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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest Income        
Interest and Fees on Loans & Leases $ 34,311 $ 34,716 $ 68,471 $ 67,893
Interest on Deposits with Banks 65 1,161 1,012 2,286
Interest on Investment Securities:        
Taxable 3,175 2,244 6,327 4,671
Exempt from Federal Tax 416 505 846 949
Total Interest Income 37,967 38,626 76,656 75,799
Interest Expense        
Deposits 2,458 3,112 5,602 5,933
Subordinated Debentures 94 141 213 286
Total Interest Expense 2,552 3,253 5,815 6,219
Net Interest Income 35,415 35,373 70,841 69,580
Provision for Credit Losses 300 200 300 200
Net Interest Income After Provision for Credit Losses 35,115 35,173 70,541 69,380
Non-Interest Income        
Service Charges on Deposit Accounts 374 901 1,294 1,777
Net Gain on Sale of Investment Securities 0 0 13 0
Increase in Cash Surrender Value of Bank Owned Life Insurance 520 505 1,029 997
Debit Card and ATM Fees 1,302 1,291 2,579 2,468
Net Gain (Loss) on Deferred Compensation Investments 523 818 (139) 1,863
Other 795 885 1,665 1,759
Total Non-Interest Income 3,514 4,400 6,441 8,864
Non-Interest Expense        
Salaries and Employee Benefits 13,783 13,439 28,663 26,863
Net Gain (Loss) on Deferred Compensation Investments 523 818 (139) 1,863
Occupancy 1,137 1,014 2,243 2,054
Equipment 1,286 1,176 2,454 2,353
Marketing 25 233 270 613
Legal 47 851 77 1,720
FDIC Insurance 7 230 7 471
Other 2,979 2,804 6,002 5,073
Total Non-Interest Expense 19,787 20,565 39,577 41,010
Income Before Provision for Income Taxes 18,842 19,008 37,405 37,234
Provision for Income Taxes 4,533 4,903 8,974 9,580
Net Income $ 14,309 $ 14,105 $ 28,431 $ 27,654
Basic and Diluted Earnings Per Common Share (in dollars per share) $ 18.03 $ 17.92 $ 35.83 $ 35.19