XML 18 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
INTEREST AND DIVIDEND INCOME:      
Loans, including related fees $ 86,128 $ 84,022 $ 87,530
Securities:      
Taxable 14,506 15,815 17,015
Tax-exempt 7,269 7,194 7,084
Other 1,477 1,645 1,729
TOTAL INTEREST AND DIVIDEND INCOME 109,380 108,676 113,358
INTEREST EXPENSE:      
Deposits 4,159 3,934 4,624
Short-term borrowings 134 70 99
Other borrowings 114 165 803
TOTAL INTEREST EXPENSE 4,407 4,169 5,526
NET INTEREST INCOME 104,973 104,507 107,832
Provision for loan losses 3,300 4,700 5,072
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 101,673 99,807 102,760
NON-INTEREST INCOME:      
Trust and financial services 5,208 5,586 5,860
Service charges and fees on deposit accounts 10,530 10,145 10,772
Other service charges and fees 12,307 11,798 11,697
Securities gain (loss), net 34 17 (3)
Insurance commissions 2,346 6,945 7,646
Gain on Sale of certain assets and liabilities of Insurance Brokerage Operation 12,822 0 0
Gain on sale of mortgage loans 1,842 1,998 1,849
Other 1,842 2,690 2,964
TOTAL NON-INTEREST INCOME 46,931 39,179 40,785
Labor and Related Expense 52,730 60,109 55,936
NON-INTEREST EXPENSES:      
Occupancy expense 6,865 6,978 7,218
Equipment expense 7,300 6,991 7,269
Federal Deposit Insurance 1,300 1,769 1,931
Other 22,113 22,551 23,230
TOTAL NON-INTEREST EXPENSE 90,308 98,398 95,584
INCOME BEFORE INCOME TAXES 58,296 40,588 47,961
Provision for income taxes 19,883 10,392 14,189
NET INCOME 38,413 30,196 33,772
OTHER COMPREHENSIVE INCOME      
Change in unrealized gains/losses on securities, net of reclassifications and taxes (10,130) (1,225) 13,913
Change in funded status of post-retirement benefits, net of taxes 5,367 $ 6,353 $ (14,473)
COMPREHENSIVE INCOME $ 33,650    
EARNINGS PER SHARE:      
BASIC AND DILUTED (in dollars per share) $ 3.12 $ 2.35 $ 2.55
Weighted average number of shares outstanding (in shares) 12,317 12,836 13,226