XML 21 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Interest and fees on loans    
Taxable $ 26,191 $ 25,865
Tax exempt 112 121
Interest and dividends on securities    
Taxable 2,764 4,057
Tax exempt 697 689
Interest on short-term investments 11 18
Total interest income 29,775 30,750
Interest on deposits 6,761 6,685
Interest on borrowings    
Short-term 113 171
Long-term 404 360
Total interest expense 7,278 7,216
NET INTEREST INCOME 22,497 23,534
Provision for loan losses 799 5,600
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 21,698 17,934
NONINTEREST INCOME    
Wealth advisory fees 914 818
Investment brokerage fees 800 731
Service charges on deposit accounts 1,881 1,963
Loan, insurance and service fees 1,189 1,076
Merchant card fee income 316 234
Other income 665 372
Mortgage banking income 592 (49)
Net securities gains (losses) 3 (198)
Other than temporary impairment on available-for-sale securities:    
Total impairment losses recognized on securities (510) (121)
Loss recognized in other comprehensive income 0 0
Net impairment loss recognized in earnings (510) (121)
Total noninterest income 5,850 4,826
NONINTEREST EXPENSE    
Salaries and employee benefits 9,075 8,173
Occupancy expense 885 875
Equipment costs 617 554
Data processing fees and supplies 841 1,112
Other expense 3,262 3,454
Total noninterest expense 14,680 14,168
INCOME BEFORE INCOME TAX EXPENSE 12,868 8,592
Income tax expense 4,242 2,627
NET INCOME $ 8,626 $ 5,965
BASIC WEIGHTED AVERAGE COMMON SHARES 16,280,416 16,195,352
BASIC EARNINGS PER COMMON SHARE $ 0.53 $ 0.37
DILUTED WEIGHTED AVERAGE COMMON SHARES 16,439,243 16,285,161
DILUTED EARNINGS PER COMMON SHARE $ 0.52 $ 0.37