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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest Income        
Interest and Fees on Loans & Leases $ 34,835 $ 30,959 $ 102,728 $ 86,930
Interest on Deposits with Banks 1,396 638 3,682 1,737
Interest on Investment Securities:        
Taxable 2,332 2,074 7,003 6,770
Exempt from Federal Tax 247 394 1,196 1,217
Total Interest Income 38,810 34,065 114,609 96,654
Interest Expense        
Deposits 3,392 2,020 9,325 4,954
Subordinated Debentures 138 137 424 385
Total Interest Expense 3,530 2,157 9,749 5,339
Net Interest Income 35,280 31,908 104,860 91,315
Provision for Credit Losses 0 2,500 200 3,333
Net Interest Income After Provision for Loan Losses 35,280 29,408 104,660 87,982
Non-Interest Income        
Service Charges on Deposit Accounts 958 915 2,735 2,574
Net Gain (Loss) on Sale of Investment Securities 1 0 1 (1,330)
Increase in Cash Surrender Value of Bank Owned Life Insurance 512 473 1,509 1,385
Debit Card and ATM Fees 1,306 1,101 3,774 3,213
Net Gain on Deferred Compensation Investments 207 715 2,070 1,904
Other 990 1,004 2,749 3,410
Total Non-Interest Income 3,974 4,208 12,838 11,156
Non-Interest Expense        
Salaries and Employee Benefits 14,321 12,329 41,184 37,509
Net Gain on Deferred Compensation Investments 207 715 2,070 1,904
Occupancy 1,107 984 3,161 2,833
Equipment 1,188 1,078 3,541 3,119
Marketing 235 257 848 976
Legal 600 261 2,320 1,553
FDIC Insurance 153 227 624 693
Other 3,045 2,770 8,118 8,115
Total Non-Interest Expense 20,856 18,621 61,866 56,702
Income Before Provision for Income Taxes 18,398 14,995 55,632 42,436
Provision for Income Taxes 4,660 2,995 14,240 9,945
Net Income $ 13,738 $ 12,000 $ 41,392 $ 32,491
Basic Earnings Per Common Share (in dollars per share) $ 17.45 $ 15.12 $ 52.64 $ 40.26