XML 37 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Interest and Dividend Income:      
Loans including fees $ 71,814 $ 69,512 $ 53,927
Securities:      
Taxable 10,977 13,257 13,456
Tax-exempt 3,778 3,713 3,828
Dividends 609 400 205
Total interest and dividend income 87,178 86,882 71,416
Interest Expense:      
Deposits 8,498 8,300 7,995
Borrowed funds 3,222 3,241 3,447
Subordinated debentures (includes $378, $384, and $400 accumulated other comprehensive income reclassification for change in fair value of interest rate swap agreements in 2015, 2014, and 2013) 751 746 770
Total interest expense 12,471 12,287 12,212
Net Interest Income 74,707 74,595 59,204
Provision for loan losses 2,560 3,840 6,138
Net Interest Income After Provision for Loan Losses 72,147 70,755 53,066
Non-Interest Income:      
Wealth and asset management fees 2,977 2,860 2,426
Service charges on deposit accounts 4,442 4,560 4,272
Other service charges and fees 3,089 2,809 2,179
Net realized gains on available-for-sale securities (includes $666, $429, and $355 accumulated other comprehensive income reclassifications for net realized gains on available-for-sale securities in 2015, 2014, and 2013) 666 429 355
Net realized gains (losses) on trading securities (211) 10 579
Net unrealized gains (losses) on trading securities (2) 111 149
Mortgage banking 746 781 940
Bank owned life insurance 1,194 1,041 1,552
Other 1,898 1,720 1,314
Total non-interest income 14,799 14,321 13,766
Non-Interest Expenses:      
Salaries 21,652 19,530 15,467
Employee benefits 7,911 7,461 6,250
Net occupancy expense 7,000 6,911 5,506
Amortization of core deposit intangible 1,008 1,180 251
Data processing 4,405 3,996 3,469
State and local taxes 1,868 1,895 1,549
Legal, professional and examination fees 1,553 1,363 1,318
Advertising 1,580 1,455 939
FDIC insurance 1,278 1,322 1,266
Directors fees and benefits 812 625 776
Merger costs 308 0 2,396
Other 7,082 6,950 4,626
Total non-interest expenses 56,457 52,688 43,813
Income Before Income Taxes 30,489 32,388 23,019
Income Tax Expense 8,292 9,314 6,340
Net Income 22,197 23,074 16,679
Other Comprehensive Income (Loss):      
Net change in unrealized gains (losses) on available-for-sale securities, net of reclassification and tax 793 10,372 (23,675)
Change in actuarial (loss) gain, for post-employment health care plan, net of amortization and tax (90) 21 (103)
Change in fair value of interest rate swap agreements designated as a cash flow hedge, net of interest and tax 137 111 409
Other comprehensive income (loss) 840 10,504 (23,369)
Comprehensive Income (Loss) $ 23,037 $ 33,578 $ (6,690)
Earnings Per Share:      
Basic $ 1.54 $ 1.60 $ 1.29
Diluted $ 1.54 $ 1.60 $ 1.29