XML 14 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest income:        
Loans (including fee income) $ 30,252 $ 29,228 $ 59,635 $ 57,177
Mortgage-backed securities, CMOs and other asset-backed securities 3,898 3,648 7,715 7,497
U.S. GSE securities 301 296 601 652
State and municipal obligations 1,010 943 2,005 1,837
Corporate bonds 293 279 583 556
Deposits with banks 71 35 117 72
Other interest and dividend income 409 304 795 549
Total interest income 36,234 34,733 71,451 68,340
Interest expense:        
Savings, NOW and money market deposits 1,812 1,289 3,363 2,567
Certificates of deposit of $100,000 or more 431 116 810 331
Other time deposits 179 123 357 317
Federal funds purchased and repurchase agreements 355 293 671 478
Federal Home Loan Bank advances 1,529 844 2,678 1,671
Subordinated debentures 1,135 1,135 2,270 2,270
Junior subordinated debentures   343 48 684
Total interest expense 5,441 4,143 10,197 8,318
Net interest income 30,793 30,590 61,254 60,022
Provision for loan losses 950 900 1,750 2,150
Net interest income after provision for loan losses 29,843 29,690 59,504 57,872
Non interest income:        
Service charges and other fees 2,220 2,091 4,270 4,083
Net securities gains   383   449
Title fee income 541 437 1,091 914
Gain on sale of Small Business Administration loans 799 343 1,342 457
BOLI income 567 431 1,127 802
Other operating income 382 584 801 1,559
Total non interest income 4,509 4,269 8,631 8,264
Non interest expense:        
Salaries and employee benefits 11,397 10,616 22,701 21,153
Occupancy and equipment 3,439 3,259 6,837 6,183
Technology and communications 1,390 1,318 2,725 2,403
Marketing and advertising 1,577 1,209 2,488 1,966
Professional services 642 1,039 1,423 2,047
FDIC assessments 332 537 643 1,045
Acquisition costs       (270)
Amortization of other intangible assets 274 672 553 1,348
Other operating expenses 1,955 1,791 3,932 3,473
Total non interest expense 21,006 20,441 41,302 39,348
Income before income taxes 13,346 13,518 26,833 26,788
Income tax expense 4,505 4,664 8,821 9,308
Net income $ 8,841 $ 8,854 $ 18,012 $ 17,480
Basic earnings per share (in dollars per share) $ 0.45 $ 0.51 $ 0.91 $ 1
Diluted earnings per share (in dollars per share) $ 0.45 $ 0.5 $ 0.91 $ 0.99