XML 43 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
INTEREST AND DIVIDEND INCOME        
Interest and Fees on Loans $ 13,202 $ 12,650 $ 25,976 $ 25,433
Interest on Deposits at Banks 16 19 29 46
Interest and Dividends on Investment Securities:        
Fully Taxable 2,041 1,639 4,049 3,435
Exempt from Federal Taxes 1,436 1,501 2,907 2,891
Total Interest and Dividend Income 16,695 15,809 32,961 31,805
INTEREST EXPENSE        
NOW Accounts 495 786 959 1,564
Savings Deposits 226 277 445 545
Time Deposits of $100,000 or More 201 305 431 624
Other Time Deposits 359 505 750 1,059
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase 5 6 9 9
Federal Home Loan Bank Advances 127 199 272 372
Junior Subordinated Obligations Issued to Unconsolidated Subsidary Trusts 142 145 283 289
Total Interest Expense 1,555 2,223 3,149 4,462
NET INTEREST INCOME 15,140 13,586 29,812 27,343
Provision for Loan Losses 505 100 963 200
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 14,635 13,486 28,849 27,143
NONINTEREST INCOME        
Income from Fiduciary Activities 1,906 1,758 3,779 3,332
Fees for Other Services to Customers 2,377 2,371 4,571 4,653
Insurance Commissions 2,293 2,176 4,737 4,204
Net (Loss) Gain on Securities Transactions (27) 13 (27) 540
Net Gains on Sale of Loans 166 498 289 1,105
Other Operating Income 304 255 556 411
Total Noninterest Income 7,019 7,071 13,905 14,245
NONINTEREST EXPENSE        
Salaries and Employee Benefits 7,880 7,637 15,522 15,258
Occupancy Expense, Net 2,316 2,119 4,657 4,395
FDIC Assessments 282 267 555 531
Other Operating Expense 3,259 3,251 6,469 6,501
Total Noninterest Expense 13,737 13,274 27,203 26,685
INCOME BEFORE PROVISION FOR INCOME TAXES 7,917 7,283 15,551 14,703
Provision for Income Taxes 2,393 2,076 4,707 4,315
Net Income $ 5,524 $ 5,207 $ 10,844 $ 10,388
Average Shares Outstanding:        
Basic, in shares 12,348 [1] 12,261 [1] 12,351 [1] 12,267 [1]
Diluted, in shares 12,369 [1],[2] 12,279 [1],[2] 12,373 [1] 12,285 [1],[2]
Per Common Share:        
Basic Earnings, in dollars per share $ 0.45 [1] $ 0.42 [1] $ 0.88 [1] $ 0.85 [1]
Diluted Earnings, in dollars per share $ 0.45 [1] $ 0.42 [1] $ 0.88 [1] $ 0.85 [1]
[1] Share and Per Share Amounts have been restated for the September 2013 2% stock dividend.
[2] All share and per share amounts have been adjusted for the September 2013 2% stock dividend