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Income Statement - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
INTEREST INCOME        
Loans $ 48,219 $ 43,166 $ 93,384 $ 86,910
Investment securities and other 1,724 1,578 3,442 3,247
TOTAL INTEREST INCOME 49,943 44,744 96,826 90,157
INTEREST EXPENSE        
Deposits 6,123 5,004 11,706 9,969
Federal Home Loan Bank advances 1,166 244 1,772 499
Short-term borrowings and repurchase agreements 180 318 208 544
Subordinated debentures issued to capital trusts 238 252 440 493
Subordinated notes 1,024 1,025 2,049 2,050
TOTAL INTEREST EXPENSE 8,731 6,843 16,175 13,555
NET INTEREST INCOME 41,212 37,901 80,651 76,602
Provision for Loan Losses 1,950 1,950 3,900 4,200
Net Interest Income After Provision for Loan Losses 39,262 35,951 76,751 72,402
NON-INTEREST INCOME        
Commissions 312 306 560 572
Service charges and ATM fees 5,488 5,394 10,732 10,662
Net realized gains on sales of loans 559 752 1,021 1,624
Late charges and fees on loans 385 608 774 1,486
Gain (loss) on derivative interest rate products 11 (20) 48 (13)
Amortization of Income Expense Related to Business Acquisitions 0 4 0 (485)
Other income 704 1,052 1,259 1,946
Gain Realized on Termination of Loss Sharing Agreements 0 7,704 0 7,704
TOTAL NON-INTEREST INCOME 7,459 15,800 14,394 23,496
NON-INTEREST EXPENSE        
Salaries and employee benefits 14,947 14,498 29,570 29,831
Net occupancy and equipment expense 6,298 6,025 12,683 12,341
Postage 834 874 1,700 1,807
Insurance 650 747 1,321 1,545
Advertising 632 656 1,303 1,069
Office supplies and printing 301 233 534 930
Telephone 792 789 1,511 1,599
Legal, audit and other professional fees 689 1,061 1,498 1,381
Expense on Other Real Estate Owned 2,737 677 3,878 1,251
Partnership Tax Credit Investment Amortization 91 217 393 495
Acquired Deposit Intangible Asset Amortization 412 412 825 825
Other operating expenses 1,532 2,182 3,012 3,867
TOTAL NON-INTEREST EXPENSE 29,915 28,371 58,228 56,941
Income Before Income Taxes 16,806 23,380 32,917 38,957
Provision for Income Taxes 2,967 7,204 5,612 11,262
Net income $ 13,839 $ 16,176 $ 27,305 $ 27,695
Basic Earnings Per Share $ 0.98 $ 1.15 $ 1.93 $ 1.98
Diluted Earnings Per Share 0.97 1.14 1.91 1.95
Dividends Declared Per Share $ 0.28 $ 0.24 $ 0.56 $ 0.46