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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income:        
Loans $ 25,401 $ 23,436 $ 73,812 $ 67,992
Federal funds sold and interest bearing deposits 388 95 798 395
Mortgage loans held for sale 48 66 145 185
Securities – taxable 2,003 2,047 6,173 6,325
Securities – tax-exempt 271 298 829 907
Total interest income 28,111 25,942 81,757 75,804
Interest expense:        
Deposits 1,593 941 4,237 2,916
Federal funds purchased and other short-term borrowing 77 19 125 57
Securities sold under agreements to repurchase 33 38 100 100
Federal Home Loan Bank advances 244 184 715 552
Total interest expense 1,947 1,182 5,177 3,625
Net interest income 26,164 24,760 76,580 72,179
Provision for loan losses 150 1,250 1,650 2,500
Net interest income after provision for loan losses 26,014 23,510 74,930 69,679
Non-interest income:        
Wealth management and trust services 5,025 4,800 15,272 14,219
Service charges on deposit accounts 2,522 2,544 7,368 6,952
Bankcard transactions 1,492 1,455 4,412 4,198
Mortgage banking 781 1,072 2,380 2,896
Gain on call of securities available for sale 31 31
Securities brokerage 551 558 1,584 1,539
Bank owned life insurance 204 216 964 657
Other 497 713 1,564 1,757
Total non-interest income 11,103 11,358 33,575 32,218
Non-interest expenses:        
Salaries and employee benefits 12,983 12,048 39,244 36,214
Net occupancy 1,621 1,646 4,765 4,716
Data processing 1,920 1,747 5,909 5,172
Furniture and equipment 316 277 861 853
FDIC insurance 242 356 716 1,035
Amortization of investments in tax credit partnerships 616 1,015 1,847 3,046
Other 3,619 3,429 10,469 9,215
Total non-interest expenses 21,317 20,518 63,811 60,251
Income before income taxes 15,800 14,350 44,694 41,646
Income tax expense 4,096 3,883 11,597 11,235
Net income $ 11,704 $ 10,467 $ 33,097 $ 30,411
Net income per share:        
Basic (in dollars per share) $ 0.52 $ 0.47 $ 1.47 $ 1.36
Diluted (in dollars per share) $ 0.51 $ 0.46 $ 1.44 $ 1.34
Average common shares:        
Basic (in shares) 22,542 22,385 22,524 22,325
Diluted (in shares) 22,964 22,803 22,984 22,711