XML 71 R4.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
INTEREST AND DIVIDEND INCOME        
Interest and Fees on Loans $ 24,620 $ 20,839 $ 70,543 $ 59,606
Interest on Deposits at Banks 182 182 572 474
Interest and Dividends on Investment Securities:        
Fully Taxable 2,018 2,187 6,671 6,128
Exempt from Federal Taxes 1,132 1,287 3,606 4,295
Total Interest and Dividend Income 27,952 24,495 81,392 70,503
INTEREST EXPENSE        
Interest-Bearing Checking Accounts 500 390 1,435 1,165
Savings Deposits 2,317 901 5,926 2,134
Time Deposits over $250,000 451 301 1,362 833
Other Time Deposits 1,255 370 3,099 911
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase 28 15 75 47
Federal Home Loan Bank Advances 820 1,270 3,513 2,340
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts 250 251 780 712
Interest on Financing Leases 28 0 71 0
Total Interest Expense 5,649 3,498 16,261 8,142
NET INTEREST INCOME 22,303 20,997 65,131 62,361
Provision for Loan Losses 518 586 1,445 1,961
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 21,785 20,411 63,686 60,400
NONINTEREST INCOME        
Insurance Commissions 1,936 2,024 5,590 6,119
Net Gain on Securities Transactions 146 114 222 355
Net Gain on Sales of Loans 257 54 501 115
Other Operating Income 517 291 1,020 900
Total Noninterest Income 7,691 7,350 21,474 22,150
NONINTEREST EXPENSE        
Salaries and Employee Benefits 10,015 9,771 29,061 28,952
Occupancy Expenses, Net 1,324 1,132 4,023 3,742
Technology and Equipment Expense 3,305 2,759 9,689 8,306
FDIC Assessments (480) 218 (56) 658
Other Operating Expense 2,627 2,146 7,634 6,516
Total Noninterest Expense 16,791 16,026 50,351 48,174
INCOME BEFORE PROVISION FOR INCOME TAXES 12,685 11,735 34,809 34,376
Provision for Income Taxes 2,618 2,475 7,074 6,855
NET INCOME $ 10,067 $ 9,260 $ 27,735 $ 27,521
Average Shares Outstanding:        
Basic (in shares) 14,955 [1] 14,864 [2] 14,927 [1] 14,825 [2]
Diluted (in shares) [2] 14,991 14,956 14,968 14,914
Per Common Share:        
Basic Earnings (in dollars per share) $ 0.67 [1] $ 0.62 [1] $ 1.86 [1] $ 1.85 [2]
Diluted Earnings (in dollars per share) $ 0.67 [1] $ 0.62 [1] $ 1.85 [1] $ 1.84 [2]
Fiduciary and Trust        
NONINTEREST INCOME        
Revenue from Contract with Customer $ 2,212 $ 2,262 $ 6,571 $ 7,106
Deposit Account        
NONINTEREST INCOME        
Revenue from Contract with Customer $ 2,623 $ 2,605 $ 7,570 $ 7,555
[1] Cash dividends paid per share have been adjusted for the September 27, 2019 3% stock dividend.
[2] 2018 Share and Per Share Amounts have been restated for the September 27, 2019 3% stock dividend.