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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Interest Income      
Loans receivable $ 62,229 $ 59,727 $ 50,340
Investment securities      
Taxable 8,441 8,833 10,201
Tax exempt 4,216 3,968 4,073
Total interest income 74,886 72,528 64,614
Interest Expense      
Deposits 5,672 6,206 8,346
Borrowed funds 5,821 6,166 6,334
Subordinated debentures 2,010 1,950 1,821
Total interest expense 13,503 14,322 16,501
Net Interest Income 61,383 58,206 48,113
Provision for loan losses 1,920 3,524 5,282
Net Interest Income after Provision for Loan Losses 59,463 54,682 42,831
Non-interest Income      
Service charges on deposit accounts 3,989 3,470 3,164
Wire transfer fees 697 892 619
Interchange fees 4,056 3,122 2,594
Fiduciary activities 4,337 3,997 3,983
Gain on sale of investment securities (includes $374, $2 and $1,777 for the years ended 2013, 2012 and 2011 related to accumulated other comprehensive earnings reclassifications) 374 2 1,777
Gain on sale of mortgage loans 8,794 14,123 6,449
Mortgage servicing income net of impairment 1,521 234 267
Increase in cash value of bank owned life insurance 1,035 1,025 891
Other income 1,103 466 102
Total non-interest income 25,906 27,331 20,299
Non-interest Expense      
Salaries and employee benefits 31,032 28,383 22,875
Net occupancy expenses 4,984 4,529 4,267
Data processing 3,045 2,717 2,006
Professional fees 1,668 1,990 1,497
Outside services and consultants 2,412 2,313 1,741
Loan expense 4,668 4,276 3,586
FDIC insurance expense 1,089 1,108 1,220
Other losses 807 619 2,383
Other expense 8,740 8,089 6,572
Total non-interest expense 58,445 54,024 46,147
Income Before Income Tax 26,924 27,989 16,983
Income tax expense (includes $131, $0 and $622 for the years ended 2013, 2012 and 2011 related to income tax expense from reclassification items) 7,048 8,446 4,186
Net Income 19,876 19,543 12,797
Preferred stock dividend and discount accretion (370) (481) (1,325)
Net Income Available to Common Shareholders $ 19,506 $ 19,062 $ 11,472
Basic Earnings Per Share $ 2.26 $ 2.39 $ 1.55
Diluted Earnings Per Share $ 2.17 $ 2.30 $ 1.51