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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Interest and Dividend Income:      
Loans including fees $ 97,005 $ 81,209 $ 71,814
Securities:      
Taxable 8,165 9,134 10,977
Tax-exempt 2,983 3,390 3,778
Dividends 721 582 609
Total interest and dividend income 108,874 94,315 87,178
Interest Expense:      
Deposits 9,312 8,470 8,498
Borrowed funds 4,021 2,981 3,222
Subordinated debentures (includes $288, $340, and $378 accumulated other comprehensive income reclassification for change in fair value of interest rate swap agreements in 2017, 2016, and 2015) 4,032 1,577 751
Total interest expense 17,365 13,028 12,471
Net Interest Income 91,509 81,287 74,707
Provision for loan losses 6,655 4,149 2,560
Net Interest Income After Provision for Loan Losses 84,854 77,138 72,147
Non-Interest Income:      
Service charges on deposit accounts 4,809 4,297 4,442
Other service charges and fees 2,454 2,539 3,089
Wealth and asset management fees 3,724 3,087 2,977
Net realized gains on available-for-sale securities (includes $1,543, $1,005, and $666 accumulated other comprehensive income reclassifications for net realized gains on available-for-sale securities in 2017, 2016, and 2015) 1,543 1,005 666
Net realized gains (losses) on trading securities 93 70 (211)
Net unrealized gains (losses) on trading securities 788 433 (2)
Mortgage banking 906 1,095 746
Bank owned life insurance 1,659 1,082 1,194
Card processing and interchange income 3,763 3,396 3,417
Gain on sale of branch 536 0 0
Other 1,160 687 776
Total non-interest income 21,435 17,691 17,094
Non-Interest Expenses:      
Salaries 26,205 23,472 21,652
Employee benefits (includes $192, $184, and $173 accumulated other comprehensive income reclassifications for net amortization of actuarial losses in 2017, 2016, and 2015) 9,821 8,722 7,911
Net occupancy expense 9,546 8,064 7,000
Amortization of core deposit intangible 1,229 1,125 1,008
Data processing 3,944 4,447 4,297
State and local taxes 2,815 2,171 1,868
Legal, professional and examination fees 1,819 1,772 1,553
Advertising 2,243 1,799 1,580
FDIC insurance 1,182 1,229 1,278
Directors fees and benefits 915 1,582 812
Prepayment penalties - long-term borrowings 0 1,506 0
Core processing conversion costs 0 1,693 108
Merger costs 0 486 308
Card processing and interchange expenses 2,116 1,889 2,295
Other 8,202 7,161 7,082
Total non-interest expenses 70,037 67,118 58,752
Income Before Income Taxes 36,252 27,711 30,489
Income Tax Expense (includes $372, $168, and $40 income tax expense reclassification items in 2017, 2016, and 2015) 12,392 7,171 8,292
Net Income 23,860 20,540 22,197
Other Comprehensive Income (Loss):      
Net change in unrealized (losses) gains on available-for-sale securities, net of reclassification and tax (1,004) (2,136) 793
Change in actuarial gain (loss), for post-employment health care plan, net of amortization and tax 825 (64) (90)
Change in fair value of interest rate swap agreements designated as a cash flow hedge, net of interest and tax 194 180 137
Total other comprehensive (loss) income 15 (2,020) 840
Comprehensive Income $ 23,875 $ 18,520 $ 23,037
Earnings Per Share:      
Basic $ 1.57 $ 1.42 $ 1.54
Diluted $ 1.57 $ 1.42 $ 1.54