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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2018
INTEREST AND DIVIDEND INCOME          
Interest and Fees on Loans $ 24,706 $ 24,620 $ 74,657 $ 70,543  
Interest on Deposits at Banks 64 182 229 572  
Interest and Dividends on Investment Securities:          
Fully Taxable 1,557 2,018 5,621 6,671  
Exempt from Federal Taxes 969 1,132 3,017 3,606  
Total Interest and Dividend Income 27,296 27,952 83,524 81,392  
INTEREST EXPENSE          
Interest-Bearing Checking Accounts 264 500 1,061 1,435  
Savings Deposits 806 2,317 4,450 5,926  
Time Deposits over $250,000 292 451 1,263   $ 1,362
Other Time Deposits 576 1,255 2,360 3,099  
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase 17 28 55 75  
Federal Home Loan Bank Advances 219 820 865 3,513  
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts 173 250 574 780  
Interest on Financing Leases 49 28 148 71  
Total Interest Expense 2,396 5,649 10,776 16,261  
NET INTEREST INCOME 24,900 22,303 72,748 65,131  
Provision for Loan Losses 2,271 518 8,083 1,445  
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 22,629 21,785 64,665 63,686  
NONINTEREST INCOME          
Insurance Commissions 1,713 1,936 5,077 5,590  
Net (Loss) Gain on Securities (72) 146 (552) 222  
Net Gain on Sales of Loans 1,433 257 2,193 501  
Other Operating Income 739 517 2,876 1,020  
Total Noninterest Income 8,697 7,691 23,555 21,474  
NONINTEREST EXPENSE          
Salaries and Employee Benefits 10,408 10,015 31,003 29,061  
Occupancy Expenses, Net 1,427 1,324 4,221 4,023  
Technology and Equipment Expense 3,228 3,305 9,807 9,689  
FDIC Assessments 309 (480) 770 (56)  
Other Operating Expense 2,115 2,627 6,685 7,634  
Total Noninterest Expense 17,487 16,791 52,486 50,351  
INCOME BEFORE PROVISION FOR INCOME TAXES 13,839 12,685 35,734 34,809  
Provision for Income Taxes 2,793 2,618 7,402 7,074  
NET INCOME $ 11,046 $ 10,067 $ 28,332 $ 27,735  
Average Shares Outstanding:          
Basic (in shares) [1] 15,472 15,404 15,453 15,375  
Diluted (in shares) [1] 15,481 15,441 15,467 15,417  
Per Common Share:          
Basic Earnings (in dollars per share) $ 0.71 $ 0.65 $ 1.83 $ 1.80  
Diluted Earnings (in dollars per share) $ 0.71 $ 0.65 $ 1.83 $ 1.80  
Income From Fiduciary Activities          
NONINTEREST INCOME          
Revenue from contract with customer $ 2,265 $ 2,212 $ 6,613 $ 6,571  
Fees for Other Services to Customers          
NONINTEREST INCOME          
Revenue from contract with customer $ 2,619 $ 2,623 $ 7,348 $ 7,570  
[1] 2019 Share and Per Share Amounts have been restated for the September 25, 2020 3% stock dividend.