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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Interest and dividend income      
Interest and fees on loans (includes tax-exempt income of $1,302,000 in 2019, $1,157,000 in 2018, and $798,000 in 2017) $ 59,239 $ 53,548 $ 45,373
Interest on deposits with other banks 188 242 52
Interest and dividends on investments (includes tax-exempt income of $7,333,000 in 2019, $6,954,000 in 2018, and $6,501,000 in 2017) 19,224 16,753 15,407
Total interest and dividend income 78,651 70,543 60,832
Interest expense      
Interest on deposits 23,268 15,970 9,479
Interest on borrowed funds 2,890 4,364 4,050
Total interest expense 26,158 20,334 13,529
Net interest income 52,493 50,209 47,303
Provision for loan losses 1,250 1,500 2,000
Net interest income after provision for loan losses 51,243 48,709 45,303
Non-interest income      
Net securities gains 224 137 471
Other operating income 6,408 5,674 5,463
Total non-interest income 14,189 12,600 12,548
Non-interest expense      
Salaries and employee benefits 18,396 17,641 16,601
Occupancy expense 2,558 2,435 2,400
Furniture and equipment expense 3,990 3,924 3,681
FDIC insurance premiums 439 1,226 1,008
Amortization of identified intangibles 43 43 43
Other operating expense 9,746 8,198 7,918
Total non-interest expense 35,172 33,467 31,651
Income before income taxes 30,260 27,842 26,200
Applicable tax expense 4,735 4,306 6,612
Net income $ 25,525 $ 23,536 $ 19,588
Basic earnings per common share (in usd per share) $ 2.36 $ 2.18 $ 1.82
Diluted earnings per common share (in usd per share) $ 2.34 $ 2.17 $ 1.81
Other comprehensive income (loss), net of tax      
Net unrealized gain (loss) on securities available for sale $ 8,708 $ (2,150) $ (1,452)
Net unrealized gain (loss) on securities transferred from available for sale to held to maturity, net of amortization 15 (23) (14)
Net unrealized gain (loss) on cash flow hedging derivative instruments (1,341) (106) 107
Net unrecognized gain (loss) on postretirement benefits (13) 184 (19)
Other comprehensive gain (loss) 7,369 (2,095) (1,378)
Comprehensive income 32,894 21,441 18,210
Fiduciary and investment management income      
Non-interest income      
Non-interest income 3,318 3,030 2,680
Service charges on deposit accounts      
Non-interest income      
Non-interest income 2,330 2,194 2,081
Mortgage origination and servicing income      
Non-interest income      
Non-interest income $ 1,909 $ 1,565 $ 1,853