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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income:        
Loans $ 22,563 $ 20,612 $ 44,556 $ 41,027
Federal funds sold 111 51 300 119
Mortgage loans held for sale 59 74 119 113
Securities – taxable 2,123 1,969 4,278 4,003
Securities – tax-exempt 306 294 609 585
Total interest income 25,162 23,000 49,862 45,847
Interest expense:        
Deposits 979 938 1,975 1,911
Federal funds purchased and other short-term borrowing 23 5 38 12
Securities sold under agreements to repurchase 29 32 62 69
Federal Home Loan Bank advances 181 224 368 440
Total interest expense 1,212 1,199 2,443 2,432
Net interest income 23,950 21,801 47,419 43,415
Provision for loan losses 750 1,250
Net interest income after provision for loan losses 23,200 21,801 46,169 43,415
Non-interest income:        
Investment management and trust services 4,807 4,651 9,419 9,203
Service charges on deposit accounts 2,262 2,199 4,408 4,279
Bankcard transaction revenue 1,433 1,246 2,743 2,368
Mortgage banking revenue 1,030 913 1,824 1,741
Brokerage commissions and fees 538 499 981 960
Bank owned life insurance income 220 226 441 448
Other 488 485 1,044 893
Total non-interest income 10,778 10,219 20,860 19,892
Non-interest expenses:        
Salaries and employee benefits 11,971 11,383 24,166 22,483
Net occupancy expense 1,546 1,450 3,070 2,919
Data processing expense 1,881 1,756 3,425 3,210
Furniture and equipment expense 291 260 576 507
FDIC insurance expense 351 317 679 614
Amortization of investment in tax credit partnerships 1,016 159 2,031 317
Other 3,137 3,542 5,786 6,596
Total non-interest expenses 20,193 18,867 39,733 36,646
Income before income taxes 13,785 13,153 27,296 26,661
Income tax expense 3,676 4,151 7,352 8,404
Net income $ 10,109 $ 9,002 $ 19,944 $ 18,257
Net income per share:        
Basic (in dollars per share) $ 0.45 $ 0.41 $ 0.89 $ 0.83
Diluted (in dollars per share) $ 0.45 $ 0.40 $ 0.88 $ 0.82
Average common shares:        
Basic (in shares) 22,336 22,065 22,295 22,018
Diluted (in shares) 22,704 22,404 22,658 22,353