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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Interest and fees on loans        
Taxable $ 25,803 $ 26,390 $ 77,789 $ 78,555
Tax exempt 109 114 333 357
Interest and dividends on securities        
Taxable 2,034 3,217 7,425 10,635
Tax exempt 698 692 2,094 2,068
Interest on short-term investments 16 18 43 114
Total interest income 28,660 30,431 87,684 91,729
Interest on deposits 5,989 7,090 19,352 20,868
Interest on borrowings        
Short-term 112 159 329 477
Long-term 399 361 1,198 1,084
Total interest expense 6,500 7,610 20,879 22,429
NET INTEREST INCOME 22,160 22,821 66,805 69,300
Provision for loan losses 0 2,400 1,299 10,900
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 22,160 20,421 65,506 58,400
NONINTEREST INCOME        
Wealth advisory fees 959 866 2,770 2,613
Investment brokerage fees 695 741 2,435 2,093
Service charges on deposit accounts 2,045 2,036 5,937 5,938
Loan, insurance and service fees 1,421 1,259 4,062 3,595
Merchant card fee income 297 253 902 775
Other income 669 362 1,614 1,380
Mortgage banking income 590 440 1,574 594
Net securities losses (380) (1) (377) (167)
Other than temporary impairment loss on available-for-sale securities:        
Total impairment losses recognized on securities (67) (33) (1,052) (154)
Loss recognized in other comprehensive income 0 0 26 0
Net impairment loss recognized in earnings (67) (33) (1,026) (154)
Total noninterest income 6,229 5,923 17,891 16,667
NONINTEREST EXPENSE        
Salaries and employee benefits 8,569 8,611 26,007 24,802
Net occupancy expense 803 746 2,519 2,373
Equipment costs 641 536 1,854 1,600
Data processing fees and supplies 1,143 729 3,044 2,820
Other expense 3,146 2,857 9,807 10,025
Total noninterest expense 14,302 13,479 43,231 41,620
INCOME BEFORE INCOME TAX EXPENSE 14,087 12,865 40,166 33,447
Income tax expense 4,740 4,418 13,374 11,046
NET INCOME $ 9,347 $ 8,447 $ 26,792 $ 22,401
BASIC WEIGHTED AVERAGE COMMON SHARES (in shares) 16,340,425 16,208,889 16,312,896 16,201,900
BASIC EARNINGS PER COMMON SHARE (in dollars per share) $ 0.57 $ 0.52 $ 1.64 $ 1.38
DILUTED WEIGHTED AVERAGE COMMON SHARES (in shares) 16,490,390 16,324,058 16,470,485 16,309,814
DILUTED EARNINGS PER COMMON SHARE (in dollars per share) $ 0.57 $ 0.52 $ 1.63 $ 1.37