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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest Income        
Interest and fees on loans $ 29,350 $ 27,395 $ 84,835 $ 82,117
Interest on U.S. government and sponsored enterprise obligations 4,177 4,049 12,788 12,055
Interest on state and political subdivision obligations 686 702 2,079 2,127
Interest on federal funds sold and other investments 497 448 1,362 1,051
Total interest income 34,710 32,594 101,064 97,350
Interest Expense        
Interest on deposits 3,027 2,204 8,568 6,355
Interest on borrowings 1,665 1,161 4,302 3,610
Interest on subordinated debentures 858 857 2,553 2,557
Total interest expense 5,550 4,222 15,423 12,522
Net interest income 29,160 28,372 85,641 84,828
Provision for credit losses 817 1,279 2,797 5,003
Net interest income after provision for credit losses 28,343 27,093 82,844 79,825
Non-Interest Income        
Service charges on deposit accounts 1,852 1,799 5,632 5,356
Mortgage banking income, net 2,076 2,407 5,566 4,921
Debit card income 2,061 1,894 5,887 5,650
Income from fiduciary services 1,229 1,225 3,831 3,736
Bank-owned life insurance 603 585 1,750 1,899
Brokerage and insurance commissions 600 594 1,601 1,569
Other service charges and fees 589 591 1,558 1,494
Net gain on sale of securities 827 0 827 4
Other income 462 1,906 2,107 4,841
Total non-interest income 10,299 11,001 28,759 29,470
Non-Interest Expense        
Salaries and employee benefits 12,359 12,044 36,882 35,634
Furniture, equipment and data processing 2,429 2,349 7,204 7,157
Net occupancy costs 1,599 1,685 5,234 5,352
Consulting and professional fees 714 742 2,412 2,609
Debit card expense 662 669 2,034 2,107
Regulatory assessments 574 667 1,607 2,162
Amortization of intangible assets 473 475 1,417 1,427
Other real estate owned and collection costs, net 258 877 558 2,029
Merger and acquisition costs 0 45 0 866
Other expenses 2,757 2,596 8,063 8,045
Total non-interest expense 21,825 22,149 65,411 67,388
Income before income tax expense 16,817 15,945 46,192 41,907
Income tax expense 5,478 5,042 14,543 12,742
Net Income $ 11,339 $ 10,903 $ 31,649 $ 29,165
Per Share Data        
Basic earnings per share (in dollars per share) $ 0.72 $ 0.70 $ 2.03 $ 1.88
Diluted earnings per share (in dollars per share) $ 0.72 $ 0.70 $ 2.02 $ 1.88
Weighted average number of common shares outstanding (in shares) 15,515,189 15,425,452 15,505,698 15,410,310
Diluted weighted average number of common shares outstanding (in shares) 15,589,008 15,507,561 15,580,072 15,483,320