XML 75 R4.htm IDEA: XBRL DOCUMENT v3.2.0.727
Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest and fees on loans        
Taxable $ 12,854 $ 12,428 $ 25,588 $ 24,572
Tax-exempt 118 87 233 159
Interest and dividends on securities        
Taxable 1,092 1,199 2,368 2,481
Tax-exempt 593 628 1,211 1,198
Interest on interest bearing deposits with other banks 1 2 2 4
Total interest income 14,658 14,344 29,402 28,414
Interest expense        
Interest on deposits 2,074 2,335 4,145 4,576
Interest on short-term borrowings 126 59 238 112
Interest on long-term borrowings and subordinated debentures 1,000 1,630 2,041 3,368
Total interest expense 3,200 4,024 6,424 8,056
Net interest income 11,458 10,320 22,978 20,358
Provision for loan losses 500 1,000 750 2,000
Net interest income after provision for loan losses 10,958 9,320 22,228 18,358
Other income        
Insurance commissions 1,080 1,091 2,208 2,273
Service fees related to deposit accounts 1,072 1,101 2,048 2,144
Realized securities gains (losses) 170 (43) 650 (64)
Bank owned life insurance income 261 270 522 539
Other 277 287 571 598
Total other-than-temporary impairment loss on securities 0 (1) 0 (1)
Portion of loss recognized in other comprehensive income 0 0 0 0
Net impairment loss recognized in earnings 0 (1) 0 (1)
Total other income 2,860 2,705 5,999 5,489
Other expense        
Salaries, commissions, and employee benefits 4,442 4,045 8,629 8,026
Net occupancy expense 489 505 988 1,046
Equipment expense 560 513 1,095 1,079
Professional fees 372 282 707 598
Amortization of intangibles 50 63 100 150
FDIC premiums 320 495 650 997
Foreclosed properties expense 158 229 366 482
Loss on sale of foreclosed properties 103 54 253 129
Write-down of foreclosed properties 160 962 732 1,891
Other 1,407 1,382 2,746 2,630
Total other expense 8,061 8,530 16,266 17,028
Income before income taxes 5,757 3,495 11,961 6,819
Income tax expense 1,747 1,063 3,667 1,997
Net Income 4,010 2,432 8,294 4,822
Dividends on preferred shares 0 193 0 387
Net income (loss) applicable to common shares $ 4,010 $ 2,239 $ 8,294 $ 4,435
Basic earnings per common share $ 0.38 $ 0.30 $ 0.85 $ 0.59
Diluted earnings per common share $ 0.38 $ 0.25 $ 0.78 $ 0.50