XML 125 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Interest Income      
Loans $ 68,077 $ 72,621 $ 78,648
Investment securities:      
Taxable 2,695 4,241 4,571
Tax-exempt 2,901 2,882 2,515
Interest-bearing deposits 282 300 466
FHLB stock dividends 826 899 867
Total interest income 74,781 80,943 87,067
Interest Expense      
Deposits 5,913 8,169 12,175
Federal Home Loan Bank advances and other 434 2,424 3,203
Subordinated debentures 601 971 1,278
Securities sold under agreement to repurchase 222 373 530
Total interest expense 7,170 11,937 17,186
Net interest income 67,611 69,006 69,881
Provision for loan losses 1,824 10,924 12,434
Net interest income after provision for loan losses 65,787 58,082 57,447
Noninterest Income      
Service fees and other charges 10,045 10,779 11,387
Mortgage banking income 8,443 9,665 6,437
Insurance commissions 9,627 8,676 7,109
Gain on sale of non-mortgage loans 101 70 361
Gain (loss) on sale or call of securities 97 2,139 218
Other-than-temporary impairment (OTTI) losses on investment securities      
Total gains (impairment losses) on investment securities (337) (31) (44)
Losses recognized in other comprehensive income 0 26 42
Net impairment loss recognized in earnings (337) (5) (2)
Trust income 761 616 599
Income from bank owned life insurance 883 924 929
Other noninterest income 950 1,510 478
Total noninterest income 30,570 34,374 27,516
Noninterest Expense      
Compensation and benefits 34,301 32,566 31,554
Occupancy 6,762 7,578 7,166
FDIC insurance 1,616 2,691 2,922
Data processing 5,125 4,660 4,257
Acquisition related charges 0 0 234
Other noninterest expense 17,040 18,285 16,631
Total noninterest expense 64,844 65,780 62,764
Income before income taxes 31,513 26,676 22,199
Federal income taxes 9,278 8,012 6,665
Net Income 22,235 18,664 15,534
Dividends Accrued on Preferred Shares 0 (900) (1,850)
Accretion on Preferred Shares 0 (359) (178)
Redemption of Preferred Shares 0 642 0
Net Income Applicable to Common Shares $ 22,235 $ 18,047 $ 13,506
Earnings per common share:      
Basic $ 2.28 $ 1.86 $ 1.44
Diluted $ 2.19 $ 1.81 $ 1.42
Dividends declared per common share $ 0.40 $ 0.20 $ 0.05