XML 49 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Interest Income    
Interest and fees on loans $ 17,795 $ 18,435
Interest on U.S. government and sponsored enterprise obligations 4,276 4,116
Interest on state and political subdivision obligations 305 365
Interest on federal funds sold and other investments 50 49
Total interest income 22,426 22,965
Interest Expense    
Interest on deposits 1,819 2,538
Interest on borrowings 818 1,418
Interest on junior subordinated debentures 621 638
Total interest expense 3,258 4,594
Net interest income 19,168 18,371
Provision for credit losses 674 1,005
Net interest income after provision for credit losses 18,494 17,366
Non-Interest Income    
Service charges on deposit accounts 1,684 1,156
Other service charges and fees 1,429 845
Income from fiduciary services 1,143 1,439
Mortgage banking income, net 574 336
Brokerage and insurance commissions 412 339
Bank-owned life insurance 338 339
Net gain on sale of securities and other-than-temporary impairment of securities 138 121
Other income 618 653
Total non-interest income 6,336 5,228
Non-Interest Expenses    
Salaries and employee benefits 8,361 6,908
Furniture, equipment and data processing 1,604 1,223
Net occupancy 1,552 1,111
Other real estate owned and collection costs 888 626
Consulting and professional fees 547 490
Regulatory assessments 499 435
Amortization of intangible assets 288 144
Branch acquisition costs 161   
Other expenses 2,600 1,982
Total non-interest expenses 16,500 12,919
Income before income taxes 8,330 9,675
Income Taxes 2,668 3,092
Net Income $ 5,662 $ 6,583
Per Share Data    
Basic earnings per share $ 0.74 $ 0.86
Diluted earnings per share $ 0.74 $ 0.86
Weighted average number of common shares outstanding 7,627,691 7,672,039
Diluted weighted average number of common shares outstanding 7,643,267 7,686,933