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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Interest income:      
Loans secured by real estate $ 171,347 $ 169,208 $ 171,594
Other loans 93 105 101
Mortgage-backed securities 186 914 1,413
Investment securities 875 560 503
Federal funds sold and other short-term investments 2,290 2,165 1,845
Total interest income 174,791 172,952 175,456
Interest expense:      
Deposits and escrow 23,005 19,591 19,927
Borrowed funds 23,222 28,825 27,042
Total interest expense 46,227 48,416 46,969
Net interest income 128,564 124,536 128,487
Provision (credit) for loan losses (1,330) (1,872) 369
Net interest income after provision for loan losses 129,894 126,408 128,118
Non-interest income:      
Service charges and other fees 3,323 3,191 3,459
Mortgage banking income 183 1,225 473
Net gain on securities (1) [1] 1,273 952 375
Net (loss) gain on the disposal of other assets 0 649 (21)
Income from Bank Owned Life Insurance (BOLI) 2,405 1,743 1,672
Other 1,432 1,278 1,505
Total non-interest income 8,616 9,038 7,463
Non-interest expense:      
Salaries and employee benefits 31,350 32,462 34,336
Stock benefit plan compensation expense 3,640 3,817 3,957
Occupancy and equipment 10,514 10,177 10,451
Data processing costs 4,017 3,595 3,565
Advertising and marketing 2,685 1,922 1,109
Federal deposit insurance premiums 2,304 2,151 1,951
Provision for losses on OREO 0 0 180
Other 7,983 6,952 7,143
Total non-interest expense 62,493 61,076 62,692
Income before income taxes 76,017 74,370 72,889
Income tax expense 31,245 30,124 29,341
Net income $ 44,772 $ 44,246 $ 43,548
Earnings per Share:      
Basic (in dollars per share) $ 1.24 $ 1.23 $ 1.24
Diluted (in dollars per share) $ 1.23 $ 1.23 $ 1.23
STATEMENTS OF COMPREHENSIVE INCOME      
Net income $ 44,772 $ 44,246 $ 43,548
Amortization and reversal of net unrealized loss on securities transferred from available-for-sale to held-to-maturity, net of tax of $(54), $(29) and $(122) during the years ended December 31, 2015, 2014 and 2013, respectively 71 36 149
Reduction in (adjustment to) non-credit component of other than temprary impairmentsof securities, net of tax (expense) benefit of $4, $(16) and $(16) during the years ended December 31, 2015, 2014 and 2013, respectively (5) 16 16
Reclassification adjustment for securities sold during the period, net of tax benefit of $624, $450 and $50 during the years ended December 31, 2015, 2014 and 2013, respectively (reclassified to net gain on securities) (760) (547) (60)
Net unrealized securities gain (loss) arising during the period, net of deferred tax (expense) benefit of $78, $29 and $(162) during the years ended December 31, 2015, 2014 and 2013, respectively (98) (36) 201
Change in pension and other postretirement obligations, net of deferred tax (expense) benefit of $(451), $2,685 and $(3,765) during the years ended December 31, 2015, 2014 and 2013, respectively 538 (3,257) 4,575
Total other comprehensive income (loss), net of tax (254) (3,788) 4,881
Comprehensive Income $ 44,518 $ 40,458 $ 48,429
[1] Amount includes periodic valuation gains or losses on trading securities.