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, 2019
Dec. 31, 2018
Dec. 31, 2017
INTEREST INCOME      
Loans, including Fees $ 94,215 $ 84,117 $ 75,717
Investment Securities:      
Taxable 13,122 12,081 8,095
Tax Exempt 312 787 1,052
Funds Sold 5,187 2,410 2,066
Total Interest Income 112,836 99,395 86,930
INTEREST EXPENSE      
Deposits 6,840 4,243 1,789
Short-Term Borrowings 109 110 82
Subordinated Notes Payable 2,287 2,167 1,634
Other Long-Term Borrowings 257 371 443
Total Interest Expense 9,493 6,891 3,948
NET INTEREST INCOME 103,343 92,504 82,982
Provision for Loan Losses 2,027 2,921 2,215
Net Interest Income After Provision for Loan Losses 101,316 89,583 80,767
NONINTEREST INCOME      
Other 5,786 6,648 6,182
Total Noninterest Income 53,053 51,565 51,746
NONINTEREST EXPENSE      
Compensation 66,352 63,921 62,312
Occupancy, Net 18,436 18,503 17,837
Other Real Estate Owned, Net 546 (442) 1,135
Other 28,275 29,521 28,163
Total Noninterest Expense 113,609 111,503 109,447
INCOME BEFORE INCOME TAXES 40,760 29,645 23,066
Income Tax Expense 9,953 3,421 12,203
NET INCOME $ 30,807 $ 26,224 $ 10,863
BASIC NET INCOME PER SHARE (in dollars per share) $ 1.84 $ 1.54 $ 0.64
DILUTED NET INCOME PER SHARE (in dollars per share) $ 1.83 $ 1.54 $ 0.64
Average Basic Common Shares Outstanding (in shares) 16,770 17,029 16,952
Average Diluted Common Shares Outstanding (in shares) 16,827 17,072 17,013
Deposit fees [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions $ 19,472 $ 20,093 $ 20,335
Bank card fees [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions 11,994 11,378 11,191
Wealth managment fees [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions 10,480 8,711 8,284
Mortgage fees [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions $ 5,321 $ 4,735 $ 5,754