XML 51 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
INTEREST INCOME:        
Loans, including related fees $ 21,939 $ 22,510 $ 65,782 $ 68,540
Securities:        
Taxable 4,196 5,038 12,938 11,732
Tax-exempt 1,782 1,750 5,294 5,281
Other 459 421 1,301 1,413
TOTAL INTEREST INCOME 28,376 29,719 85,315 86,966
INTEREST EXPENSE:        
Deposits 1,088 1,349 3,611 4,625
Short-term borrowings 49 23 85 62
Other borrowings 94 549 726 2,570
TOTAL INTEREST EXPENSE 1,231 1,921 4,422 7,257
NET INTEREST INCOME 27,145 27,798 80,893 79,709
Provision for loan losses 1,506 495 3,110 6,476
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 25,639 27,303 77,783 73,233
NON-INTEREST INCOME:        
Trust and financial services 1,386 1,402 4,289 4,331
Service charges and fees on deposit accounts 2,813 2,693 8,058 7,341
Other service charges and fees 3,112 2,818 8,940 8,044
Securities gains/(losses), net 0 0 (1) 7
Insurance commissions 2,091 1,896 5,620 5,800
Gain on sales of mortgage loans 519 583 1,352 2,489
Other 573 245 1,676 1,165
TOTAL NON-INTEREST INCOME 10,494 9,637 29,934 29,177
NON-INTEREST EXPENSE:        
Salaries and employee benefits 14,081 13,773 42,064 41,082
Occupancy expense 1,776 1,544 5,490 4,642
Equipment expense 1,905 1,686 5,467 4,724
FDIC Expense 536 500 1,496 1,559
Other 6,407 7,316 17,706 18,394
TOTAL NON-INTEREST EXPENSE 24,705 24,819 72,223 70,401
INCOME BEFORE INCOME TAXES 11,428 12,121 35,494 32,009
Provision for income taxes 3,156 3,649 10,903 9,398
NET INCOME 8,272 8,472 24,591 22,611
OTHER COMPREHENSIVE INCOME (LOSS)        
Change in unrealized gains/losses on securities, net of reclassifications 1,879 (2,322) 11,298 (14,548)
Change in funded status of post retirement benefits 116 340 346 892
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) 1,995 (1,982) 11,644 (13,656)
COMPREHENSIVE INCOME (LOSS) $ 10,267 $ 6,490 $ 36,235 $ 8,955
PER SHARE DATA        
Basic and Diluted Earnings per Share (in dollars per share) $ 0.62 $ 0.64 $ 1.85 $ 1.70
Dividends per Share (in dollars per share) $ 0 $ 0 $ 0.49 $ 0.48
Weighted average number of shares outstanding (in thousands) 13,269 13,307 13,325 13,305