XML 16 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest and dividend income:        
Loans, including fees $ 98,229 $ 86,747 $ 194,713 $ 169,161
Investments:        
Taxable securities 16,617 18,477 34,066 37,089
Tax exempt securities 915 1,262 1,832 2,570
Dividends 387 298 767 602
Interest bearing cash at Federal Reserve and other banks 884 374 1,071 643
Total interest and dividend income 117,032 107,158 232,449 210,065
Interest expense:        
Deposits 29,021 11,457 52,550 16,602
Other borrowings 4,118 5,404 11,496 8,212
Junior subordinated debt 1,896 1,696 3,670 3,314
Total interest expense 35,035 18,557 67,716 28,128
Net interest income 81,997 88,601 164,733 181,937
Provision for credit losses 405 9,650 4,710 13,845
Net interest income after credit loss provision 81,592 78,951 160,023 168,092
Non-interest income:        
Service charges and fees 12,796 12,968 25,433 24,165
Gain on sale of loans 388 295 649 501
Loss on sale or exchange of investment securities (45) 0 (45) (164)
Asset management and commission income 1,359 1,158 2,487 2,092
Increase in cash value of life insurance 831 788 1,634 1,590
Other 537 532 1,479 1,192
Total non-interest income 15,866 15,741 31,637 29,376
Non-interest expense:        
Salaries and related benefits 35,401 34,714 69,705 67,277
Other 22,938 26,529 45,138 47,760
Total non-interest expense 58,339 61,243 114,843 115,037
Income before provision for income taxes 39,119 33,449 76,817 82,431
Provision for income taxes 10,085 8,557 20,034 21,706
Net income $ 29,034 $ 24,892 $ 56,783 $ 60,725
Per share data:        
Basic earnings per share (in USD per share) $ 0.88 $ 0.75 $ 1.71 $ 1.83
Diluted earnings per share (in USD per share) 0.87 0.75 1.70 1.82
Dividend per share (in USD per share) $ 0.33 $ 0.30 $ 0.66 $ 0.60