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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
INTEREST INCOME        
Interest and Fees on Loans $ 16,446 $ 13,194 $ 32,687 $ 26,033
Interest on Federal Funds Sold and Other Short-term Investments 66 27 131 36
Interest and Dividends on Securities:        
Taxable 3,586 2,462 6,430 4,927
Non-taxable 423 258 792 528
TOTAL INTEREST INCOME 20,521 15,941 40,040 31,524
INTEREST EXPENSE        
Interest on Deposits 3,248 2,686 6,641 5,298
Interest on FHLB Advances and Other Borrowings 1,009 1,340 2,028 2,662
TOTAL INTEREST EXPENSE 4,257 4,026 8,669 7,960
NET INTEREST INCOME 16,264 11,915 31,371 23,564
Provision for Loan Losses 1,300 1,000 2,600 2,500
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 14,964 10,915 28,771 21,064
NON-INTEREST INCOME        
Trust and Investment Product Fees 495 395 959 786
Service Charges on Deposit Accounts 1,074 1,075 2,015 2,021
Insurance Revenues 1,290 1,083 3,339 2,769
Company Owned Life Insurance 250 186 603 388
Interchange Fee Income 378 292 731 548
Other Operating Income 496 261 896 1,041
Net Gains on Sales of Loans 379 499 788 817
Net Gain on Securities     1,045  
TOTAL NON-INTEREST INCOME 4,362 3,791 10,376 8,370
NON-INTEREST EXPENSE        
Salaries and Employee Benefits 6,722 5,288 14,123 10,837
Occupancy Expense 1,024 835 2,074 1,722
Furniture and Equipment Expense 817 600 1,622 1,252
FDIC Premiums 382 336 896 688
Data Processing Fees 395 365 1,500 724
Professional Fees 499 524 1,104 1,045
Advertising and Promotion 314 273 617 542
Supplies 189 246 371 441
Intangible Amortization 498 247 1,015 465
Other Operating Expenses 1,431 1,188 2,819 2,452
TOTAL NON-INTEREST EXPENSE 12,271 9,902 26,141 20,168
Income before Income Taxes 7,055 4,804 13,006 9,266
Income Tax Expense 2,191 1,396 3,497 2,607
NET INCOME 4,864 3,408 9,509 6,659
COMPREHENSIVE INCOME $ 10,346 $ 5,331 $ 15,179 $ 9,481
Earnings Per Share and Diluted Earnings Per Share $ 0.39 $ 0.31 $ 0.76 $ 0.60
Dividends Per Share $ 0.14 $ 0.14 $ 0.28 $ 0.28