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 Income Statement

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 2011 Y2012 Y2013 Y2014 Y2015 Q3 YTD
Source Document12/31/201312/31/201412/31/201412/31/20149/30/2015
(in thousands)     
Interest Income 
Loans 78,64872,62168,07768,68254,445
Investment securities 
Taxable 4,5714,2412,6953,5072,712
Non-taxable 2,5152,8822,9013,0682,377
Interest-bearing deposits 466300282349113
FHLB stock dividends 867899826642413
Total interest income 87,06780,94374,78176,24860,060
Interest Expense 
Deposits 12,1758,1695,9135,2833,947
FHLB advances and other 3,2032,424434528461
Subordinated debentures 1,278971601587451
Notes payable 530373222161113
Total interest expense 17,18611,9377,1706,5594,972
Net interest income 69,88169,00667,61169,68955,088
Provision for loan losses 12,43410,9241,8241,11793
Net interest income after provision for loan losses 57,44758,08265,78768,57254,995
Non-interest Income 
Service fees and other charges 11,38710,77910,04510,2588,018
Insurance commissions 7,1098,6769,6279,8597,793
Mortgage banking income 6,4379,6658,4435,6025,248
Gain on sale of non-mortgage loans 36170101181776
Gain on sale or call of securities 2182,139979320
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 5996169691,2401,095
Income from Bank Owned Life Insurance 9299248831,802658
Other non-interest income 4781,5109501,767485
Total non-interest income 27,51634,37430,77831,64124,073
Non-interest Expense 
Compensation and benefits 31,55432,56634,30135,54327,896
Occupancy 7,1667,5786,6756,6835,361
FDIC insurance premium 2,9222,6911,6161,419999
Financial institutions tax NANANANA1,340
Data processing 4,2574,6605,1255,8564,652
Acquisition related charges 234NANANANA
Amortization of intangibles NANANANA536
Other non-interest expense 16,63118,28517,33517,2579,758
Total non-interest expense 62,76465,78065,05266,75850,542
Income before income taxes 22,19926,67631,51333,45528,526
Federal income taxes 6,6658,0129,2789,1638,666
Net Income 15,53418,66422,23524,29219,860
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 1.441.862.282.552.15
Diluted 1.421.812.192.442.11
Dividends declared per share
Average common shares outstanding 
Basic NANANANA9,247
Diluted NANANANA9,430
Consolidated Condensed Statements of Comprehensive Income 
Net Income 15,53418,66422,23524,29219,860
Other comprehensive income (loss) 
Unrealized gains (losses) on securities available for sale 7,4042,360(6,309)6,763(313)
Reclassification adjustment for security gains (losses) included in net income (218)(2,139)(97)(932)0
Other-than-temporary impairment losses on AFS securities realized in income 253370NA
Net unrealized gains (losses) 7,188226(6,069)5,831NA
Income tax benefit (expense) (2,516)(79)2,124(2,040)108
Net of tax amount 4,672147(3,945)3,791NA
Other comprehensive income (loss) 4,339277(3,729)3,569(205)
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 19,87318,94118,50627,86119,655

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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