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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income        
Interest and fees on loans (includes tax-exempt income of $304,000 as of June 30, 2016 and $285,000 as of June 30, 2015) $ 10,004 $ 9,157 $ 19,738 $ 18,012
Interest on deposits with other banks 5 8 8 13
Interest and dividends on investments (includes tax-exempt income of $2,488,000 as of June 30, 2016 and $2,605,000 as of June 30, 2015) 3,591 3,409 7,130 6,914
Total interest income 13,600 12,574 26,876 24,939
Interest expense        
Interest on deposits 1,491 1,316 2,844 2,759
Interest on borrowed funds 1,158 1,180 2,352 2,400
Total interest expense 2,649 2,496 5,196 5,159
Net interest income 10,951 10,078 21,680 19,780
Provision for loan losses 375 400 750 900
Net interest income after provision for loan losses 10,576 9,678 20,930 18,880
Non-interest income        
Investment management and fiduciary income 651 617 1,214 1,158
Service charges on deposit accounts 609 658 1,183 1,237
Net securities gains (losses) (5) 0 531 1,395
Mortgage origination and servicing income, net of amortization 509 508 638 705
Other operating income 1,242 1,051 2,404 1,997
Total non-interest income 3,006 2,834 5,970 6,492
Non-interest expense        
Salaries and employee benefits 3,607 3,440 7,205 7,160
Occupancy expense 568 571 1,146 1,216
Furniture and equipment expense 801 782 1,597 1,552
FDIC insurance premiums 207 216 421 446
Amortization of identified intangibles 11 11 22 36
Other operating expense 2,051 1,960 4,054 3,835
Total non-interest expense 7,245 6,980 14,445 14,245
Income before income taxes 6,337 5,532 12,455 11,127
Income tax expense 1,713 1,458 3,328 2,878
NET INCOME $ 4,624 $ 4,074 $ 9,127 $ 8,249
Basic earnings per common share (usd per share) $ 0.43 $ 0.38 $ 0.85 $ 0.77
Diluted earnings per common share (usd per share) $ 0.43 $ 0.38 $ 0.84 $ 0.77
Other comprehensive income (loss) net of tax        
Net unrealized gain (loss) on securities available for sale $ 1,025 $ (1,591) $ 2,877 $ (1,534)
Net unrealized loss on securities transferred from available for sale to held to maturity, net of amortization (10) (17) (21) (36)
Net unrealized loss on cash flow hedging derivative instruments (135) 0 (135) 0
Other comprehensive income (loss) 880 (1,608) 2,721 (1,570)
Comprehensive income $ 5,504 $ 2,466 $ 11,848 $ 6,679