XML 47 R32.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Quarterly Financial Data (Unaudited) | 12 Months Ended
--- | ---
Dec. 31, 2023
Notes to Financial Statements. |
Quarterly Financial Data (Unaudited) | 23. Quarterly Financial Data (unaudited) Selected unaudited quarterly financial data for the fiscal years ended December 31, 2023 and 2022 is presented below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2023 | ​ | 2022
​ |  | 4th |  | 3rd |  | 2nd |  | 1st |  | 4th |  | 3rd | ​ | 2nd | ​ | 1st
​ | ​ | (In thousands, except per share data)
Quarterly operating data: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ |  | ​ | ​ |
Interest income | ​ | $ | 108,763 | ​ | $ | 104,036 | ​ | $ | 96,561 | ​ | $ | 92,117 | ​ | $ | 89,270 | ​ | $ | 81,745 | ​ | $ | 74,291 | ​ | $ | 71,320
Interest expense | ​ |  | 62,678 | ​ |  | 59,609 | ​ |  | 53,183 | ​ |  | 46,855 | ​ |  | 35,069 | ​ |  | 20,539 | ​ |  | 9,561 | ​ |  | 7,841
Net interest income | ​ |  | 46,085 | ​ |  | 44,427 | ​ |  | 43,378 | ​ |  | 45,262 | ​ |  | 54,201 | ​ |  | 61,206 | ​ |  | 64,730 | ​ |  | 63,479
Provision (benefit) for loan losses | ​ |  | 998 | ​ |  | 596 | ​ |  | 1,416 | ​ |  | 7,508 | ​ |  | (12) | ​ |  | 2,145 | ​ |  | 1,590 | ​ |  | 1,358
Other operating income (loss) | ​ |  | 7,402 | ​ |  | 3,309 | ​ |  | 5,020 | ​ |  | 6,857 | ​ |  | (7,652) | ​ |  | 8,995 | ​ |  | 7,353 | ​ |  | 1,313
Other operating expense | ​ |  | 40,735 | ​ |  | 36,388 | ​ |  | 35,110 | ​ |  | 39,156 | ​ |  | 33,742 | ​ |  | 35,634 | ​ |  | 35,522 | ​ |  | 38,794
Income before income tax expense | ​ |  | 11,754 | ​ |  | 10,752 | ​ |  | 11,872 | ​ |  | 5,455 | ​ |  | 12,819 | ​ |  | 32,422 | ​ |  | 34,971 | ​ |  | 24,640
Income tax expense | ​ | ​ | 3,655 | ​ | ​ | 2,917 | ​ | ​ | 3,186 | ​ | ​ | 1,411 | ​ | ​ | 2,570 | ​ | ​ | 8,980 | ​ | ​ | 9,936 | ​ | ​ | 6,421
Net income | ​ | $ | 8,099 | ​ | $ | 7,835 | ​ | $ | 8,686 | ​ | $ | 4,044 | ​ | $ | 10,249 | ​ | $ | 23,442 | ​ | $ | 25,035 | ​ | $ | 18,219
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic earnings per common share | ​ | $ | 0.27 | ​ | $ | 0.26 | ​ | $ | 0.29 | ​ | $ | 0.13 | ​ | $ | 0.34 | ​ | $ | 0.76 | ​ | $ | 0.81 | ​ | $ | 0.58
Diluted earnings per common share | ​ | $ | 0.27 | ​ | $ | 0.26 | ​ | $ | 0.29 | ​ | $ | 0.13 | ​ | $ | 0.34 | ​ | $ | 0.76 | ​ | $ | 0.81 | ​ | $ | 0.58
Dividends per common share | ​ | $ | 0.22 | ​ | $ | 0.22 | ​ | $ | 0.22 | ​ | $ | 0.22 | ​ | $ | 0.22 | ​ | $ | 0.22 | ​ | $ | 0.22 | ​ | $ | 0.22
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Average common shares outstanding for: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Basic earnings per share | ​ | ​ | 29,650 | ​ | ​ | 29,703 | ​ | ​ | 30,090 | ​ | ​ | 30,265 | ​ | ​ | 30,420 | ​ | ​ | 30,695 | ​ | ​ | 30,937 | ​ | ​ | 31,254
Diluted earnings per share | ​ | ​ | 29,650 | ​ | ​ | 29,703 | ​ | ​ | 30,090 | ​ | ​ | 30,265 | ​ | ​ | 30,420 | ​ | ​ | 30,695 | ​ | ​ | 30,937 | ​ | ​ | 31,254
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ As previously disclosed on Form 8-K filed on January 26, 2024, the Company’s consolidated financial statements and ratios for the three month period ended March 31, 2023, the three and six month periods ended June 30, 2023 and the three and nine month periods ended September 30, 2023, were in need of restatement to correct the accounting treatment of employee retention credits (“ERCs”), which were incorrectly recognized as income during such periods. On February 12, 2024 the Company filed 10-Q/A’s for the quarterly periods ended March 31, 2023, June 30, 2023 and September 30, 2023, to correct the previously reported treatment of ERCs. The change impacted net income by a decrease of $1.1 million for the period ended March 31, 2023, an increase of $0.1 million and a decrease of $1.1 million, respectively, for the three and six month periods ended June 30, 2023, and a decrease of $1.6 million and $2.6 million, respectively, for the three and nine month periods ended September 30, 2023. The table above reflects the corrected financial results.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147482964/270-10-50-1B Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 270 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//270/tableOfContent + Details
Name: | us-gaap_QuarterlyFinancialInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration