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As Reported Financial Statements

As Reported Financials

Source Document Currency Code (in thousands) 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD
Source Document Currency Code 2015 Y 12/31/2017 USD 2016 Y 12/31/2018 USD 2017 Y 12/31/2018 USD 2018 Y 12/31/2018 USD

Interest income

Interest and fees on loans 83,575 92,296 106,282 130,703
Interest and dividends on investment securities 21,875 22,917 23,755 21,601
Other interest income 0 18 73 428
Total interest income 105,450 115,231 130,110 152,732

Interest expense

Deposits 7,306 8,458 11,093 19,055
Short-term borrowings 1,081 1,612 3,931 8,342
Long-term borrowings 1,750 2,471 2,471 2,471
Total interest expense 10,137 12,541 17,495 29,868
Net interest income 95,313 102,690 112,615 122,864
Provision for loan losses 7,381 9,638 13,361 8,934
Net interest income after provision for loan losses 87,932 93,052 99,254 113,930

Noninterest income

Service charges on deposits 7,742 7,280 7,391 7,120
Insurance income 5,166 5,396 5,266 4,930
ATM and debit card 5,084 5,687 5,721 6,152
Investment advisory 2,193 5,208 6,104 8,123
Company owned life insurance 1,962 2,808 1,781 1,793
Investments in limited partnerships 895 300 110 1,203
Loan servicing 503 436 439 441
Income from derivative instruments, net NA 0 131 972
Net gain on sale of loans held for sale 249 240 376 796
Net (loss) gain on investment securities 1,988 2,695 1,260 (127)
Net gain on other assets 27 313 37 50
Amortization of tax credit investment (390) NA NA NA
Contingent consideration liability adjustment 1,093 1,170 1,200 0
Other 3,825 4,227 4,914 5,025
Total noninterest income 30,337 35,760 34,730 36,478

Noninterest expense

Salaries and employee benefits 42,439 45,215 48,675 54,643
Occupancy and equipment 13,856 14,529 16,293 17,338
Professional services 3,681 5,782 4,083 3,912
Computer and data processing 4,267 4,451 4,935 5,122
Supplies and postage 2,155 2,047 2,003 2,032
FDIC assessments 1,719 1,735 1,817 1,975
Advertising and promotions 1,986 2,097 2,171 3,582
Amortization of intangibles 942 1,249 1,170 1,257
Goodwill impairment 751 0 1,575 2,350
Other 7,597 7,566 7,791 8,665
Total noninterest expense 79,393 84,671 90,513 100,876
Income before income taxes 38,876 44,141 43,471 49,532
Income tax expense 10,539 12,210 9,945 10,006
Net income 28,337 31,931 33,526 39,526
Preferred stock dividends 1,462 1,462 1,462 1,461
Net income available to common shareholders 26,875 30,469 32,064 38,065

Earnings per common share

Basic 1.91 2.11 2.13 2.39
Diluted 1.90 2.10 2.13 2.39
Cash dividends declared per common share 0.80 0.81 0.85 0.96

Weighted average common shares outstanding

Basic 14,081 14,436 15,044 15,910
Diluted 14,135 14,491 15,085 15,956

Consolidated Statements of Comprehensive Income

Net income 28,337 31,931 33,526 39,526

Other comprehensive income (loss), net of tax

Securities available for sale and transferred securities (2,321) (3,033) 454 (4,494)
Hedging derivative instruments NA 0 0 (276)
Pension and post-retirement obligations 5 409 1,581 (4,595)
Total other comprehensive income (loss), net of tax (2,316) (2,624) 2,035 (9,365)
Comprehensive income 26,021 29,307 35,561 30,161
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