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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest Income        
Interest and fees on loans $ 18,651 $ 18,112 $ 56,077 $ 52,649
Interest on U.S. government and sponsored enterprise obligations 3,598 3,896 11,187 12,250
Interest on state and political subdivision obligations 624 319 1,504 927
Interest on federal funds sold and other investments 183 90 393 266
Total interest income 23,056 22,417 69,161 66,092
Interest Expense        
Interest on deposits 1,557 1,562 4,630 4,678
Interest on borrowings 849 848 2,556 2,500
Interest on junior subordinated debentures 638 638 1,894 1,894
Total interest expense 3,044 3,048 9,080 9,072
Net interest income 20,012 19,369 60,081 57,020
Provision for credit losses 279 539 979 1,675
Net interest income after provision for credit losses 19,733 18,830 59,102 55,345
Non-Interest Income        
Service charges on deposit accounts 1,554 1,600 4,634 4,689
Other service charges and fees 1,682 1,646 4,776 4,584
Income from fiduciary services 1,177 1,212 3,725 3,745
Brokerage and insurance commissions 411 441 1,362 1,378
Bank-owned life insurance 443 377 1,267 975
Mortgage banking income, net 390 55 975 197
Net gain on sale of securities 4 0 4 451
Other income 900 623 2,275 2,131
Total non-interest income 6,561 5,954 19,018 18,150
Non-Interest Expense        
Salaries and employee benefits 8,691 8,078 25,550 24,359
Furniture, equipment and data processing 1,705 1,704 5,530 5,236
Net occupancy 1,194 1,175 3,905 3,825
Consulting and professional fees 470 468 1,734 1,768
Other real estate owned and collection costs 543 637 1,554 1,665
Regulatory assessments 513 511 1,534 1,477
Amortization of intangible assets 288 287 862 861
Merger and acquisition costs 766 0 1,629 0
Other expenses 2,541 2,319 7,371 6,905
Total non-interest expense 16,711 15,179 49,669 46,096
Income before income taxes 9,583 9,605 28,451 27,399
Income Taxes 3,127 3,154 9,191 8,917
Net Income $ 6,456 $ 6,451 $ 19,260 $ 18,482
Per Share Data        
Basic earnings per share (in dollars per share) $ 0.86 $ 0.87 $ 2.58 $ 2.47
Diluted earnings per share (in dollars per share) $ 0.86 $ 0.86 $ 2.57 $ 2.46
Weighted average number of common shares outstanding 7,453,222 7,421,592 7,443,543 7,459,972
Diluted weighted average number of common shares outstanding 7,477,039 7,439,948 7,464,484 7,479,327