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CONSOLIDATED STATEMENTS OF INCOME
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
USD ($)
$ / shares
Jun. 30, 2016
USD ($)
$ / shares
Jun. 30, 2017
USD ($)
$ / shares
Jun. 30, 2016
USD ($)
$ / shares
INTEREST INCOME        
Interest and Fees on Loans $ 22,602 $ 22,670 $ 44,864 $ 41,334
Interest on Federal Funds Sold and Other Short-term Investments 27 20 54 37
Interest and Dividends on Securities:        
Taxable 2,702 2,287 5,421 4,564
Non-taxable 2,070 1,873 4,095 3,595
TOTAL INTEREST INCOME 27,401 26,850 54,434 49,530
INTEREST EXPENSE        
Interest on Deposits 1,626 1,326 3,069 2,481
Interest on FHLB Advances and Other Borrowings 962 853 1,827 1,594
TOTAL INTEREST EXPENSE 2,588 2,179 4,896 4,075
NET INTEREST INCOME 24,813 24,671 49,538 45,455
Provision for Loan Losses 350 350 850 1,200
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 24,463 24,321 48,688 44,255
NON-INTEREST INCOME        
Trust and Investment Product Fees 1,350 1,223 2,593 2,244
Service Charges on Deposit Accounts 1,478 1,534 2,962 2,767
Insurance Revenues 1,744 1,605 4,384 4,332
Company Owned Life Insurance 480 247 734 462
Interchange Fee Income 1,156 873 2,179 1,661
Other Operating Income 630 722 1,487 1,235
Net Gains on Sales of Loans 959 883 1,646 1,603
Net Gains on Securities 0 968 0 968
TOTAL NON-INTEREST INCOME 7,797 8,055 15,985 15,272
NON-INTEREST EXPENSE        
Salaries and Employee Benefits 11,460 10,184 22,904 21,785
Occupancy Expense 1,570 1,614 3,119 2,993
Furniture and Equipment Expense 654 604 1,287 1,112
FDIC Premiums 232 339 471 667
Data Processing Fees 1,044 1,181 2,055 3,346
Professional Fees 913 780 1,716 2,098
Advertising and Promotion 630 629 1,408 1,173
Intangible Amortization 242 312 495 520
Other Operating Expenses 2,251 2,696 4,577 4,885
TOTAL NON-INTEREST EXPENSE 18,996 18,339 38,032 38,579
Income before Income Taxes 13,264 14,037 26,641 20,948
Income Tax Expense 3,425 4,249 7,246 6,014
NET INCOME $ 9,839 $ 9,788 $ 19,395 $ 14,934
Basic Earnings Per Share (USD per share) | $ / shares [1] $ 0.43 $ 0.43 $ 0.85 $ 0.68
Diluted Earnings Per Share (USD per share) | $ / shares [1] 0.43 0.43 0.85 0.68
Dividends Per Share (USD per share) | $ / shares [1] $ 0.13 $ 0.12 $ 0.26 $ 0.24
[1] Per share data has been adjusted to reflect a 3-for-2 stock split on April 21, 2017.