|
Consolidated Statements Of Income (USD $)
|
12 Months Ended |
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
| INTEREST AND DIVIDEND INCOME |
|
|
|
| Interest and fees on loans |
$ 43,987,000 |
$ 44,977,000 |
$ 45,271,000 |
| Investment income: |
|
|
|
| Interest and dividends on investment securities |
9,912,000 |
11,834,000 |
12,644,000 |
| Interest on interest earning deposits with banks and other short-term investments |
68,000 |
46,000 |
103,000 |
| Total interest and dividend income |
53,967,000 |
56,857,000 |
58,018,000 |
| INTEREST EXPENSE |
|
|
|
| Savings, interest bearing checking and money market accounts |
1,184,000 |
776,000 |
1,167,000 |
| Time deposits $100 thousand and greater |
785,000 |
1,025,000 |
1,135,000 |
| Other time deposits |
1,381,000 |
1,750,000 |
2,172,000 |
| Securities sold under agreement to repurchase and other short-term debt |
914,000 |
1,790,000 |
2,065,000 |
| Long-term debt |
806,000 |
1,542,000 |
2,105,000 |
| Total interest expense |
5,070,000 |
6,883,000 |
8,644,000 |
| Net interest income |
48,897,000 |
49,974,000 |
49,374,000 |
| Provision for credit losses |
800,000 |
950,000 |
750,000 |
| Net interest income after provision for credit losses |
48,097,000 |
49,024,000 |
48,624,000 |
| NONINTEREST INCOME |
|
|
|
| Changes in fair value on other than temporary impaired securities |
(166,000) |
0 |
(65,000) |
| Non-credit related (gain) losses on securities not expected to be sold (recognized in other comprehensive income) |
0 |
0 |
10,000 |
| Net impairment losses |
(166,000) |
0 |
(55,000) |
| Net (losses) gains on investment securities |
(12,000) |
507,000 |
1,049,000 |
| Trust division income |
3,062,000 |
2,685,000 |
2,516,000 |
| Service charges on deposits |
3,989,000 |
4,078,000 |
4,298,000 |
| Net debit card income |
2,875,000 |
2,854,000 |
2,701,000 |
| Gain on sale of other assets |
794,000 |
1,083,000 |
0 |
| Other |
1,088,000 |
1,406,000 |
1,340,000 |
| Total noninterest income |
11,630,000 |
12,613,000 |
11,849,000 |
| NONINTEREST EXPENSE |
|
|
|
| Compensation and benefits |
19,165,000 |
19,582,000 |
20,517,000 |
| Occupancy expense |
4,165,000 |
3,826,000 |
3,824,000 |
| Equipment expense |
3,892,000 |
3,626,000 |
3,366,000 |
| Legal and professional fees |
2,755,000 |
2,545,000 |
2,811,000 |
| Marketing |
1,756,000 |
1,841,000 |
1,733,000 |
| Equity in losses of real estate limited partnerships |
1,039,000 |
1,516,000 |
1,766,000 |
| State franchise taxes |
1,439,000 |
1,295,000 |
1,265,000 |
| FDIC Insurance |
872,000 |
866,000 |
936,000 |
| Prepayment penalty on long-term debt |
0 |
1,363,000 |
861,000 |
| Other Real Estate Owned ("OREO") expenses |
121,000 |
197,000 |
193,000 |
| Other |
5,414,000 |
5,809,000 |
5,457,000 |
| Total noninterest expense |
40,618,000 |
42,466,000 |
42,729,000 |
| Income before provision for income taxes |
19,109,000 |
19,171,000 |
17,744,000 |
| Provision for income taxes |
3,978,000 |
3,977,000 |
3,124,000 |
| NET INCOME |
$ 15,131,000 |
$ 15,194,000 |
$ 14,620,000 |
| Basic earnings per common share |
$ 2.40 |
$ 2.43 |
$ 2.35 |
| Diluted earnings per common share |
$ 2.40 |
$ 2.42 |
$ 2.35 |