XML 15 R5.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
INTEREST INCOME:        
Loans, including related fees $ 33,224 $ 27,533 $ 68,258 $ 54,287
Securities:        
Taxable 3,624 3,516 7,653 7,197
Tax-exempt 2,008 1,873 3,946 3,740
Other 400 337 802 651
TOTAL INTEREST INCOME 39,256 33,259 80,659 65,875
INTEREST EXPENSE:        
Interest Expense, Deposits 3,019 3,316 7,549 6,133
Short-term borrowings 101 158 368 481
Other borrowings 241 33 497 83
TOTAL INTEREST EXPENSE 3,361 3,507 8,414 6,697
NET INTEREST INCOME 35,895 29,752 72,245 59,178
Provision for loan losses 2,965 230 5,655 1,700
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 32,930 29,522 66,590 57,478
NON-INTEREST INCOME:        
Trust and financial services 1,288 1,124 2,822 2,328
Service charges and fees on deposit accounts 2,102 2,735 5,100 5,359
Other service charges and fees 3,869 3,408 7,199 6,522
Net securities gains (losses) 31 16 225 12
Gain on sales of mortgage loans 1,205 496 1,903 916
Other 281 1,964 622 2,242
TOTAL NON-INTEREST INCOME 8,776 9,743 17,871 17,379
NON-INTEREST EXPENSE:        
Salaries and employee benefits 14,323 12,546 30,295 25,301
Occupancy expense 2,162 1,813 4,091 3,628
Equipment expense 2,673 1,751 5,134 3,568
FDIC Expense 49 199 (181) 339
Other 7,676 7,183 15,098 14,349
TOTAL NON-INTEREST EXPENSE 26,883 23,492 54,437 47,185
INCOME BEFORE INCOME TAXES 14,823 15,773 30,024 27,672
Income tax expense 2,899 3,204 5,919 5,421
Unrealized gain (loss) on securities, net of tax 11,924 12,569 24,105 22,251
OTHER COMPREHENSIVE INCOME (LOSS)        
Change in unrealized gains/losses on securities, net of reclassifications 3,130 8,341 16,228 18,565
Change in funded status of post retirement benefits 384 304 788 607
COMPREHENSIVE INCOME (LOSS) $ 15,438 $ 21,214 $ 41,121 $ 41,423
PER SHARE DATA        
Basic and Diluted Earnings per Share (in dollars per share) $ 0.87 $ 1.02 $ 1.76 $ 1.81
Weighted average number of shares outstanding (in thousands) 13,715 12,290 13,740 12,286