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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest Income        
Interest and fees on loans $ 19,342 $ 17,757 $ 37,426 $ 34,537
Interest on U.S. government and sponsored enterprise obligations 3,717 4,124 7,589 8,354
Interest on state and political subdivision obligations 493 314 880 608
Interest on federal funds sold and other investments 105 89 210 176
Total interest income 23,657 22,284 46,105 43,675
Interest Expense        
Interest on deposits 1,544 1,565 3,073 3,116
Interest on borrowings 847 845 1,707 1,652
Interest on junior subordinated debentures 631 631 1,256 1,256
Total interest expense 3,022 3,041 6,036 6,024
Net interest income 20,635 19,243 40,069 37,651
Provision for credit losses 254 643 700 1,136
Net interest income after provision for credit losses 20,381 18,600 39,369 36,515
Non-Interest Income        
Service charges on deposit accounts 1,593 1,620 3,080 3,089
Other service charges and fees 1,584 1,543 3,094 2,938
Income from fiduciary services 1,328 1,349 2,548 2,533
Brokerage and insurance commissions 502 459 951 937
Bank-owned life insurance 402 292 824 598
Mortgage banking income, net 346 70 585 142
Net gain on sale of securities 0 285 0 451
Other income 555 891 1,375 1,508
Total non-interest income 6,310 6,509 12,457 12,196
Non-Interest Expense        
Salaries and employee benefits 8,484 8,301 16,859 16,281
Furniture, equipment and data processing 1,902 1,743 3,825 3,532
Net occupancy 1,239 1,270 2,711 2,650
Consulting and professional fees 673 782 1,264 1,300
Regulatory assessments 511 485 1,021 966
Other real estate owned and collection costs 449 515 1,011 1,028
Amortization of intangible assets 287 287 574 574
Merger and acquisition costs 128 0 863 0
Other expenses 2,484 2,409 4,830 4,586
Total non-interest expense 16,157 15,792 32,958 30,917
Income before income taxes 10,534 9,317 18,868 17,794
Income Taxes 3,341 3,001 6,064 5,763
Net Income $ 7,193 $ 6,316 $ 12,804 $ 12,031
Per Share Data        
Basic earnings per share (in dollars per share) $ 0.97 $ 0.85 $ 1.72 $ 1.60
Diluted earnings per share (in dollars per share) $ 0.96 $ 0.85 $ 1.71 $ 1.60
Weighted average number of common shares outstanding 7,446,156 7,430,709 7,438,626 7,479,461
Diluted weighted average number of common shares outstanding 7,467,365 7,450,639 7,459,464 7,500,318