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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Interest Income      
Loans, including fees $ 85,830 $ 81,159 $ 68,799
Investment securities - Taxable 5,576 4,670 4,773
Investment securities -Exempt from federal income taxes 798 1,234 1,356
Other 1,096 639 709
Total interest income 93,300 87,702 75,637
Interest Expense      
Deposits 13,334 6,991 3,520
Short-term borrowings 1,805 1,896 942
Long-term debt 3,610 3,591 3,505
Total interest expense 18,749 12,478 7,967
Net interest income 74,551 75,224 67,670
Provision for loan losses 7,312 8,610 3,280
Net interest income after provision for loan losses 67,239 66,614 64,390
Noninterest Income      
Retirement and benefit services 63,811 63,316 62,390
Wealth management 15,502 14,900 13,953
Mortgage banking 25,805 17,630 19,748
Service charges on deposit accounts 1,772 1,808 1,854
Net gains (losses) on investment securities 357 85 (13)
Other 6,947 5,010 5,113
Total noninterest income 114,194 102,749 103,045
Noninterest Expense      
Compensation 74,018 69,403 67,576
Employee taxes and benefits 19,456 17,866 16,490
Occupancy and equipment expense 10,751 11,086 10,892
Business services, software and technology expense 16,381 14,525 12,976
Intangible amortization expense 4,081 4,638 5,623
Professional fees and assessments 4,011 5,098 6,158
Marketing and business development 3,162 3,459 3,271
Supplies and postage 2,722 2,737 2,609
Travel 1,787 1,738 1,530
Mortgage and lending expenses 2,853 2,153 2,235
Other 3,315 3,622 5,560
Total noninterest expense 142,537 136,325 134,920
Income before income taxes 38,896 33,038 32,515
Income tax expense 9,356 7,172 17,514
Net income $ 29,540 $ 25,866 $ 15,001
Basic earnings per common share $ 1.96 $ 1.88 $ 1.10
Diluted earnings per common share 1.91 1.84 1.07
Dividends declared per common share $ 0.57 $ 0.53 $ 0.48
Average common shares outstanding 14,736 13,763 13,653
Diluted average common shares outstanding 15,093 14,063 14,007