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 Income Statement

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 2011 Y2012 Y2013 Y2014 Y
Source Document12/31/201312/31/201412/31/201412/31/2014
(in thousands)    
Interest Income 
Loans 78,64872,62168,07768,682
Investment securities 
Taxable 4,5714,2412,6953,507
Tax-exempt 2,5152,8822,9013,068
Interest-bearing deposits 466300282349
FHLB stock dividends 867899826642
Total interest income 87,06780,94374,78176,248
Interest Expense 
Deposits 12,1758,1695,9135,283
Federal Home Loan Bank advances and other 3,2032,424434528
Subordinated debentures 1,278971601587
Securities sold under agreement to repurchase 530373222161
Total interest expense 17,18611,9377,1706,559
Net interest income 69,88169,00667,61169,689
Provision for loan losses 12,43410,9241,8241,117
Net interest income after provision for loan losses 57,44758,08265,78768,572
Noninterest Income 
Service fees and other charges 11,38710,77910,04510,258
Mortgage banking income 6,4379,6658,4435,602
Insurance commissions 7,1098,6769,6279,859
Gain on sale of non-mortgage loans 36170101181
Gain (loss) on sale or call of securities 2182,13997932
Other-than-temporary impairment (OTTI) losses on investment securities 
Total gains (impairment losses) on investment securities (44)(31)(337)0
Losses recognized in other comprehensive income 422600
Net impairment loss recognized in earnings (2)(5)(337)0
Trust income 5996169691,240
Income from bank owned life insurance 9299248831,802
Other noninterest income 4781,5109501,767
Total noninterest income 27,51634,37430,77831,641
Noninterest Expense 
Compensation and benefits 31,55432,56634,30135,543
Occupancy 7,1667,5786,6756,683
FDIC insurance 2,9222,6911,6161,419
Data processing 4,2574,6605,1255,856
Acquisition related charges 234NANANA
Other noninterest expense 16,63118,28517,33517,257
Total noninterest expense 62,76465,78065,05266,758
Income before income taxes 22,19926,67631,51333,455
Federal income taxes 6,6658,0129,2789,163
Net Income 15,53418,66422,23524,292
Dividends Accrued on Preferred Shares (1,850)(900)00
Accretion on Preferred Shares (178)(359)00
Redemption of Preferred Shares 064200
Net Income Applicable to Common Shares 13,50618,04722,23524,292
Earnings per common share 
Basic 1.441.862.282.55
Diluted 1.421.812.192.44
Dividends declared per common share
Consolidated Statements of Comprehensive Income 
Net income 15,53418,66422,23524,292
Change in securities available-for-sale (AFS) 
Unrealized holding gains (losses) on available-for-sale securities arising during the period 7,4042,360(6,309)6,763
Reclassification adjustment for (gains) losses realized in income (218)(2,139)(97)(932)
Other-than-temporary impairment losses on AFS securities realized in income 253370
Net unrealized gains (losses) 7,188226(6,069)5,831
Income tax effect (2,516)(79)2,124(2,040)
Net of tax amount 4,672147(3,945)3,791
Change in unrealized gain on postretirement benefit 
Net gain (loss) on defined benefit postretirement medical plan realized during the period (537)148287(377)
Net amortization and deferral 25514635
Net gain (loss) activity during the period (512)199333(342)
Income tax effect 179(69)(117)120
Net of tax amount (333)130216(222)
Total other comprehensive income (loss) 4,339277(3,729)3,569
Comprehensive income 19,87318,94118,50627,861

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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