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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
INTEREST AND DIVIDEND INCOME        
Interest and Fees on Loans $ 13,569 $ 14,548 $ 41,155 $ 44,277
Interest on Deposits at Banks 23 22 80 66
Interest and Dividends on Investment Securities:        
Fully Taxable 2,191 3,034 7,309 9,707
Exempt from Federal Taxes 1,385 1,393 4,095 4,394
Total Interest and Dividend Income 17,168 18,997 52,639 58,444
INTEREST EXPENSE        
NOW Accounts 675 1,071 2,710 3,763
Savings Deposits 319 483 1,005 1,489
Time Deposits of $100,000 or More 459 659 1,636 1,990
Other Time Deposits 855 1,274 3,075 3,918
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase 6 18 17 65
Federal Home Loan Bank Advances 174 696 543 2,998
Junior Subordinated Obligations Issued to Unconsolidated Subsidary Trusts 155 144 468 434
Total Interest Expense 2,643 4,345 9,454 14,657
NET INTEREST INCOME 14,525 14,652 43,185 43,787
Provision for Loan Losses 150 175 670 565
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 14,375 14,477 42,515 43,222
NONINTEREST INCOME        
Income from Fiduciary Activities 1,563 1,550 4,786 4,622
Fees for Other Services to Customers 2,097 2,092 6,111 6,065
Insurance Commissions 2,223 1,994 6,219 5,275
Gain on Securities Transactions 64 1,771 709 2,795
Net Gains on Sale of Loans 600 219 1,494 437
Other Operating Income 288 255 883 535
Total Noninterest Income 6,835 7,881 20,202 19,729
NONINTEREST EXPENSE        
Salaries and Employee Benefits 7,964 7,927 23,661 22,362
Occupancy Expense, Net 1,779 1,859 5,773 5,671
FDIC Assessments 255 260 766 1,040
Prepayment Penalty on FHLB Advances 0 1,638 0 1,638
Other Operating Expense 2,924 2,919 8,519 8,382
Total Noninterest Expense 12,922 14,603 38,719 39,093
INCOME BEFORE PROVISION FOR INCOME TAXES 8,288 7,755 23,998 23,858
Provision for Income Taxes 2,540 2,383 7,368 7,356
Net Income $ 5,748 $ 5,372 $ 16,630 $ 16,502
Average Shares Outstanding:        
Basic, in shares 12,012 [1] 11,989 [1] 12,004 [1] 11,954 [1]
Diluted, in shares 12,032 [1] 12,011 [1] 12,022 [1] 11,982 [1]
Per Common Share:        
Basic Earnings, in dollars per share $ 0.48 [1] $ 0.45 [1] $ 1.39 [1] $ 1.38 [1]
Diluted Earnings, in dollars per share $ 0.48 [1] $ 0.45 [1] $ 1.38 [1] $ 1.38 [1]
[1] Share and Per Share Amounts have been restated for the September 2012 2% stock dividend.