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Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest income:        
Loans, including fees $ 18,268 $ 17,769 $ 36,322 $ 35,252
Securities and other investments:        
Taxable 1,853 2,064 3,778 4,200
Nontaxable 559 661 1,143 1,354
Federal funds sold 2 1 4 2
Time and interest bearing deposits in other banks 35 11 72 27
Other investments 81 89 160 159
Total interest income 20,798 20,595 41,479 40,994
Interest expense:        
Deposits 921 858 1,868 1,729
Securities sold under agreements to repurchase 242 199 472 379
Other borrowings and payables 103 105 200 211
Junior subordinated debentures 151 320 301 667
Total interest expense 1,417 1,482 2,841 2,986
Net interest income 19,381 19,113 38,638 38,008
Provision for loan losses 1,100 1,200 7,100 1,750
Net interest income after provision for loan losses 18,281 17,913 31,538 36,258
Non-interest income:        
Service charges on deposits 2,137 2,448 4,257 4,828
Gain on sale of securities, net 1,128 128 1,243 128
ATM and debit card income 1,865 1,853 3,706 3,567
Income from death benefit on BOLI/executive officer life insurance 160 0 160 3,000
Other charges and fees 876 832 1,767 1,655
Total non-interest income 6,166 5,261 11,133 13,178
Non-interest expenses:        
Salaries and employee benefits 8,197 8,488 16,139 17,301
Occupancy expense 3,865 3,689 7,550 7,480
FDIC insurance 331 251 612 513
Other 4,612 4,695 8,991 9,531
Total non-interest expenses 17,005 17,123 33,292 34,825
Income before income taxes 7,442 6,051 9,379 14,611
Income tax expense 2,343 1,935 2,789 3,637
Net earnings 5,099 4,116 6,590 10,974
Dividends on preferred stock 172 170 345 350
Net earnings available to common shareholders $ 4,927 $ 3,946 $ 6,245 $ 10,624
Earnings per share:        
Basic (in dollars per share) $ 0.43 $ 0.35 $ 0.55 $ 0.94
Diluted (in dollars per share) $ 0.42 $ 0.34 $ 0.54 $ 0.91
Weighted average number of shares outstanding:        
Basic (in shares) 11,324 11,277 11,321 11,268
Diluted (in shares) 11,850 11,912 11,854 11,892
Dividends declared per common share (in dollars per share) $ 0.09 $ 0.09 $ 0.18 $ 0.18