Income Statement

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 2010 Y2011 Y2012 Y2013 Y
Source Document12/31/201212/31/201312/31/201312/31/2013
Currency CodeUSDUSDUSDUSD
(in thousands)    
     
Interest Income 
Loans, including fees 67,39061,46556,97552,604
Securities 
Taxable 3,6494,8884,5573,799
Exempt from federal income tax 1,1381,1181,1691,693
Short term investments 205173165178
Total Interest Income 72,38267,64462,86658,274
Interest Expense 
Deposits 15,73310,8916,6264,891
FHLB advances and notes payable 3,564801625538
Subordinated debentures 1,4971,1971,036659
Other 96838786
Total Interest Expense 20,89012,9728,3746,174
Net Interest Income 51,49254,67254,49252,100
Provision for loan losses 13,34413,3377,6901,830
Net Interest Income after Provision for Loan Losses 38,14841,33546,80250,270
Non-Interest Income 
Service charges on deposit accounts 4,5764,4924,2194,136
Gain on sale of mortgage loans 5,9073,6836,5234,436
Mortgage servicing, net of amortization (96)89(231)63
Gain/(loss) on trading account securities 3(11)412
Gain/(loss) on securities transactions 4(37)44334
Courier and cash delivery services 174NANANA
Other 1,2611,4592,1111,807
Total Non-Interest Income 11,8299,67512,67010,788
Non-Interest Expense 
Salaries and employee benefits 20,88921,26322,68023,281
Occupancy and equipment 5,5555,3115,1525,306
FDIC insurance premium 2,0981,5601,220989
Amortization of intangibles 796698483369
Outside professional services 1,1441,2021,2871,268
Advertising and promotions 1,6841,4251,4911,315
Other real estate owned costs 3,5133,1531,679559
Merger related expenses NA00871
Other 9,0238,94110,6909,732
Total Non-Interest Expense 44,70243,55344,68243,690
Income before federal income taxes 5,2757,45714,79017,368
Federal income taxes 1,5121,8344,2565,134
NET INCOME 3,7635,62310,53412,234
Preferred stock dividends and accretion of discount on preferred stock 1,6791,6791,275481
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS 2,0843,9449,25911,753
Basic earnings per common share 0.270.51.171.46
Diluted earnings per common share 0.270.51.161.45
COMPREHENSIVE INCOME 
Net income 3,7635,62310,53412,234
Other comprehensive income/(loss) 
Unrealized holding gains/(losses) arising during the period NA4,1301,123(4,764)
Less - reclassification adjustment for (gains)/losses included in net income NA37(44)(334)
Other comprehensive income/(loss) before taxes NA4,1671,079(5,098)
Income tax expense/(benefit) related to items in other comprehensive income NA(1,417)(367)1,737
Other comprehensive income net of income tax effect (452)2,750712(3,361)
Comprehensive income 3,3118,37311,2468,873


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