XML 67 R4.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income:        
Interest and fees on loans $ 37,904 $ 33,750 $ 112,177 $ 94,851
Interest and dividends on investment securities 4,449 5,283 14,147 16,449
Other interest income 106 84 297 307
Total interest income 42,459 39,117 126,621 111,607
Interest expense:        
Deposits 7,277 5,163 21,454 12,872
Short-term borrowings 2,081 2,434 6,575 6,047
Long-term borrowings 618 617 1,853 1,853
Total interest expense 9,976 8,214 29,882 20,772
Net interest income 32,483 30,903 96,739 90,835
Provision for loan losses 1,844 2,061 5,391 5,050
Net interest income after provision for loan losses 30,639 28,842 91,348 85,785
Noninterest income:        
Service charges on deposits 1,925 1,813 5,361 5,254
Insurance income 1,439 1,501 3,689 3,918
ATM and debit card 1,801 1,557 4,983 4,509
Investment advisory 2,269 2,245 6,812 5,934
Company owned life insurance 459 440 1,293 1,333
Investments in limited partnerships 116 328 492 1,019
Loan servicing 102 96 316 319
Income from derivative instruments, net 890 336 1,013 683
Net gain on sale of loans held for sale 439 303 1,028 530
Net gain (loss) on investment securities 1,608 (95) 1,721 (88)
Net gain (loss) on other assets (2) 37 56 49
Other 1,315 1,255 3,950 3,670
Total noninterest income 12,361 9,816 30,714 27,130
Noninterest expense:        
Salaries and employee benefits 14,411 13,970 41,661 40,270
Occupancy and equipment 4,650 4,337 13,562 12,911
Professional services 1,528 1,353 3,618 3,132
Computer and data processing 1,378 1,291 3,951 3,884
Supplies and postage 522 485 1,554 1,545
FDIC assessments 7 498 1,005 1,486
Advertising and promotions 745 949 2,351 2,647
Amortization of intangibles 309 334 948 927
Other 2,336 2,304 7,410 6,271
Total noninterest expense 25,886 25,521 76,060 73,073
Income before income taxes 17,114 13,137 46,002 39,842
Income tax expense 4,281 2,560 10,247 7,807
Net income 12,833 10,577 35,755 32,035
Preferred stock dividends 365 365 1,096 1,096
Net income available to common shareholders $ 12,468 $ 10,212 $ 34,659 $ 30,939
Earnings per common share (Note 3):        
Basic $ 0.78 $ 0.64 $ 2.17 $ 1.95
Diluted 0.78 0.64 2.16 1.94
Cash dividends declared per common share $ 0.25 $ 0.24 $ 0.75 $ 0.72