XML 50 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Interest income    
Loans, including fees $ 21,325us-gaap_InterestAndFeeIncomeLoansAndLeases $ 19,108us-gaap_InterestAndFeeIncomeLoansAndLeases
Securities 5,845us-gaap_InterestAndDividendIncomeSecurities 6,319us-gaap_InterestAndDividendIncomeSecurities
Other interest income 26us-gaap_OtherInterestAndDividendIncome 13us-gaap_OtherInterestAndDividendIncome
Total interest income 27,196us-gaap_InterestAndDividendIncomeOperating 25,440us-gaap_InterestAndDividendIncomeOperating
Interest expense    
Deposits 899us-gaap_InterestExpenseDeposits 1,012us-gaap_InterestExpenseDeposits
Federal Home Loan Bank advances 995us-gaap_InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesShortTerm 834us-gaap_InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesShortTerm
Subordinated debentures 309us-gaap_InterestExpenseSubordinatedNotesAndDebentures 351us-gaap_InterestExpenseSubordinatedNotesAndDebentures
Other borrowings 10us-gaap_InterestExpenseOther 22us-gaap_InterestExpenseOther
Total interest expense 2,213us-gaap_InterestExpense 2,219us-gaap_InterestExpense
Net interest income 24,983us-gaap_InterestIncomeExpenseNet 23,221us-gaap_InterestIncomeExpenseNet
Provision for loan losses   750us-gaap_ProvisionForLoanAndLeaseLosses
Net interest income after provision for loan losses 24,983us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss 22,471us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss
Non-interest income    
Mortgage banking 1,855us-gaap_FeesAndCommissionsMortgageBankingAndServicing 1,316us-gaap_FeesAndCommissionsMortgageBankingAndServicing
Trust and investment product fees 1,206us-gaap_FeesAndCommissionsFiduciaryAndTrustActivities 1,270us-gaap_FeesAndCommissionsFiduciaryAndTrustActivities
Service charges on deposit accounts 4,621us-gaap_FeesAndCommissionsDepositorAccounts 4,585us-gaap_FeesAndCommissionsDepositorAccounts
Net realized gains on securities (includes $252 accumulated other comprehensive income reclassifications for unrealized net gains on available-for-sale securities in 2015) 252us-gaap_AvailableForSaleSecuritiesGrossRealizedGainLossNet  
Increase in cash surrender value of life insurance 313us-gaap_BankOwnedLifeInsuranceIncome 327us-gaap_BankOwnedLifeInsuranceIncome
Interchange income 1,961msfg_BankCardInterchangeFees 1,735msfg_BankCardInterchangeFees
(Loss) on sale and write-down of OREO (11)us-gaap_GainsLossesOnSalesOfOtherRealEstate (77)us-gaap_GainsLossesOnSalesOfOtherRealEstate
Other income 1,265us-gaap_NoninterestIncomeOtherOperatingIncome 117us-gaap_NoninterestIncomeOtherOperatingIncome
Total non-interest income 11,462us-gaap_NoninterestIncome 9,273us-gaap_NoninterestIncome
Non-interest expense    
Salaries and employee benefits 13,977us-gaap_LaborAndRelatedExpense 13,573us-gaap_LaborAndRelatedExpense
Net occupancy 2,182us-gaap_OccupancyNet 2,139us-gaap_OccupancyNet
Equipment 2,732us-gaap_EquipmentExpense 2,508us-gaap_EquipmentExpense
Intangibles amortization 420us-gaap_AmortizationOfIntangibleAssets 432us-gaap_AmortizationOfIntangibleAssets
Telecommunications 438us-gaap_CommunicationsAndInformationTechnology 444us-gaap_CommunicationsAndInformationTechnology
Stationery printing and supplies 306us-gaap_SuppliesExpense 287us-gaap_SuppliesExpense
FDIC assessment 375us-gaap_FederalDepositInsuranceCorporationPremiumExpense 435us-gaap_FederalDepositInsuranceCorporationPremiumExpense
Marketing 562us-gaap_MarketingExpense 598us-gaap_MarketingExpense
Collection expense 256msfg_CollectionExpense 437msfg_CollectionExpense
Prepayment penalty on FHLB advance 2,364us-gaap_FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresRepaymentAndPenalties  
Consultant expense 250msfg_ConsultantExpense 350msfg_ConsultantExpense
Interchange expense 575msfg_BankCardInterchangeExpense 521msfg_BankCardInterchangeExpense
Other expenses 2,590us-gaap_OtherNoninterestExpense 2,490us-gaap_OtherNoninterestExpense
Total non-interest expense 27,027us-gaap_NoninterestExpense 24,214us-gaap_NoninterestExpense
Income before income tax 9,418us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 7,530us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax expense (includes $86 income tax expense from reclassification items in 2015) 1,755us-gaap_IncomeTaxExpenseBenefit 1,305us-gaap_IncomeTaxExpenseBenefit
Net income 7,663us-gaap_NetIncomeLoss 6,225us-gaap_NetIncomeLoss
Net income attributable to common shareholders $ 7,663us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic $ 6,225us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Cash dividends declared per common share (in dollars per share) $ 0.13us-gaap_CommonStockDividendsPerShareDeclared $ 0.10us-gaap_CommonStockDividendsPerShareDeclared
Net income per common share - basic and diluted (in dollars per share) $ 0.35us-gaap_EarningsPerShareBasicAndDiluted $ 0.30us-gaap_EarningsPerShareBasicAndDiluted