XML 14 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
Unaudited Condensed Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest Income        
Interest and fees on loans $ 12,106 $ 11,836 $ 23,828 $ 23,926
Interest on investment securities:        
Taxable 1,984 2,429 3,884 4,936
Nontaxable 579 606 1,170 1,236
Interest on deposits in other banks 128 93 270 188
Interest on federal funds sold, securities purchased under agreements to resell, and money market mutual funds 33 9 57 17
Total interest income 14,830 14,973 29,209 30,303
Interest Expense        
Interest on deposits 523 599 1,056 1,245
Interest on securities sold under agreements to repurchase 16 1,021 41 2,045
Interest on Federal Home Loan Bank advances 129 185 289 371
Interest on subordinated notes payable to unconsolidated trusts 213 170 411 357
Total interest expense 881 1,975 1,797 4,018
Net interest income 13,949 12,998 27,412 26,285
Provision for loan losses (499) (156) 81 (629)
Net interest income after provision for loan losses 14,448 13,154 27,331 26,914
Noninterest Income        
Service charges and fees on deposits 2,012 1,927 3,970 3,794
Allotment processing fees 651 820 1,366 1,694
Other service charges, commissions, and fees 1,328 1,432 2,700 2,714
Trust income 626 665 1,330 1,319
Investment securities (losses) gains, net (1) 131 (10) 214
Gains on sale of mortgage loans, net 189 222 343 422
Income from company-owned life insurance 221 231 456 556
Gain on debt extinguishment 0 4,050
Other 76 93 198 300
Total noninterest income 5,102 5,521 10,353 15,063
Noninterest Expense        
Salaries and employee benefits 7,646 7,655 15,263 15,634
Occupancy expenses, net 1,135 1,179 2,349 2,369
Equipment expenses 599 639 1,152 1,171
Data processing and communication expenses 1,093 1,212 2,386 2,326
Bank franchise tax 609 611 1,166 1,210
Deposit insurance expense 130 280 267 578
Other real estate expenses, net 326 373 400 1,012
Legal expenses 118 102 203 269
Other 1,690 1,833 3,689 3,722
Total noninterest expense 13,346 13,884 26,875 28,291
Income before income taxes 6,204 4,791 10,809 13,686
Income tax expense 1,722 1,235 2,998 3,950
Net income $ 4,482 $ 3,556 $ 7,811 $ 9,736
Per Common Share        
Net income – basic and diluted (in dollars per share) $ 0.60 $ 0.47 $ 1.04 $ 1.30
Cash dividends declared – common (in dollars per share) $ 0.10 $ 0.07 $ 0.20 $ 0.14
Weighted Average Common Shares Outstanding        
Basic and diluted (in shares) 7,512 7,502 7,511 7,501