Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

v3.19.3
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
INTEREST INCOME        
Loans, including Fees $ 23,992 $ 21,618 $ 70,373 $ 61,686
Investment Securities:        
Taxable 3,249 3,290 9,937 8,757
Tax Exempt 58 182 276 633
Funds Sold 1,142 302 4,242 1,949
Total Interest Income 28,441 25,392 84,828 73,025
INTEREST EXPENSE        
Deposits 1,596 1,068 5,683 2,931
Short-Term Borrowings 27 41 93 57
Subordinated Notes Payable 558 568 1,762 1,595
Other Long-Term Borrowings 63 92 201 286
Total Interest Expense 2,244 1,769 7,739 4,869
NET INTEREST INCOME 26,197 23,623 77,089 68,156
Provision for Loan Losses 776 904 2,189 2,464
Net Interest Income After Provision For Loan Losses 25,421 22,719 74,900 65,692
NONINTEREST INCOME        
Other 1,391 1,749 4,372 4,861
Total Noninterest Income 13,903 13,308 39,225 38,327
NONINTEREST EXPENSE        
Compensation 16,203 15,891 48,989 47,599
Occupancy, Net 4,710 4,645 13,756 13,699
Other Real Estate Owned, Net 6 347 444 1,221
Other 6,954 7,816 21,278 22,479
Total Noninterest Expense 27,873 28,699 84,467 84,998
INCOME BEFORE INCOME TAXES 11,451 7,328 29,658 19,021
Income Tax Expense 2,970 1,338 7,416 1,255
NET INCOME $ 8,481 $ 5,990 $ 22,242 $ 17,766
BASIC NET INCOME PER SHARE (in dollars per shares) $ 0.51 $ 0.35 $ 1.33 $ 1.04
DILUTED NET INCOME PER SHARE (in dollars per shares) $ 0.5 $ 0.35 $ 1.32 $ 1.04
Average Basic Common Shares Outstanding (in shares) 16,747 17,056 16,776 17,043
Average Diluted Common Shares Outstanding (in shares) 16,795 17,125 16,810 17,102
Deposit fees [Member]        
NONINTEREST INCOME        
Revenue, fees and commissions $ 4,961 $ 5,207 $ 14,492 $ 14,921
Bank card fees [Member]        
NONINTEREST INCOME        
Revenue, fees and commissions 2,972 2,828 8,863 8,548
Wealth Managment fees [Member]        
NONINTEREST INCOME        
Revenue, fees and commissions 2,992 2,181 7,719 6,391
Mortgage banking [Member]        
NONINTEREST INCOME        
Revenue, fees and commissions $ 1,587 $ 1,343 $ 3,779 $ 3,606