XML 28 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Interest Income      
Loans receivable $ 75,373 $ 62,435 $ 62,229
Investment securities      
Taxable 8,721 9,344 8,441
Tax exempt 4,494 4,426 4,216
Total interest income 88,588 76,205 74,886
Interest Expense      
Deposits 5,559 5,257 5,672
Borrowed funds 6,286 5,956 5,821
Subordinated debentures 2,009 2,009 2,010
Total interest expense 13,854 13,222 13,503
Net Interest Income 74,734 62,983 61,383
Provision for loan losses 3,162 3,058 1,920
Net Interest Income after Provision for Loan Losses 71,572 59,925 59,463
Non-interest Income      
Service charges on deposit accounts 4,807 4,085 3,989
Wire transfer fees 633 557 697
Interchange fees 5,591 4,649 4,056
Fiduciary activities 5,637 4,738 4,337
Gain on sale of investment securities (includes $189, $988 and $374 for the years ended December 31, 2015, 2014 and 2013 related to accumulated other comprehensive earnings reclassifications) 189 988 374
Gain on sale of mortgage loans 10,055 8,395 8,794
Mortgage servicing income net of impairment 993 805 1,521
Increase in cash value of bank owned life insurance 1,249 1,047 1,035
Death benefit on bank owned life insurance 145    
Other income 1,103 1,013 1,103
Total non-interest income 30,402 26,277 25,906
Non-interest Expense      
Salaries and employee benefits 37,712 32,682 31,032
Net occupancy expenses 6,400 5,607 4,984
Data processing 4,251 3,663 3,045
Professional fees 2,070 1,731 1,668
Outside services and consultants 5,735 3,250 2,412
Loan expense 5,379 4,770 4,668
FDIC insurance expense 1,499 1,175 1,089
Other losses 432 (70) 807
Other expense 10,715 9,138 8,740
Total non-interest expense 74,193 61,946 58,445
Income Before Income Tax 27,781 24,256 26,924
Income tax expense (includes $66, $346 and $131 for the years ended December 31, 2015, 2014 and 2013 related to income tax expense from reclassification items) 7,232 6,155 7,048
Net Income 20,549 18,101 19,876
Preferred stock dividend (125) (133) (370)
Net Income Available to Common Shareholders $ 20,424 $ 17,968 $ 19,506
Basic Earnings Per Share $ 1.94 $ 1.98 $ 2.26
Diluted Earnings Per Share $ 1.89 $ 1.90 $ 2.17