CONSOLIDATED STATEMENTS OF INCOME - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
| Interest income | |||
| Loans, including fees | $ 101,560,000 | $ 87,002,000 | $ 78,770,000 |
| Securities | |||
| Taxable | 14,550,000 | 12,004,000 | 12,366,000 |
| Tax exempt | 12,000,000 | 11,970,000 | 11,862,000 |
| Other interest income | 217,000 | 134,000 | 97,000 |
| Total interest income | 128,327,000 | 111,110,000 | 103,095,000 |
| Interest expense | |||
| Deposits | 4,169,000 | 3,678,000 | 3,678,000 |
| Federal Home Loan Bank advances | 4,418,000 | 3,387,000 | 3,572,000 |
| Subordinated debentures | 1,425,000 | 1,264,000 | 1,286,000 |
| Other borrowings | 714,000 | 56,000 | 71,000 |
| Total interest expense | 10,726,000 | 8,385,000 | 8,607,000 |
| Net interest income | 117,601,000 | 102,725,000 | 94,488,000 |
| Provision for loan losses | 1,705,000 | 1,625,000 | 1,500,000 |
| Net interest income after provision for loan losses | 115,896,000 | 101,100,000 | 92,988,000 |
| Non-interest income | |||
| Service charges on deposit accounts | 21,006,000 | 22,039,000 | 20,698,000 |
| Interchange income | 11,116,000 | 9,239,000 | 7,590,000 |
| Mortgage banking | 10,044,000 | 8,355,000 | 6,754,000 |
| Trust and investment product fees | 4,866,000 | 4,947,000 | 4,712,000 |
| Increase in cash surrender value of life insurance | 1,513,000 | 1,236,000 | 1,298,000 |
| Net realized gains on securities (includes $170, $386, $24 accumulated other comprehensive income (AOCI) reclassifications for realized net gains on available for sale securities | 170,000 | 386,000 | 24,000 |
| Gain/(Loss) on sale and write-down of OREO | 268,000 | 68,000 | (153,000) |
| Other income | 3,629,000 | 4,002,000 | 2,084,000 |
| Total non-interest income | 52,612,000 | 50,272,000 | 43,007,000 |
| Non-interest expense | |||
| Salaries and employee benefits | 64,327,000 | 57,741,000 | 54,132,000 |
| Net occupancy | 9,298,000 | 8,326,000 | 7,628,000 |
| Equipment | 12,696,000 | 11,360,000 | 10,337,000 |
| Intangibles amortization | 1,342,000 | 1,640,000 | 1,690,000 |
| Telecommunications | 1,647,000 | 1,775,000 | 1,747,000 |
| Stationery printing and supplies | 1,052,000 | 1,162,000 | 1,174,000 |
| FDIC assessment | 1,560,000 | 1,655,000 | 1,620,000 |
| Marketing | 3,390,000 | 3,193,000 | 3,187,000 |
| Collection expense | 910,000 | 1,173,000 | 1,330,000 |
| Prepayment penalty on FHLB advance | 2,364,000 | ||
| Acquisition related expenses | 7,130,000 | 731,000 | 3,119,000 |
| Consultant expense | 549,000 | 1,106,000 | 1,400,000 |
| Interchange expense | 3,376,000 | 2,619,000 | 2,287,000 |
| Other expenses | 10,771,000 | 10,752,000 | 9,569,000 |
| Total non-interest expense | 118,048,000 | 105,597,000 | 99,220,000 |
| Income before income tax | 50,460,000 | 45,775,000 | 36,775,000 |
| Income tax expense (includes $60, $135, and $8 income tax expense from AOCI reclassification items) | 12,137,000 | 10,233,000 | $ 7,779,000 |
| Redemption of preferred stock | $ 0 | ||
| Net income attributable to common shareholders | $ 35,542,000 | ||
| Net income per common share: | |||
| Basic | $ 1.66 | $ 1.64 | $ 1.40 |
| Diluted | 1.64 | 1.62 | 1.39 |
| Dividend per share | $ 0.61 | $ 0.54 | $ 0.42 |