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Consolidated Condensed Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest Income        
Loans $ 18,139 $ 16,878 $ 36,026 $ 33,529
Investment securities:        
Taxable 918 852 1,832 1,627
Non-taxable 803 756 1,581 1,508
Interest-bearing deposits 41 118 80 219
FHLB stock dividends 136 170 275 365
Total interest income 20,037 18,774 39,794 37,248
Interest Expense        
Deposits 1,312 1,327 2,584 2,685
FHLB advances and other 173 133 283 266
Subordinated debentures 150 146 297 292
Notes payable 37 39 75 80
Total interest expense 1,672 1,645 3,239 3,323
Net interest income 18,365 17,129 36,555 33,925
Provision for loan losses 0 446 120 549
Net interest income after provision for loan losses 18,365 16,683 36,435 33,376
Non-interest Income        
Service fees and other charges 2,690 2,508 5,219 4,832
Insurance commissions 2,344 2,244 5,483 5,274
Mortgage banking income 1,793 1,540 3,568 2,787
Gain on sale of non-mortgage loans 197 36 233 39
Gain on sale or call of securities 0 471 0 471
Trust income 367 302 725 580
Income from Bank Owned Life Insurance 212 235 420 454
Other non-interest income 206 281 443 506
Total non-interest income 7,809 7,617 16,091 14,943
Non-interest Expense        
Compensation and benefits 9,182 8,709 18,105 17,181
Occupancy 1,809 1,704 3,573 3,292
FDIC insurance premium 319 353 670 738
Financial institutions tax 411 514 893 1,009
Data processing 1,599 1,479 3,121 2,844
Amortization of intangibles 162 274 379 563
Other non-interest expense 3,314 3,324 6,953 7,391
Total non-interest expense 16,796 16,357 33,694 33,018
Income before income taxes 9,378 7,943 18,832 15,301
Federal income taxes 2,815 2,254 5,668 4,433
Net Income $ 6,563 $ 5,689 $ 13,164 $ 10,868
Earnings per common share (Note 6)        
Basic (in dollars per share) $ 0.71 $ 0.59 $ 1.42 $ 1.13
Diluted (in dollars per share) 0.7 0.57 1.39 1.08
Dividends declared per share (Note 5) (in dollars per share) $ 0.2 $ 0.15 $ 0.375 $ 0.30
Average common shares outstanding (Note 6)        
Basic 9,268 9,607 9,251 9,644
Diluted 9,349 10,066 9,483 10,096