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 Income Statement

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 2011 Y2012 Y2013 Y2014 Y2015 Q1 YTD
Source Document12/31/201312/31/201412/31/201412/31/20143/31/2015
Currency CodeUSDUSDUSDUSDUSD
(in thousands)     
      
Interest Income 
Loans 78,64872,62168,07768,68217,887
Investment securities 
Taxable 4,5714,2412,6953,507913
Non-taxable 2,5152,8822,9013,068779
Interest-bearing deposits 46630028234939
FHLB stock dividends 867899826642139
Total interest income 87,06780,94374,78176,24819,757
Interest Expense 
Deposits 12,1758,1695,9135,2831,272
FHLB advances and other 3,2032,424434528110
Subordinated debentures 1,278971601587147
Securities sold under repurchase agreements 53037322216138
Total interest expense 17,18611,9377,1706,5591,567
Net interest income 69,88169,00667,61169,68918,190
Provision for loan losses 12,43410,9241,8241,117120
Net interest income after provision for loan losses 57,44758,08265,78768,57218,070
Non-interest Income 
Service fees and other charges 11,38710,77910,04510,2582,529
Insurance commission income 7,1098,6769,6279,8593,139
Mortgage banking income 6,4379,6658,4435,6021,775
Gain on sale of non-mortgage loans 3617010118136
Gain (loss) on sale or call of securities 2182,13997932NA
Other-than-temporary impairment (OTTI) losses on investment securities 
Total gains (impairment losses) on investment securities (44)(31)(337)0NA
Losses recognized in other comprehensive income 422600NA
Net impairment loss recognized in earnings (2)(5)(337)0NA
Trust income 5996169691,240357
Income from Bank Owned Life Insurance 9299248831,802208
Other non-interest income 4781,5109501,767237
Total non-interest income 27,51634,37430,77831,6418,281
Non-interest Expense 
Compensation and benefits 31,55432,56634,30135,5438,922
Occupancy 7,1667,5786,6756,6831,764
FDIC insurance premium 2,9222,6911,6161,419351
Financial institutions tax NANANANA481
Data processing 4,2574,6605,1255,8561,523
Acquisition related charges 234NANANANA
Amortization of intangibles NANANANA217
Other non-interest expense 16,63118,28517,33517,2573,639
Total non-interest expense 62,76465,78065,05266,75816,897
Income before income taxes 22,19926,67631,51333,4559,454
Federal income taxes 6,6658,0129,2789,1632,853
Net Income 15,53418,66422,23524,2926,601
Dividends Accrued on Preferred Shares (1,850)(900)00NA
Accretion on Preferred Shares (178)(359)00NA
Redemption of Preferred Shares 064200NA
Net Income Applicable to Common Shares 13,50618,04722,23524,292NA
Earnings per common share 
Basic 1.441.862.282.550.71
Diluted 1.421.812.192.440.69
Dividends declared per share 0.050.20.40.630.18
Average common shares outstanding 
Basic NANANANA9,234
Diluted NANANANA9,611
Consolidated Statements of Comprehensive Income 
Net income 15,53418,66422,23524,2926,601
Other comprehensive income 
Unrealized gains on securities available for sale 7,4042,360(6,309)6,7631,502
Reclassification adjustment for (gains) losses realized in income (218)(2,139)(97)(932)NA
Other-than-temporary impairment losses on AFS securities realized in income 253370NA
Net unrealized gains (losses) 7,188226(6,069)5,831NA
Income tax expense (2,516)(79)2,124(2,040)(527)
Net of tax amount 4,672147(3,945)3,791NA
Other comprehensive income 4,339277(3,729)3,569975
Change in unrealized gain on postretirement benefit 
Net gain (loss) on defined benefit postretirement medical plan realized during the period (537)148287(377)NA
Net amortization and deferral 25514635NA
Net gain (loss) activity during the period (512)199333(342)NA
Income tax effect 179(69)(117)120NA
Net of tax amount (333)130216(222)NA
Comprehensive income 19,87318,94118,50627,8617,576


Data shown on this page is extracted directly from the company’s documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.

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