Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
INTEREST INCOME      
Loans, including Fees $ 84,117 $ 75,717 $ 72,867
Investment Securities:      
Taxable 12,081 8,095 6,317
Tax Exempt 787 1,052 866
Funds Sold 2,410 2,066 1,104
Total Interest Income 99,395 86,930 81,154
INTEREST EXPENSE      
Deposits 4,243 1,789 879
Short-Term Borrowings 110 82 148
Subordinated Notes Payable 2,167 1,634 1,434
Other Long-Term Borrowings 371 443 728
Total Interest Expense 6,891 3,948 3,189
NET INTEREST INCOME 92,504 82,982 77,965
Provision for Loan Losses 2,921 2,215 819
Net Interest Income After Provision for Loan Losses 89,583 80,767 77,146
NONINTEREST INCOME      
Other 6,648 6,182 8,907
Total Noninterest Income 51,565 51,746 53,681
NONINTEREST EXPENSE      
Compensation 63,921 62,312 62,733
Occupancy, Net 18,503 17,837 18,296
Other Real Estate Owned, Net (442) 1,135 3,649
Other 29,521 28,163 28,536
Total Noninterest Expense 111,503 109,447 113,214
INCOME BEFORE INCOME TAXES 29,645 23,066 17,613
Income Tax Expense 3,421 12,203 5,867
NET INCOME $ 26,224 $ 10,863 $ 11,746
BASIC NET INCOME PER SHARE (in dollars per share) $ 1.54 $ 0.64 $ 0.69
DILUTED NET INCOME PER SHARE (in dollars per share) $ 1.54 $ 0.64 $ 0.69
Average Basic Common Shares Outstanding (in shares) 17,029 16,952 16,989
Average Diluted Common Shares Outstanding (in shares) 17,072 17,013 17,061
Deposit fees [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions $ 20,093 $ 20,335 $ 21,332
Bank card fees [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions 11,378 11,191 11,221
Wealth managment fees [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions 8,711 8,284 7,029
Mortgage fees [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions $ 4,735 $ 5,754 $ 5,192