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Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income:        
Loans, including fees $ 16,838 $ 18,268 $ 33,961 $ 36,322
Securities and other investments:        
Taxable 1,940 1,853 3,976 3,778
Nontaxable 420 559 878 1,143
Federal funds sold 3 2 8 4
Time and interest bearing deposits in other banks 97 35 191 72
Other investments 90 81 178 160
Total interest income 19,388 20,798 39,192 41,479
Interest expense:        
Deposits 903 921 1,810 1,868
Securities sold under agreements to repurchase 233 242 466 472
Other borrowings and payables 91 103 204 200
Junior subordinated debentures 170 151 337 301
Total interest expense 1,397 1,417 2,817 2,841
Net interest income 17,991 19,381 36,375 38,638
Provision for loan losses 2,300 1,100 5,100 7,100
Net interest income after provision for loan losses 15,691 18,281 31,275 31,538
Non-interest income:        
Service charges on deposits 2,391 2,347 4,704 4,679
Gain on sale of securities, net 20 1,128 20 1,243
ATM and debit card income 1,668 1,655 3,277 3,284
Bank Owned Life Insurance Income 0 160 0 160
Other charges and fees 794 847 1,359 1,612
Total non-interest income 4,873 6,137 9,360 10,978
Non-interest expenses:        
Salaries and employee benefits 8,182 8,197 16,172 16,139
Occupancy expense 3,667 3,865 7,264 7,550
ATM and debit card expense 792 693 1,577 1,356
Data Processing 478 467 936 924
FDIC insurance 420 331 849 612
Legal and Professional Fees 436 382 819 727
Other 3,066 3,041 6,183 5,829
Total non-interest expenses 17,041 16,976 33,800 33,137
Income before income taxes 3,523 7,442 6,835 9,379
Income tax expense 1,030 2,343 1,993 2,789
Net earnings 2,493 5,099 4,842 6,590
Dividends on preferred stock 811 172 1,238 345
Net earnings available to common shareholders $ 1,682 $ 4,927 $ 3,604 $ 6,245
Earnings per share:        
Basic (in dollars per share) $ 0.15 $ 0.43 $ 0.32 $ 0.55
Diluted (in dollars per share) $ 0.15 $ 0.42 $ 0.32 $ 0.54
Weighted average number of shares outstanding:        
Basic (in shares) 11,255 11,324 11,258 11,321
Diluted (in shares) 11,255 11,850 11,258 11,854
Dividends declared per common share (in dollars per share) $ 0.09 $ 0.09 $ 0.18 $ 0.18