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Consolidated Condensed Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest Income        
Loans $ 18,419 $ 17,365 $ 54,445 $ 50,894
Investment securities:        
Taxable 880 933 2,712 2,560
Non-taxable 796 787 2,377 2,295
Interest-bearing deposits 33 64 113 283
FHLB stock dividends 138 137 413 502
Total interest income 20,266 19,286 60,060 56,534
Interest Expense        
Deposits 1,363 1,304 3,947 3,989
FHLB advances and other 178 131 461 397
Subordinated debentures 154 147 451 439
Notes payable 38 41 113 121
Total interest expense 1,733 1,623 4,972 4,946
Net interest income 18,533 17,663 55,088 51,588
Provision for loan losses (27) 406 93 955
Net interest income after provision for loan losses 18,560 17,257 54,995 50,633
Non-interest Income        
Service fees and other charges 2,799 2,660 8,018 7,492
Insurance commissions 2,310 2,366 7,793 7,640
Mortgage banking income 1,680 1,545 5,248 4,332
Gain on sale of non-mortgage loans 543 40 776 79
Gain on sale or call of securities 0 460 0 931
Trust income 370 315 1,095 895
Income from Bank Owned Life Insurance 238 1,130 658 1,584
Other non-interest income 42 840 485 1,346
Total non-interest income 7,982 9,356 24,073 24,299
Non-interest Expense        
Compensation and benefits 9,791 9,287 27,896 26,468
Occupancy 1,788 1,613 5,361 4,905
FDIC insurance premium 329 350 999 1,088
Financial institutions tax 447 515 1,340 1,524
Data processing 1,531 1,489 4,652 4,333
Amortization of intangibles 157 269 536 832
Other non-interest expense 2,805 3,248 9,758 10,639
Total non-interest expense 16,848 16,771 50,542 49,789
Income before income taxes 9,694 9,842 28,526 25,143
Federal income taxes 2,998 2,773 8,666 7,206
Net Income $ 6,696 $ 7,069 $ 19,860 $ 17,937
Earnings per common share (Note 6)        
Basic (in dollars per share) $ 0.72 $ 0.75 $ 2.15 $ 1.87
Diluted (in dollars per share) 0.72 0.71 2.11 1.79
Dividends declared per share (Note 5) (in dollars per share) $ 0.2 $ 0.15 $ 0.575 $ 0.45
Average common shares outstanding (Note 6)        
Basic (in shares) 9,238 9,445 9,247 9,577
Diluted (in shares) 9,322 9,903 9,430 10,031