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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest income        
Loans, including fees $ 26,782 $ 22,040 $ 73,810 $ 64,858
Securities        
Taxable 4,009 3,010 10,488 8,780
Tax exempt 3,023 3,035 9,009 8,939
Other interest income 43 28 166 96
Total interest income 33,857 28,113 93,473 82,673
Interest expense        
Deposits 1,066 915 3,094 2,708
Federal Home Loan Bank advances 1,093 773 3,282 2,501
Subordinated debentures 355 318 1,051 942
Other borrowings 353 19 486 36
Total interest expense 2,867 2,025 7,913 6,187
Net interest income 30,990 26,088 85,560 76,486
Provision for loan losses 150 800 855 800
Net interest income after provision for loan losses 30,840 25,288 84,705 75,686
Non-interest income        
Service charges on deposit accounts 5,696 6,102 15,597 16,221
Interchange income 2,877 2,256 8,317 6,445
Mortgage banking 2,602 2,270 7,135 6,734
Trust and investment product fees 1,163 1,204 3,626 3,664
Increase in cash surrender value of life insurance 410 310 1,056 931
Net realized gains on securities (includes $17 and $252 accumulated other comprehensive income (AOCI) reclassifications for realized net gains on available for sale securities) 23 45 144 360
Gain/(Loss) on sale and write-down of OREO 67 (19) 253 (63)
Other income 1,076 1,176 3,113 3,312
Total non-interest income 13,914 13,344 39,241 37,604
Non-interest expense        
Salaries and employee benefits 16,686 14,674 47,430 43,185
Net occupancy 2,412 2,064 6,877 6,276
Equipment 3,315 2,823 9,493 8,381
Intangibles amortization 302 431 999 1,270
Telecommunications 459 410 1,256 1,290
Stationery printing and supplies 263 302 809 894
FDIC assessment 395 435 1,250 1,245
Marketing 780 948 2,523 2,413
Collection expense 174 263 596 769
Prepayment penalty on FHLB advance       2,364
Acquisition related expenses 601 617 6,964 617
Consultant expense 156 250 428 750
Interchange expense 830 696 2,558 1,986
Other expenses 2,568 2,722 8,012 7,942
Total non-interest expense 28,941 26,635 89,195 79,382
Income before income tax 15,813 11,997 34,751 33,908
Income tax expense (includes $6 and $86 income tax expense from AOCI reclassification items) 4,117 2,886 8,172 7,474
Net income attributable to common shareholders $ 11,696 $ 9,111 $ 26,579 $ 26,434
Net income per common share:        
Basic $ 0.49 $ 0.42 $ 1.17 $ 1.22
Diluted 0.48 0.42 1.15 1.21
Dividend per share $ 0.15 $ 0.14 $ 0.45 $ 0.40