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CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
INTEREST INCOME        
Interest and Fees on Loans $ 16,680 $ 15,307 $ 48,766 $ 45,227
Interest on Federal Funds Sold and Other Short-term Investments 2 2 8 25
Interest and Dividends on Securities:        
Taxable 2,531 2,768 7,944 8,380
Non-taxable 1,135 735 3,136 2,008
TOTAL INTEREST INCOME 20,348 18,812 59,854 55,640
INTEREST EXPENSE        
Interest on Deposits 1,025 1,145 3,098 3,533
Interest on FHLB Advances and Other Borrowings 532 475 1,448 1,978
TOTAL INTEREST EXPENSE 1,557 1,620 4,546 5,511
NET INTEREST INCOME 18,791 17,192 55,308 50,129
Provision for Loan Losses 0 (400) 550 (250)
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 18,791 17,592 54,758 50,379
NON-INTEREST INCOME        
Trust and Investment Product Fees 901 802 2,728 2,433
Service Charges on Deposit Accounts 1,300 1,029 3,552 3,034
Insurance Revenues 1,739 1,495 5,777 4,658
Company Owned Life Insurance 210 233 603 716
Interchange Fee Income 508 449 1,467 1,392
Other Operating Income 599 395 1,579 1,547
Net Gains on Sales of Loans 613 613 1,475 2,176
Net Gains on Securities 567 428 1,039 1,508
TOTAL NON-INTEREST INCOME 6,437 5,444 18,220 17,464
NON-INTEREST EXPENSE        
Salaries and Employee Benefits 7,975 7,515 24,285 22,926
Occupancy Expense 1,262 1,155 3,776 3,359
Furniture and Equipment Expense 463 438 1,472 1,379
FDIC Premiums 277 261 828 776
Data Processing Fees 935 717 2,892 2,054
Professional Fees 516 970 1,761 2,156
Advertising and Promotion 613 447 1,635 1,453
Intangible Amortization 302 329 975 1,044
Other Operating Expenses 1,739 1,752 5,687 5,160
TOTAL NON-INTEREST EXPENSE 14,082 13,584 43,311 40,307
Income before Income Taxes 11,146 9,452 29,667 27,536
Income Tax Expense 3,438 2,969 8,967 8,712
NET INCOME $ 7,708 $ 6,483 $ 20,700 $ 18,824
Basic Earnings Per Share (USD per share) $ 0.58 $ 0.51 $ 1.57 $ 1.49
Diluted Earnings Per Share (USD per share) $ 0.58 $ 0.51 $ 1.57 $ 1.48
Dividends Per Share (USD per share) $ 0.16 $ 0.15 $ 0.48 $ 0.45