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Summary of Quarterly Results of Operations (unaudited) | 12 Months Ended
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Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract] |
Summary of Quarterly Results of Operations (unaudited) | Summary of Quarterly Results of Operations (unaudited) The following tables set forth the results of operations for the four quarters of 2022 and 2021, and is unaudited; however, in the opinion of Management, it reflects all adjustments (which include only normal recurring adjustments) necessary to present fairly the summarized results for such periods.
| 2022 Quarters Ended
(dollars in thousands, except per share data) | December 31, |  | September 30, |  | June 30, |  | March 31,
Interest and dividend income: |  |  |  |  |  |  |
Loans: |  |  |  |  |  |  |
Discount accretion | $ | 1,751 |  |  | $ | 714 |  |  | $ | 1,677 |  |  | $ | 1,323 |
All other loan interest income | 80,005 |  |  | 75,242 |  |  | 68,241 |  |  | 56,422 |
Total loan interest income | 81,756 |  |  | 75,956 |  |  | 69,918 |  |  | 57,745 |
Debt securities, dividends and interest bearing cash at banks | 21,233 |  |  | 20,410 |  |  | 17,037 |  |  | 11,450 |
Total interest income | 102,989 |  |  | 96,366 |  |  | 86,955 |  |  | 69,195 |
Interest expense | 4,089 |  |  | 2,260 |  |  | 1,909 |  |  | 1,271 |
Net interest income | 98,900 |  |  | 94,106 |  |  | 85,046 |  |  | 67,924 |
Provision for credit losses | 4,245 |  |  | 3,795 |  |  | 2,100 |  |  | 8,330 |
Net interest income after provision for credit losses | 94,655 |  |  | 90,311 |  |  | 82,946 |  |  | 59,594 |
Noninterest income | 15,880 |  |  | 15,640 |  |  | 16,430 |  |  | 15,096 |
Noninterest expense | 59,469 |  |  | 54,465 |  |  | 56,264 |  |  | 46,447 |
Income before income taxes | 51,066 |  |  | 51,486 |  |  | 43,112 |  |  | 28,243 |
Income tax expense | 14,723 |  |  | 14,148 |  |  | 11,748 |  |  | 7,869 |
Net income | $ | 36,343 |  |  | $ | 37,338 |  |  | $ | 31,364 |  |  | $ | 20,374 |
Per common share: |  |  |  |  |  |  |
Net income (diluted) | $ | 1.09 |  |  | $ | 1.12 |  |  | $ | 0.93 |  |  | $ | 0.67 |
Dividends | $ | 0.30 |  |  | $ | 0.30 |  |  | $ | 0.25 |  |  | $ | 0.25 |
| 2021 Quarters Ended
(dollars in thousands, except per share data) | December 31, |  | September 30, |  | June 30, |  | March 31,
Interest and dividend income: |  |  |  |  |  |  |
Loans: |  |  |  |  |  |  |
Discount accretion | $ | 1,780 |  |  | $ | 2,034 |  |  | $ | 2,566 |  |  | $ | 1,712 |
All other loan interest income | 59,024 |  |  | 58,691 |  |  | 57,738 |  |  | 58,724 |
Total loan interest income | 60,804 |  |  | 60,725 |  |  | 60,304 |  |  | 60,436 |
Debt securities, dividends and interest bearing cash at banks | 10,220 |  |  | 8,903 |  |  | 8,175 |  |  | 7,480 |
Total interest income | 71,024 |  |  | 69,628 |  |  | 68,479 |  |  | 67,916 |
Interest expense | 1,241 |  |  | 1,395 |  |  | 1,396 |  |  | 1,476 |
Net interest income | 69,783 |  |  | 68,233 |  |  | 67,083 |  |  | 66,440 |
Provision for (benefit from reversal of) credit losses | 980 |  |  | (1,435) |  |  | (260) |  |  | (6,060) |
Net interest income after provision for (benefit from) credit losses | 68,803 |  |  | 69,668 |  |  | 67,343 |  |  | 72,500 |
Noninterest income | 16,502 |  |  | 15,095 |  |  | 15,957 |  |  | 16,110 |
Noninterest expense | 46,679 |  |  | 45,807 |  |  | 44,171 |  |  | 41,618 |
Income before income taxes | 38,626 |  |  | 38,956 |  |  | 39,129 |  |  | 46,992 |
Income tax expense | 10,404 |  |  | 11,534 |  |  | 10,767 |  |  | 13,343 |
Net income | $ | 28,222 |  |  | $ | 27,422 |  |  | $ | 28,362 |  |  | $ | 33,649 |
Per common share: |  |  |  |  |  |  |
Net income (diluted) | $ | 0.94 |  |  | $ | 0.92 |  |  | $ | 0.95 |  |  | $ | 1.13 |
Dividends | $ | 0.25 |  |  | $ | 0.25 |  |  | $ | 0.25 |  |  | $ | 0.25 |

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI https://asc.fasb.org/topic&trid=2126967 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=126900988&loc=SL124452896-108306 + Details
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