Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands |
12 Months Ended |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
| Interest Income |
|
|
|
| Interest and fees on loans |
$ 47,534
|
$ 47,907
|
$ 49,921
|
| Interest on investment securities: |
|
|
|
| Taxable |
8,969
|
10,468
|
11,737
|
| Nontaxable |
2,450
|
2,669
|
2,551
|
| Interest on deposits in other banks |
372
|
182
|
138
|
| Interest on federal funds sold, securities purchased under agreements to resell, and money market mutual funds |
46
|
10
|
5
|
| Total interest income |
59,371
|
61,236
|
64,352
|
| Interest Expense |
|
|
|
| Interest on deposits |
2,355
|
2,961
|
4,253
|
| Interest on federal funds purchased and short-term securities sold under agreements to repurchase |
99
|
50
|
54
|
| Interest on securities sold under agreements to repurchase and other long-term borrowings |
3,578
|
4,764
|
5,002
|
| Interest on subordinated notes payable to unconsolidated trusts |
723
|
866
|
844
|
| Total interest expense |
6,755
|
8,641
|
10,153
|
| Net interest income |
52,616
|
52,595
|
54,199
|
| Provision for loan losses |
(644)
|
(3,429)
|
(4,364)
|
| Net interest income after provision for loan losses |
53,260
|
56,024
|
58,563
|
| Noninterest Income |
|
|
|
| Service charges and fees on deposits |
7,856
|
7,590
|
7,801
|
| Allotment processing fees |
3,232
|
4,321
|
5,014
|
| Other service charges, commissions, and fees |
5,558
|
5,545
|
5,248
|
| Trust income |
2,664
|
2,373
|
2,568
|
| Investment securities gains (losses), net |
3,998
|
171
|
(63)
|
| Gains on sale of mortgage loans, net |
942
|
824
|
490
|
| Income from company-owned life insurance |
1,016
|
937
|
1,231
|
| Gain on debt extinguishment |
4,050
|
|
|
| Legal settlement |
1,450
|
|
|
| Other |
420
|
450
|
984
|
| Total noninterest income |
31,186
|
22,211
|
23,273
|
| Noninterest Expense |
|
|
|
| Salaries and employee benefits |
32,296
|
32,008
|
29,763
|
| Occupancy expenses, net |
4,742
|
4,776
|
4,881
|
| Equipment expenses |
2,785
|
2,602
|
2,498
|
| Data processing and communications expenses |
4,648
|
4,300
|
4,031
|
| Bank franchise tax |
2,421
|
2,426
|
2,421
|
| Amortization of intangibles |
0
|
449
|
405
|
| Deposit insurance expense |
841
|
1,536
|
1,746
|
| Other real estate expenses, net |
2,189
|
1,708
|
5,318
|
| Legal expenses |
474
|
843
|
856
|
| Loss on debt extinguishment |
3,776
|
|
|
| Other |
7,228
|
7,302
|
7,359
|
| Total noninterest expense |
61,400
|
57,950
|
59,278
|
| Income before income taxes |
23,046
|
20,285
|
22,558
|
| Income tax expense |
6,441
|
5,293
|
6,099
|
| Net income |
16,605
|
14,992
|
16,459
|
| Less preferred stock dividends and discount accretion |
|
395
|
1,927
|
| Net income available to common shareholders |
$ 16,605
|
$ 14,597
|
$ 14,532
|
| Per Common Share |
|
|
|
| Net income – basic and diluted (in dollars per share) |
$ 2.21
|
$ 1.95
|
$ 1.94
|
| Cash dividends declared - common, per share (in dollars per share) |
$ 0.31
|
|
|
| Weighted Average Common Shares Outstanding |
|
|
|
| Basic and diluted (in shares) |
7,504
|
7,494
|
7,483
|