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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
INTEREST INCOME        
Interest and Fees on Loans $ 16,702 $ 16,680 $ 49,538 $ 48,766
Interest on Federal Funds Sold and Other Short-term Investments 3 2 10 8
Interest and Dividends on Securities:        
Taxable 2,176 2,531 6,830 7,944
Non-taxable 1,538 1,135 4,219 3,136
TOTAL INTEREST INCOME 20,419 20,348 60,597 59,854
INTEREST EXPENSE        
Interest on Deposits 987 1,025 3,002 3,098
Interest on FHLB Advances and Other Borrowings 573 532 1,481 1,448
TOTAL INTEREST EXPENSE 1,560 1,557 4,483 4,546
NET INTEREST INCOME 18,859 18,791 56,114 55,308
Provision for Loan Losses (500) 0 0 550
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 19,359 18,791 56,114 54,758
NON-INTEREST INCOME        
Trust and Investment Product Fees 1,051 901 2,974 2,728
Service Charges on Deposit Accounts 1,237 1,300 3,594 3,552
Insurance Revenues 1,752 1,739 5,812 5,777
Company Owned Life Insurance 205 210 617 603
Interchange Fee Income 547 508 1,593 1,467
Other Operating Income 2,134 599 3,341 1,579
Net Gains on Sales of Loans 831 613 2,364 1,475
Net Gains on Securities 0 567 725 1,039
TOTAL NON-INTEREST INCOME 7,757 6,437 21,020 18,220
NON-INTEREST EXPENSE        
Salaries and Employee Benefits 8,998 7,975 26,082 24,285
Occupancy Expense 1,305 1,262 3,732 3,776
Furniture and Equipment Expense 456 463 1,417 1,472
FDIC Premiums 284 277 850 828
Data Processing Fees 901 935 2,608 2,892
Professional Fees 787 516 2,073 1,761
Advertising and Promotion 2,198 613 3,125 1,635
Intangible Amortization 183 302 630 975
Other Operating Expenses 1,854 1,739 5,597 5,687
TOTAL NON-INTEREST EXPENSE 16,966 14,082 46,114 43,311
Income before Income Taxes 10,150 11,146 31,020 29,667
Income Tax Expense 2,429 3,438 8,668 8,967
NET INCOME $ 7,721 $ 7,708 $ 22,352 $ 20,700
Basic Earnings Per Share (USD per share) $ 0.58 $ 0.58 $ 1.69 $ 1.57
Diluted Earnings Per Share (USD per share) 0.58 0.58 1.69 1.57
Dividends Per Share (USD per share) $ 0.17 $ 0.16 $ 0.51 $ 0.48