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Consolidated Statements of Income
$ in Thousands
12 Months Ended
Dec. 31, 2017
USD ($)
$ / shares
Dec. 31, 2016
USD ($)
$ / shares
Dec. 31, 2015
USD ($)
$ / shares
INTEREST INCOME      
Interest and Fees on Loans $ 91,745 $ 86,202 $ 66,740
Interest on Federal Funds Sold and Other Short-term Investments 134 74 13
Interest and Dividends on Securities:      
Taxable 10,898 9,638 9,017
Non-taxable 8,253 7,451 5,850
TOTAL INTEREST INCOME 111,030 103,365 81,620
INTEREST EXPENSE      
Interest on Deposits 7,094 5,187 3,976
Interest on FHLB Advances and Other Borrowings 4,027 3,274 2,092
TOTAL INTEREST EXPENSE 11,121 8,461 6,068
NET INTEREST INCOME 99,909 94,904 75,552
Provision for Loan Losses 1,750 1,200 0
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 98,159 93,704 75,552
NON-INTEREST INCOME      
Trust and Investment Product Fees 5,272 4,644 3,957
Service Charges on Deposit Accounts 6,178 5,973 4,826
Insurance Revenues 7,979 7,741 7,489
Company Owned Life Insurance 1,341 987 846
Debit Interchange Fee Income 4,567 3,627 3,110
Other Operating Income 2,641 3,703 3,532
Net Gains on Sales of Loans 3,280 3,359 2,959
Net Gains on Securities 596 1,979 725
TOTAL NON-INTEREST INCOME 31,854 32,013 27,444
NON-INTEREST EXPENSE      
Salaries and Employee Benefits 46,642 43,961 35,042
Occupancy Expense 6,609 6,297 4,939
Furniture and Equipment Expense 2,621 2,261 1,873
FDIC Premiums 954 1,151 1,144
Data Processing Fees 4,276 5,686 3,541
Professional Fees 2,817 3,672 2,661
Advertising and Promotion 3,543 2,657 3,669
Intangible Amortization 942 1,062 790
Other Operating Expenses 9,399 9,840 7,667
TOTAL NON-INTEREST EXPENSE 77,803 76,587 61,326
Income before Income Taxes 52,210 49,130 41,670
Income Tax Expense 11,534 13,946 11,606
NET INCOME $ 40,676 $ 35,184 $ 30,064
Basic Earnings per Share (in USD per share) | $ / shares [1],[2] $ 1.77 $ 1.57 $ 1.51
Diluted Earnings per Share (in USD per share) | $ / shares [1],[2] 1.77 1.57 1.51
Dividends per Share (in usd per share) | $ / shares [1] $ 0.52 $ 0.48 $ 0.45
[1] Per share data has been adjusted to reflect a 3-for-2 stock split on April 21, 2017.
[2] Share and per share data has been adjusted to reflect a 3-for-2 stock split on April 21, 2017.