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Income Statement

 2016 Y2015 Y2014 Y2013 Y
Source Document12/31/201612/31/201612/31/201612/31/2015
(in thousands)    
Interest and dividend income 
Interest and fees on loans 58,95345,34237,38221,876
Interest on securities 8,8958,8287,8598,821
Dividends 1,5964,0683,8942,329
Other 946314066
Total interest and dividend income 69,53858,30149,27533,092
Interest expense 
Interest on deposits 10,4887,5275,7506,803
Interest on borrowings 2,0881,2171,1481,168
Total interest expense 12,5768,7446,8987,971
Net interest and dividend income 56,96249,55742,37725,121
Provision for loan losses 4,8854,0903,3814,094
Net interest and dividend income, after provision for loan losses 52,07745,46738,99621,027
Noninterest income 
Total other than temporary impairment losses NANANA(92)
Portion of impairment losses on debt securities recognized in other comprehensive income NANANA0
Net impairment losses recognized in earnings 00(307)(92)
Deposit account fees 1,3271,3141,313579
Interchange and ATM fees 1,5461,5111,397821
Mortgage banking 2,4732827841,290
Loan level derivative fee income 2,3712,1206601,392
Gains on sales and calls of securities, net 1,2801,9682,8225,091
Gains on trading assets, net 0025505
Bank-owned life insurance income 1,0481,0311,0061,023
Bank-owned life insurance death benefit gains 50601821,872
Pension curtailment gain 001,3040
Miscellaneous 1,576453421530
Total noninterest income 12,1278,6799,60713,011
Noninterest expense 
Salaries and employee benefits 28,85322,57021,30816,903
Occupancy and equipment 7,3706,2675,3053,996
Data processing 3,4603,5102,9891,934
Professional fees 2,6382,6893,5513,348
Advertising 2,4232,4582,4271,823
FDIC deposit insurance 1,1259991,266520
Directors' fees 1,458644486688
Amortization of core deposit intangible 1,2251,6071,8080
Charitable foundation contribution 007,000120
Other general and administrative 3,1943,3383,2682,327
Total noninterest expense 51,74644,08249,40831,659
Income (loss) before income taxes 12,45810,064(805)2,379
Provision (benefit) for income taxes 3,8052,837(622)(284)
Net income (loss) 8,6537,227(183)2,663
Earnings per common share 
Basic 0.350.28NANA
Diluted 0.350.28NANA
Weighted average shares outstanding 
Basic 24,420,40526,064,947NANA
Diluted 24,540,92926,069,589NANA
Consolidated Statements of Comprehensive Income (Loss) 
Net income (loss) 8,6537,227(183)2,663
Other comprehensive income (loss) 
Securities available for sale 
Change in unrealized holding gains (losses) 3,849(8,332)4,942(9,256)
Reclassification adjustment for net gains realized in net income (1,235)(1,968)(2,515)(4,999)
Reclassification of unrealized gains on securities transferred to held to maturity 0(666)00
Net unrealized gains (losses) 2,614(10,966)2,427(14,255)
Tax effect (938)3,818(1,018)5,433
Net-of-tax amount 1,676(7,148)1,409(8,822)
Securities held to maturity 
Reclassification of unrealized gains on securities transferred from available-for-sale 066600
Amortization of amounts previously recorded upon transfer from available-for-sale (234)(95)00
Net change in unrealized gains (234)57100
Tax effect 83(197)00
Net-of-tax amount (151)37400
Defined benefit pension plan 
Losses arising during the period (895)(1,610)(2,090)2,033
Reclassification adjustment for losses (gains) recognized in net periodic benefit cost 271110(70)104
Net losses (624)(1,500)(2,160)2,137
Tax effect 218509863(853)
Net-of-tax amount (406)(991)(1,297)1,284
Other comprehensive income (loss) 1,119(7,765)112(7,538)
Comprehensive income (loss) 9,772(538)(71)(4,875)

Data shown on this page is extracted directly from the company's documents. SNL makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company's presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, SNL, as always, stands by its commitment to the quality of the data.

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