|
Consolidated Statements of Income (USD $) In Thousands, except Per Share data, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
| Interest income |
|
|
|
| Loans, including fees |
$ 41,233 |
$ 43,396 |
$ 45,463 |
| AFS securities |
|
|
|
| Taxable |
7,228 |
7,555 |
6,941 |
| Nontaxable |
5,132 |
4,870 |
4,806 |
| Trading securities |
36 |
94 |
189 |
| Federal funds sold and other |
447 |
486 |
506 |
| Total interest income |
54,076 |
56,401 |
57,905 |
| Interest expense |
|
|
|
| Deposits |
7,140 |
9,131 |
10,935 |
| Borrowings |
3,881 |
4,292 |
5,268 |
| Total interest expense |
11,021 |
13,423 |
16,203 |
| Net interest income |
43,055 |
42,978 |
41,702 |
| Provision for loan losses |
1,111 |
2,300 |
3,826 |
| Net interest income after provision for loan losses |
41,944 |
40,678 |
37,876 |
| Noninterest income |
|
|
|
| Service charges and fees |
6,836 |
6,432 |
6,118 |
| Net gain on sale of mortgage loans |
962 |
1,576 |
538 |
| Earnings on corporate owned life insurance policies |
732 |
698 |
609 |
| Net gain (loss) on sale of AFS securities |
171 |
1,119 |
3 |
| Other |
1,474 |
1,705 |
950 |
| Total noninterest income |
10,175 |
11,530 |
8,218 |
| Noninterest expenses |
|
|
|
| Compensation and benefits |
21,465 |
21,227 |
19,292 |
| Furniture and equipment |
4,945 |
4,560 |
4,497 |
| Occupancy |
2,653 |
2,519 |
2,470 |
| AFS securities impairment loss |
|
|
|
| Total OTTI impairment loss |
0 |
486 |
0 |
| Portion of loss reported in other comprehensive income |
0 |
(204) |
0 |
| Net AFS securities impairment loss |
0 |
282 |
0 |
| Other |
8,350 |
9,051 |
8,271 |
| Total noninterest expenses |
37,413 |
37,639 |
34,530 |
| Income before federal income tax expense |
14,706 |
14,569 |
11,564 |
| Federal income tax expense |
2,196 |
2,363 |
1,354 |
| NET INCOME |
$ 12,510 |
$ 12,206 |
$ 10,210 |
| Earnings per share |
|
|
|
| Basic |
$ 1.63 |
$ 1.61 |
$ 1.35 |
| Diluted |
$ 1.59 |
$ 1.56 |
$ 1.31 |
| Cash dividends per basic share |
$ 0.84 |
$ 0.80 |
$ 0.76 |