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Unaudited Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Interest Income    
Interest and fees on loans $ 12,090 $ 11,716
Interest on investment securities:    
Taxable 2,509 2,795
Nontaxable 630 656
Interest on deposits in other banks 95 50
Interest on federal funds sold and securities purchased under agreements to resell 6 3
Total interest income 15,330 15,220
Interest Expense    
Interest on deposits 646 821
Interest on federal funds purchased and other short-term borrowings 24 10
Interest on securities sold under agreements to repurchase and other long-term borrowings 1,186 1,176
Interest on subordinated notes payable to unconsolidated trusts 187 210
Total interest expense 2,043 2,217
Net interest income 13,287 13,003
Provision for loan losses (473) (1,545)
Net interest income after provision for loan losses 13,760 14,548
Noninterest Income    
Service charges and fees on deposits 1,867 1,772
Allotment processing fees 874 1,190
Other service charges, commissions, and fees 1,282 1,267
Trust income 654 571
Investment securities gains, net 83 120
Gains on sale of mortgage loans, net 200 165
Income from company-owned life insurance 325 241
Gain on debt extinguishment 4,050 0
Other 207 115
Total noninterest income 9,542 5,441
Noninterest Expense    
Salaries and employee benefits 7,979 8,320
Occupancy expenses, net 1,190 1,227
Equipment expenses 629 618
Data processing and communication expenses 1,120 1,055
Bank franchise tax 599 605
Amortization of intangibles 0 112
Deposit insurance expense 298 400
Other real estate expenses, net 639 45
Legal expenses 167 212
Other 1,786 1,916
Total noninterest expense 14,407 14,510
Income before income taxes 8,895 5,479
Income tax expense 2,715 1,405
Net income 6,180 4,074
Less preferred stock dividends 0 225
Net income available to common shareholders $ 6,180 $ 3,849
Per Common Share    
Net income – basic and diluted (in Dollars per share) $ 0.82 $ 0.51
Cash dividends declared (in Dollars per share) $ 0.07 $ 0
Weighted Average Common Shares Outstanding    
Basic and diluted (in Shares) 7,500 7,490