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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest Income        
Interest and Fees on Loans & Leases $ 36,409 $ 34,835 $ 104,880 $ 102,728
Interest on Deposits with Banks 81 1,396 1,093 3,682
Interest on Investment Securities:        
Taxable 2,889 2,332 9,216 7,003
Exempt from Federal Tax 414 247 1,260 1,196
Total Interest Income 39,793 38,810 116,449 114,609
Interest Expense        
Deposits 2,011 3,392 7,613 9,325
Subordinated Debentures 83 138 296 424
Total Interest Expense 2,094 3,530 7,909 9,749
Net Interest Income 37,699 35,280 108,540 104,860
Provision for Credit Losses 1,700 0 2,000 200
Net Interest Income After Provision for Loan Losses 35,999 35,280 106,540 104,660
Non-Interest Income        
Service Charges on Deposit Accounts 654 958 1,948 2,735
Net Gain on Sale of Investment Securities 0 1 13 1
Increase in Cash Surrender Value of Bank Owned Life Insurance 528 512 1,557 1,509
Debit Card and ATM Fees 1,465 1,306 4,044 3,774
Net Gain on Deferred Compensation Investments 1,022 207 883 2,070
Other 870 990 2,535 2,749
Total Non-Interest Income 4,539 3,974 10,980 12,838
Non-Interest Expense        
Salaries and Employee Benefits 13,606 14,321 42,269 41,184
Net Gain on Deferred Compensation Investments 1,022 207 883 2,070
Occupancy 1,186 1,107 3,429 3,161
Equipment 1,272 1,188 3,726 3,541
Marketing 245 235 515 848
Legal 23 600 100 2,320
FDIC Insurance 249 153 256 624
Other 3,180 3,045 9,182 8,118
Total Non-Interest Expense 20,783 20,856 60,360 61,866
Income Before Provision for Income Taxes 19,755 18,398 57,160 55,632
Provision for Income Taxes 4,945 4,660 13,919 14,240
Net Income $ 14,810 $ 13,738 $ 43,241 $ 41,392
Basic and Diluted Earnings Per Common Share (in dollars per share) $ 18.66 $ 17.45 $ 54.49 $ 52.64