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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
11,313
$
31 $
0.27% 24,552
$
62 $
0.25% 40,522
$
102 $
0.25%
Taxable
405,987
8,192
1.99% 359,674
7,653
2.10% 309,944
4,899
1.56%
Non-taxable
99,963
2,953
4.54% 97,809
2,936
4.62% 86,591
2,737
4.79%
Equity
1,760
19
1.06% 2,474
90
3.59% 2,211
17
0.76%
Total Investments
519,023
11,195
2.43% 484,509
10,741
2.51% 439,268
7,755
1.74%
Loans and Leases:
(3)
Real Estate
730,509
38,203
5.23% 631,878
33,524
5.31% 557,014
31,064
5.58%
Agricultural
32,084
1,329
4.14% 25,151
993
3.95% 25,660
1,011
3.94%
Commercial
106,342
4,941
4.65% 99,847
4,481
4.49% 99,402
5,059
5.09%
Consumer
16,981
1,707
10.05% 21,137
1,923
9.10% 25,980
2,121
8.16%
Mortgage Warehouse
138,106
5,103
3.69% 79,096
3,272
4.14% 92,711
4,618
4.98%
Direct Financing Leases
1,871
98
5.24% 2,311
125
5.41% 2,985
157
5.26%
Other
2,090
131
6.27%
561
62
11.05%
781
-
0.00%
Total Loans and Leases
1,027,983
51,512
5.01% 859,981
44,380
5.16% 804,533
44,030
5.47%
Total Interest Earning Assets
(4)
1,547,006
62,707
4.16% 1,344,490
55,121
4.22% 1,243,801
51,785
4.28%
Other Earning Assets
7,385
6,178
6,099
Non-Earning Assets
138,378
130,681
139,953
Total Assets
1,692,769
$
1,481,349
$
1,389,853
$
Liabilities andShareholders' Equity
Interest Bearing Deposits:
Demand Deposits
120,363
$
355 $
0.29% 104,808
$
283 $
0.27% 83,757
$
281 $
0.34%
NOW
293,043
344
0.12% 244,085
338
0.14% 195,689
359
0.18%
Savings Accounts
186,224
207
0.11% 153,591
241
0.16% 133,019
285
0.21%
Money Market
109,479
78
0.07% 80,238
80
0.10% 71,339
94
0.13%
CDAR's
12,007
8
0.07% 12,645
11
0.09% 13,785
36
0.26%
Certificates of Deposit<$100,000
77,058
247
0.32% 77,563
326
0.42% 89,604
420
0.47%
Certificates of Deposit>$100,000
215,625
535
0.25% 202,196
691
0.34% 211,541
823
0.39%
Brokered Deposits
644
11
1.71% 5,940
94
1.58% 11,233
157
1.40%
Total Interest Bearing Deposits
1,014,443
1,785
0.18% 881,066
2,064
0.23% 809,967
2,455
0.30%
Borrowed Funds:
Federal Funds Purchased
6
-
-
12
-
-
2
-
-
Repurchase Agreements
8,601
35
0.41% 5,936
21
0.35% 2,876
13
0.45%
Short TermBorrowings
14,697
31
0.21% 3,502
4
0.11% 3,497
6
0.17%
Long TermBorrowings
2,504
13
0.52%
904
4
0.44% 1,041
33
3.17%
TRUPS
30,928
717
2.32% 30,928
703
2.27% 30,928
714
2.31%
Total Borrowed Funds
56,736
796
1.40% 41,282
732
1.77% 38,344
766
2.00%
Total Interest Bearing Liabilities
1,071,179
2,581
0.24% 922,348
2,796
0.30% 848,311
3,221
0.38%
Non-interest Bearing Demand Deposits
417,993
355,395
348,579
Other Liabilities
15,116
17,213
16,184
Shareholders' Equity
188,481
186,393
176,779
Total Liabilities andShareholders' Equity
1,692,769
$
1,481,349
$
1,389,853
$
Interest Income/Interest Earning Assets
4.16%
4.22%
4.28%
Interest Expense/Interest Earning Assets
0.17%
0.21%
0.26%
Net Interest Income andMargin
(5)
60,126 $
3.99%
52,325 $
4.01%
48,564 $
4.02%
(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 $276,596, $(731,316) and $(10,967) for the years ended December 31, 2015, 2014, and 2013 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,
2015
2014
2013