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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income        
Loans, including fees $ 24,557 $ 21,422 $ 47,028 $ 42,818
Securities        
Taxable 3,232 2,830 6,479 5,770
Tax exempt 3,000 2,999 5,986 5,904
Other interest income 81 42 123 68
Total interest income 30,870 27,293 59,616 54,560
Interest expense        
Deposits 1,110 894 2,028 1,793
Federal Home Loan Bank advances 1,089 733 2,189 1,728
Subordinated debentures 353 315 696 624
Other borrowings 120 7 133 17
Total interest expense 2,672 1,949 5,046 4,162
Net interest income 28,198 25,344 54,570 50,398
Provision for loan losses 205   705  
Net interest income after provision for loan losses 27,993 25,344 53,865 50,398
Non-interest income        
Service charges on deposit accounts 5,219 5,498 9,901 10,119
Interchange income 2,805 2,228 5,440 4,189
Mortgage banking 2,743 2,609 4,533 4,464
Trust and investment product fees 1,253 1,254 2,463 2,460
Increase in cash surrender value of life insurance 344 308 646 621
Net realized gains on securities (includes $17 and $252 accumulated other comprehensive income (AOCI) reclassifications for realized net gains on available for sale securities) 104 63 121 315
Gain (Loss) on sale and write-down of OREO 37 (33) 186 (44)
Other income 1,233 942 2,037 2,136
Total non-interest income 13,738 12,869 25,327 24,260
Non-interest expense        
Salaries and employee benefits 15,884 14,534 30,744 28,511
Net occupancy 2,204 2,030 4,465 4,212
Equipment 3,115 2,826 6,178 5,558
Intangibles amortization 369 419 697 839
Telecommunications 428 442 797 880
Stationery printing and supplies 239 286 546 592
FDIC assessment 435 435 855 810
Marketing 1,089 903 1,743 1,465
Collection expense 170 250 422 506
Prepayment penalty on FHLB advance       2,364
Acquisition related expenses 6,363   6,363  
Consultant expense 136 250 272 500
Interchange expense 915 715 1,728 1,290
Other expenses 2,750 2,630 5,444 5,220
Total non-interest expense 34,097 25,720 60,254 52,747
Income before income tax 7,634 12,493 18,938 21,911
Income tax expense (includes $6 and $86 income tax expense from AOCI reclassification items) 1,517 2,833 4,055 4,588
Net income attributable to common shareholders $ 6,117 $ 9,660 $ 14,883 $ 17,323
Net income per common share:        
Basic $ 0.27 $ 0.45 $ 0.67 $ 0.80
Diluted 0.27 0.44 0.66 0.79
Dividend per share $ 0.15 $ 0.13 $ 0.30 $ 0.26