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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Interest income:        
Interest and fees on loans $ 26,169 $ 25,513 $ 51,758 $ 50,736
Interest on securities: Taxable 2,699 2,576 5,641 5,421
Interest on securities: Nontaxable 557 647 1,139 1,306
Dividends on Federal Home Loan Bank stock 138 39 280 77
Other interest income 28 24 63 52
Total interest and dividend income 29,591 28,799 58,881 57,592
Interest expense:        
Deposits 3,120 3,096 6,089 6,290
Federal Home Loan Bank advances 1,758 2,679 3,999 5,416
Junior subordinated debentures 241 612 482 1,002
Other interest expense 4 3 7 8
Total interest expense 5,123 6,390 10,577 12,716
Net interest income 24,468 22,409 48,304 44,876
Provision for loan losses 450 700 750 1,300
Net interest income after provision for loan losses 24,018 21,709 47,554 43,576
Noninterest income:        
Wealth management revenues 8,530 7,912 16,595 15,386
Merchant processing fees 0 2,613 1,291 4,590
Net gains on loan sales and commissions on loans originated for others 1,707 3,485 2,946 7,651
Service charges on deposit accounts 824 790 1,578 1,581
Card interchange fees 779 683 1,460 1,282
Income from bank-owned life insurance 441 461 886 928
Net gains (losses) on interest rate swap contracts (37) 152 223 171
Equity in earnings (losses) of unconsolidated subsidiaries (107) (57) (150) (18)
Net gain on sale of business line 0 0 6,265 0
Other income 677 355 1,090 761
Noninterest income, excluding other-than-temporary impairment losses 12,814 16,394 32,184 32,332
Total other-than-temporary impairment losses on securities 0 0 0 (613)
Portion of loss recognized in other comprehensive income (before taxes) 0 0 0 (2,159)
Net impairment losses recognized in earnings 0 0 0 (2,772)
Total noninterest income 12,814 16,394 32,184 29,560
Noninterest expense:        
Salaries and employee benefits 14,771 15,542 29,329 30,984
Net occupancy 1,475 1,364 3,115 2,878
Equipment 1,235 1,192 2,471 2,436
Merchant processing costs 0 2,211 1,050 3,884
Outsourced services 1,015 871 2,059 1,712
Legal, audit and professional fees 598 554 1,216 1,162
FDIC deposit insurance costs 413 451 853 882
Advertising and promotion 540 476 772 831
Amortization of intangibles 164 173 328 346
Foreclosed property costs 43 137 21 184
Debt prepayment penalties 0 0 6,294 0
Other expenses 2,194 2,034 4,232 3,890
Total noninterest expense 22,448 25,005 51,740 49,189
Income before income taxes 14,384 13,098 27,998 23,947
Income tax expense 4,587 4,115 8,903 7,543
Net income $ 9,797 $ 8,983 $ 19,095 $ 16,404
Weighted average common shares outstanding - basic 16,678 16,454 16,653 16,428
Weighted average common shares outstanding - diluted 16,831 16,581 16,817 16,558
Per share information:        
Basic earnings per common share $ 0.59 $ 0.54 $ 1.14 $ 0.99
Diluted earnings per common share $ 0.58 $ 0.54 $ 1.13 $ 0.99
Cash dividends declared per share $ 0.29 $ 0.25 $ 0.58 $ 0.50