Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
INTEREST INCOME        
Loans, including Fees $ 18,231 $ 18,152 $ 36,094 $ 36,250
Investment Securities:        
Taxable Securities 1,299 815 2,484 1,519
Tax Exempt Securities 152 124 261 267
Federal Funds Sold and Interest Bearing Deposits 151 257 340 548
Total Interest Income 19,833 19,348 39,179 38,584
INTEREST EXPENSE        
Deposits 259 293 505 601
Short-Term Borrowings 15 17 36 37
Subordinated Notes Payable 338 331 670 662
Other Long-Term Borrowings 237 269 477 560
Total Interest Expense 849 910 1,688 1,860
NET INTEREST INCOME 18,984 18,438 37,491 36,724
Provision for Loan Losses 375 499 668 858
Net Interest Income After Provision for Loan Losses 18,609 17,939 36,823 35,866
NONINTEREST INCOME        
Deposit Fees 5,682 6,213 11,223 12,082
Bank Card Fees 2,844 2,820 5,586 5,527
Wealth Management Fees 1,776 1,852 3,822 3,770
Mortgage Banking Fees 1,203 738 2,190 1,363
Data Processing Fees 364 388 737 929
Other 2,925 1,336 4,084 2,461
Total Noninterest Income 14,794 13,347 27,642 26,132
NONINTEREST EXPENSE        
Compensation 16,404 15,206 32,928 30,987
Occupancy, Net 4,258 4,505 8,654 8,803
Other Real Estate Owned, Net 931 2,276 2,428 3,675
Other 6,846 7,089 13,819 13,977
Total Noninterest Expense 28,439 29,076 57,829 57,442
INCOME BEFORE INCOME TAXES 4,964 2,210 6,636 4,556
Income Tax Expense (Benefit) 1,119 737 1,805 (668)
NET INCOME $ 3,845 $ 1,473 $ 4,831 $ 5,224
BASIC NET INCOME PER SHARE (in dollars per shares) $ 0.22 $ 0.08 $ 0.28 $ 0.3
DILUTED NET INCOME PER SHARE (in dollars per shares) $ 0.22 $ 0.08 $ 0.28 $ 0.3
Average Basic Common Shares Outstanding (in shares) 17,296 17,427 17,402 17,413
Average Diluted Common Shares Outstanding (in shares) 17,358 17,488 17,456 17,463