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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest Income        
Interest and fees on loans $ 32,813 $ 29,350 $ 94,014 $ 84,835
Interest on U.S. government and sponsored enterprise obligations (taxable) 4,408 4,177 13,019 12,788
Interest on state and political subdivision obligations (nontaxable) 659 686 1,989 2,079
Interest on deposits in other banks and other investments 677 497 1,902 1,362
Total interest income 38,557 34,710 110,924 101,064
Interest Expense        
Interest on deposits 5,255 3,027 13,463 8,568
Interest on borrowings 2,021 1,665 6,099 4,302
Interest on subordinated debentures 858 858 2,556 2,553
Total interest expense 8,134 5,550 22,118 15,423
Net interest income 30,423 29,160 88,806 85,641
Provision for credit losses 354 817 840 2,797
Net interest income after provision for credit losses 30,069 28,343 87,966 82,844
Non-Interest Income        
Debit card income 2,173 2,061 6,228 5,887
Service charges on deposit accounts 1,910 1,852 5,679 5,632
Mortgage banking income, net 1,758 2,076 4,758 5,566
Income from fiduciary services 1,339 1,229 4,029 3,831
Bank-owned life insurance 615 600 1,950 1,601
Bank-owned life insurance 606 603 1,823 1,750
Other service charges and fees 596 589 1,564 1,558
Net gain on sale of securities 664 827 695 827
Other income 731 462 1,971 2,107
Total non-interest income 10,392 10,299 28,697 28,759
Non-Interest Expense        
Salaries and employee benefits 13,143 12,145 38,433 36,240
Furniture, equipment and data processing 2,575 2,429 7,710 7,204
Net occupancy costs 1,614 1,599 5,112 5,234
Consulting and professional fees 958 714 2,878 2,412
Debit card expense 833 662 2,339 2,034
Regulatory assessments 447 574 1,447 1,607
Other real estate owned and collection costs, net 239 258 565 558
Amortization of intangible assets 182 473 544 1,417
Other expenses 3,175 2,971 9,337 8,705
Total non-interest expense 23,166 21,825 68,365 65,411
Income before income tax expense 17,295 16,817 48,298 46,192
Income tax expense 3,238 5,478 9,204 14,543
Net Income $ 14,057 $ 11,339 $ 39,094 $ 31,649
Per Share Data        
Basic earnings per share $ 0.90 $ 0.72 $ 2.50 $ 2.03
Diluted earnings per share $ 0.90 $ 0.72 $ 2.50 $ 2.02
Weighted average number of common shares outstanding 15,580,782 15,515,189 15,565,355 15,505,698
Diluted weighted average number of common shares outstanding 15,638,986 15,589,008 15,621,400 15,580,072
Cash dividends declared per share $ 0.30 $ 0.23 $ 0.85 $ 0.69