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Condensed Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest income:        
Interest and fees on loans $ 11,724 $ 11,039 $ 22,776 $ 21,851
Interest on investment securities 2,430 2,545 4,791 5,068
Interest on deposits with other financial institutions 18 16 44 43
Total interest income 14,172 13,600 27,611 26,962
Interest expense:        
Interest on deposits 513 583 1,045 1,192
Interest on securities sold under agreements to repurchase 15 10 29 22
Interest on FHLB borrowings 157 65 310 133
Interest on other borrowings 13 1 13 1
Interest on subordinated debentures 130 129 258 255
Total interest expense 828 788 1,655 1,603
Net interest income 13,344 12,812 25,956 25,359
Provision for loan losses 143 128 408 451
Net interest income after provision for loan losses 13,201 12,684 25,548 24,908
Other income:        
Trust revenues 860 848 1,780 1,781
Brokerage commissions 306 233 584 483
Insurance commissions 474 441 1,109 999
Service charges 1,278 1,353 2,467 2,497
Securities gains, net 1 543 230 734
Mortgage banking revenue, net 210 158 377 256
ATM / debit card revenue 1,018 1,002 2,024 1,975
Other 390 412 765 746
Total other income 4,537 4,990 9,336 9,471
Other expense:        
Salaries and employee benefits 6,297 6,054 12,353 12,107
Net occupancy and equipment expense 1,926 2,114 3,905 4,263
Net Other Real Estate Owned (Income) Expense 9 (39) 1 (18)
FDIC insurance 202 199 405 405
Amortization of intangible assets 156 163 311 325
Stationery and supplies 143 173 295 328
Legal and professional 600 677 1,182 1,239
Marketing and donations 277 245 494 509
Other 1,620 1,628 3,088 3,016
Total other expense 11,230 11,214 22,034 22,174
Income before income taxes 6,508 6,460 12,850 12,205
Income taxes 2,352 2,431 4,655 4,569
Net income 4,156 4,029 8,195 7,636
Dividends on preferred shares 550 1,104 1,100 2,208
Net income available to common stockholders $ 3,606 $ 2,925 $ 7,095 $ 5,428
Per share data:        
Basic earnings per common share $ 0.50 $ 0.49 $ 1.00 $ 0.92
Diluted net income per common share available to common stockholders 0.49 0.48 0.97 0.91
Cash dividends declared per common share $ 0.29 $ 0.26 $ 0.29 $ 0.26