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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Interest and fees on loans        
Taxable $ 25,795 $ 26,300 $ 51,986 $ 52,165
Tax exempt 112 122 224 243
Interest and dividends on securities        
Taxable 2,627 3,361 5,391 7,418
Tax exempt 699 687 1,396 1,376
Interest on short-term investments 16 78 27 96
Total interest income 29,249 30,548 59,024 61,298
Interest on deposits 6,602 7,093 13,363 13,778
Interest on borrowings        
Short-term 104 147 217 318
Long-term 395 363 799 723
Total interest expense 7,101 7,603 14,379 14,819
NET INTEREST INCOME 22,148 22,945 44,645 46,479
Provision for loan losses 500 2,900 1,299 8,500
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 21,648 20,045 43,346 37,979
NONINTEREST INCOME        
Wealth advisory fees 897 929 1,811 1,747
Investment brokerage fees 940 621 1,740 1,352
Service charges on deposit accounts 2,011 1,939 3,892 3,902
Loan, insurance and service fees 1,452 1,260 2,641 2,336
Merchant card fee income 289 288 605 522
Other income 280 646 945 1,018
Mortgage banking income 392 203 984 154
Net securities gains (losses) 0 32 3 (166)
Other than temporary impairment on available-for-sale securities:        
Total impairment losses recognized on securities (475) 0 (985) (121)
Loss recognized in other comprehensive income 26 0 26 0
Net impairment loss recognized in earnings (449) 0 (959) (121)
Total noninterest income 5,812 5,918 11,662 10,744
NONINTEREST EXPENSE        
Salaries and employee benefits 8,363 8,018 17,438 16,191
Net occupancy expense 831 752 1,716 1,627
Equipment costs 596 510 1,213 1,064
Data processing fees and supplies 1,060 979 1,901 2,091
Other expense 3,399 3,714 6,661 7,168
Total noninterest expense 14,249 13,973 28,929 28,141
INCOME BEFORE INCOME TAX EXPENSE 13,211 11,990 26,079 20,582
Income tax expense 4,392 4,001 8,634 6,628
NET INCOME $ 8,819 $ 7,989 $ 17,445 $ 13,954
BASIC WEIGHTED AVERAGE COMMON SHARES (in shares) 16,324,928 16,201,311 16,298,981 16,198,348
BASIC EARNINGS PER COMMON SHARE (in dollars per share) $ 0.54 $ 0.49 $ 1.07 $ 0.86
DILUTED WEIGHTED AVERAGE COMMON SHARES (in shares) 16,453,561 16,300,229 16,450,832 16,296,684
DILUTED EARNINGS PER COMMON SHARE (in dollars per share) $ 0.54 $ 0.49 $ 1.06 $ 0.86