28
Distribution, Rate & Yield
(dollars in thousands, except footnotes)
Average Income/
Average
Average Income/
Average
Average Income/
Average
Assets
Balance
(1)
Expense Rate/Yield
(2)
Balance
(1)
Expense Rate/Yield
(2)
Balance
(1)
Expense Rate/Yield
(2)
Investments:
Federal funds sold/Due frombanks
24,552
$
62 $
0.25% 40,522
$
102 $
0.25% 26,558
$
70 $
0.26%
Taxable
359,674
7,653
2.10% 309,944
4,899
1.56% 335,553
6,280
1.85%
Non-taxable
97,809
2,936
4.62% 86,591
2,737
4.79% 77,646
2,703
5.27%
Equity
2,474
90
3.59% 2,211
17
0.76% 1,755
84
4.72%
Total Investments
484,509
10,741
2.51% 439,268
7,755
1.74% 441,512
9,137
2.04%
Loans and Leases:
(3)
Real Estate
631,878
33,524
5.31% 557,014
31,064
5.58% 558,121
32,981
5.91%
Agricultural
25,151
993
3.95% 25,660
1,011
3.94% 17,910
760
4.24%
Commercial
99,847
4,481
4.49% 99,402
5,059
5.09% 97,385
5,113
5.25%
Consumer
21,137
1,923
9.10% 25,980
2,121
8.16% 31,472
2,638
8.38%
Mortgage Warehouse
79,096
3,272
4.14% 92,711
4,618
4.98% 79,200
4,044
5.11%
Direct Financing Leases
2,311
125
5.41% 2,985
157
5.26% 4,551
229
5.03%
Other
561
62
11.05%
781
-
0.00%
694
-
0.00%
Total Loans and Leases
859,981
44,380
5.16% 804,533
44,030
5.47% 789,333
45,765
5.80%
Total Interest Earning Assets
(4)
1,344,490
55,121
4.22% 1,243,801
51,785
4.28% 1,230,845
54,902
4.57%
Other Earning Assets
6,178
6,099
6,579
Non-Earning Assets
130,681
139,953
142,887
Total Assets
1,481,349
$
1,389,853
$
1,380,311
$
Liabilities andShareholders' Equity
Interest Bearing Deposits:
Demand Deposits
104,808
$
283 $
0.27% 83,757
$
281 $
0.34% 69,281
$
257 $
0.37%
NOW
244,085
338
0.14% 195,689
359
0.18% 194,249
556
0.29%
Savings Accounts
153,591
241
0.16% 133,019
285
0.21% 107,672
241
0.22%
Money Market
80,238
80
0.10% 71,339
94
0.13% 78,775
127
0.16%
CDAR's
12,645
11
0.09% 13,785
36
0.26% 17,999
52
0.29%
Certificates of Deposit<$100,000
77,563
326
0.42% 89,604
420
0.47% 106,403
619
0.58%
Certificates of Deposit>$100,000
202,196
691
0.34% 211,541
823
0.39% 223,611
1,154
0.52%
Brokered Deposits
5,940
94
1.58% 11,233
157
1.40% 15,000
202
1.35%
Total Interest Bearing Deposits
881,066
2,064
0.23% 809,967
2,455
0.30% 812,990
3,208
0.39%
Borrowed Funds:
Federal Funds Purchased
12
-
-
2
-
-
-
-
-
Repurchase Agreements
5,936
21
0.35% 2,876
13
0.45% 3,441
21
0.61%
Short TermBorrowings
3,502
4
0.11% 3,497
6
0.17% 15,234
37
0.24%
Long TermBorrowings
904
4
0.44% 1,041
33
3.17% 6,967
281
4.03%
TRUPS
30,928
703
2.27% 30,928
714
2.31% 30,928
774
2.50%
Total Borrowed Funds
41,282
732
1.77% 38,344
766
2.00% 56,570
1,113
1.97%
Total Interest Bearing Liabilities
922,348
2,796
0.30% 848,311
3,221
0.38% 869,560
4,321
0.50%
Non-interest Bearing Demand Deposits
355,395
348,579
319,501
Other Liabilities
17,213
16,184
18,551
Shareholders' Equity
186,393
176,779
172,699
Total Liabilities andShareholders' Equity
1,481,349
$
1,389,853
$
1,380,311
$
Interest Income/Interest Earning Assets
4.22%
4.28%
4.57%
Interest Expense/Interest Earning Assets
0.21%
0.26%
0.35%
Net Interest Income andMargin
(5)
52,325 $
4.01%
48,564 $
4.02%
50,581 $
4.22%
(1)
Average balances are obtained from the best available daily or monthly data and are net of deferred fees and related direct costs.
(2)
Yields and net interest margin have been computed on a taxequivalent basis.
(3)
Loans are gross of the allowance for possible loan losses. Net loan fees have been included in the calculation of interest income. Net loan Fees and
loan acquisition FMVamortization were $(731,316), $(10,967) and $5,476 for the years ended December 31, 2014, 2013, and 2012 respectively.
(4)
Non-accrual loans are slotted by loan type and have been included in total loans for purposes of total interest earning assets.
(5)
Net interest margin represents net interest income as a percentage of average interest-earning assets (tax-equivalent).
Year Ended December 31,
2014
2013
2012
