CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands |
3 Months Ended |
9 Months Ended |
Sep. 30, 2016 |
Sep. 30, 2015 |
Sep. 30, 2016 |
Sep. 30, 2015 |
| Interest income |
|
|
|
|
| Interest and fees on loans |
$ 21,952
|
$ 22,259
|
$ 65,762
|
$ 65,999
|
| Interest on securities - taxable |
738
|
1,062
|
2,729
|
3,167
|
| Interest on securities - tax-exempt |
905
|
994
|
2,762
|
3,013
|
| Interest on deposits in banks |
26
|
33
|
55
|
246
|
| Total interest income |
23,621
|
24,348
|
71,308
|
72,425
|
| Interest expense |
|
|
|
|
| Interest on deposits |
1,133
|
1,384
|
3,334
|
4,676
|
| Interest on short-term borrowings |
548
|
497
|
1,613
|
1,486
|
| Interest on long-term debt |
819
|
798
|
2,438
|
2,685
|
| Total interest expense |
2,500
|
2,679
|
7,385
|
8,847
|
| Net interest income |
21,121
|
21,669
|
63,923
|
63,578
|
| (Recovery of) provision for loan losses |
(1,154)
|
381
|
755
|
1,757
|
| Net interest income after (recovery of) provision for loan losses |
22,275
|
21,288
|
63,168
|
61,821
|
| Noninterest income |
|
|
|
|
| Wealth management |
653
|
790
|
2,147
|
2,231
|
| Service charges on deposits |
3,494
|
3,744
|
10,146
|
10,154
|
| Other service charges and fees |
2,024
|
1,974
|
6,088
|
5,987
|
| Insurance commissions |
1,592
|
1,650
|
5,383
|
5,336
|
| Impairment losses on securities |
(4,635)
|
|
(4,646)
|
|
| Portion of loss recognized in other comprehensive income |
0
|
0
|
0
|
0
|
| Net impairment losses recognized in earnings |
(4,635)
|
|
(4,646)
|
|
| Net gain (loss) on sale of securities |
25
|
(39)
|
(53)
|
151
|
| Net FDIC indemnification asset amortization |
(1,369)
|
(1,768)
|
(3,856)
|
(5,179)
|
| Net gain on divestitures |
3,065
|
|
3,065
|
|
| Other operating income |
1,046
|
723
|
2,554
|
3,367
|
| Total noninterest income |
5,895
|
7,074
|
20,828
|
22,047
|
| Noninterest expense |
|
|
|
|
| Salaries and employee benefits |
9,828
|
9,971
|
30,501
|
29,357
|
| Occupancy expense |
1,249
|
1,443
|
4,139
|
4,404
|
| Furniture and equipment expense |
1,066
|
1,259
|
3,271
|
3,854
|
| Amortization of intangibles |
316
|
281
|
871
|
837
|
| FDIC premiums and assessments |
363
|
377
|
1,109
|
1,181
|
| FHLB debt prepayment fees |
|
|
|
1,702
|
| Merger, acquisition, and divestiture expense |
226
|
|
675
|
86
|
| Other operating expense |
5,509
|
5,688
|
15,527
|
15,667
|
| Total noninterest expense |
18,557
|
19,019
|
56,093
|
57,088
|
| Income before income taxes |
9,613
|
9,343
|
27,903
|
26,780
|
| Income tax expense |
3,230
|
3,084
|
9,181
|
8,388
|
| Net income |
6,383
|
6,259
|
18,722
|
18,392
|
| Dividends on preferred stock |
|
|
|
105
|
| Net income available to common shareholders |
$ 6,383
|
$ 6,259
|
$ 18,722
|
$ 18,287
|
| Earnings per common share |
|
|
|
|
| Basic |
$ 0.37
|
$ 0.34
|
$ 1.07
|
$ 0.98
|
| Diluted |
0.37
|
0.34
|
1.07
|
0.97
|
| Cash dividends per common share |
$ 0.16
|
$ 0.14
|
$ 0.44
|
$ 0.40
|
| Weighted average shares outstanding |
|
|
|
|
| Basic |
17,031,074
|
18,470,348
|
17,433,406
|
18,644,679
|
| Diluted |
17,083,526
|
18,500,975
|
17,475,211
|
18,895,909
|