464,000 $ 58,131,000 $ 49,763,000
Interest and dividends on taxable investment securities 5,830,000 4,956,000 11,480,000 9,665,000
Interest on tax-exempt investment securities 635,000 762,000 1,278,000 1,556,000
Other interest income 54,000 26,000 106,000 41,000
Total interest income 37,769,000 31,208,000 70,995,000 61,025,000
Interest expense:        
Interest on deposits 3,101,000 1,729,000 5,314,000 3,216,000
Interest on short-term borrowings 1,175,000 233,000 2,143,000 484,000
Interest on long-term borrowings 685,000 1,156,000 1,371,000 2,290,000
Total interest expense 4,961,000 3,118,000 8,828,000 5,990,000
Net interest income 32,808,000 28,090,000 62,167,000 55,035,000
Provision for loan losses 1,188,000 947,000 3,171,000 1,571,000
Net interest income after provision for loan losses 31,620,000 27,143,000 58,996,000 53,464,000
Non-interest income:        
Insurance income 3,369,000 3,414,000 8,024,000 7,516,000
Trust and investment income 3,232,000 2,977,000 6,300,000 5,659,000
Electronic banking income 2,785,000 2,587,000 5,570,000 5,148,000
Deposit account service charges 2,388,000 2,294,000 4,508,000 4,723,000
Mortgage banking income 969,000 467,000 1,320,000 854,000
Bank owned life insurance income 497,000 496,000 965,000 989,000
Commercial loan swap fees 146,000 651,000 262,000 919,000
Net (loss) gain on asset disposals and other transactions (405,000) 109,000 (331,000) 106,000
Net (loss) gain on investment securities (147,000) 18,000 (146,000) 358,000
Other non-interest income (a) 421,000 704,000 1,752,000 1,116,000
Total non-interest income 13,255,000 13,717,000 28,224,000 27,388,000
Non-interest expense:        
Salaries and employee benefit costs 18,025,000 15,049,000 34,015,000 30,545,000
Professional fees 3,022,000 1,529,000 4,740,000 3,139,000
Net occupancy and equipment expense 2,803,000 2,648,000 5,669,000 5,361,000
Electronic banking expense 1,448,000 1,525,000 2,976,000 3,039,000
Data processing and software expense 1,359,000 1,096,000 2,681,000 2,238,000
Amortization of other intangible assets 861,000 871,000 1,615,000 1,734,000
Marketing expense 656,000 354,000 981,000 634,000
Franchise tax expense 614,000 584,000 1,258,000 1,167,000
FDIC insurance expense 416,000 457,000 782,000 890,000
Foreclosed real estate and other loan expenses 338,000 179,000 550,000 375,000
Communication expense 300,000 390,000 644,000 800,000
Other non-interest expense 6,129,000 1,998,000 8,281,000 4,089,000
Total non-interest expense 35,971,000 26,680,000 64,192,000 54,011,000
Income before income taxes 8,904,000 14,180,000 23,028,000 26,841,000
Income tax expense 1,012,000 4,414,000 3,395,000 8,266,000
Net income $ 7,892,000 $ 9,766,000 $ 19,633,000 $ 18,575,000
Earnings per common share - basic $ 0.41 $ 0.54 $ 1.05 $ 1.02
Earnings per common share - diluted $ 0.41 $ 0.53 $ 1.04 $ 1.02
Weighted-average number of common shares outstanding - basic 19,160,728 18,044,574 18,646,266 18,037,333
Weighted-average number of common shares outstanding - diluted 19,293,381 18,203,752 18,773,169 18,195,715
Cash dividends declared $ 5,466,000 $ 3,645,000 $ 10,237,000 $ 7,279,000
Cash dividends declared per common share $ 0.28 $ 0.2000 $ 0.54 $ 0.4
Unrealized Gain (Loss) on Marketable Securities, Cost Method Investments, and Other Investments $ 236,000   $ 224,000