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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest and dividend income:        
Loans, including fees $ 98,085 $ 91,707 $ 292,799 $ 260,868
Investments:        
Taxable securities 16,812 18,657 50,878 55,746
Tax exempt securities 897 1,350 2,729 3,920
Dividends 376 333 1,143 935
Interest bearing cash at Federal Reserve and other banks 1,177 333 2,247 976
Total interest and dividend income 117,347 112,380 349,796 322,445
Interest expense:        
Deposits 30,688 17,379 83,238 33,981
Other borrowings 2,144 5,106 13,640 13,318
Junior subordinated debt 1,904 1,772 5,574 5,086
Total interest expense 34,736 24,257 102,452 52,385
Net interest income 82,611 88,123 247,344 270,060
Provision for credit losses 220 4,155 4,930 18,000
Net interest income after credit loss provision 82,391 83,968 242,414 252,060
Non-interest income:        
Service charges and fees 12,782 13,075 38,215 37,240
Gain on sale of loans 549 382 1,198 883
(Loss) gain on sale or exchange of investment securities 2 0 (43) (164)
Asset management and commission income 1,502 1,141 3,989 3,233
Increase in cash value of life insurance 786 684 2,420 2,274
Other 874 702 2,353 1,894
Total non-interest income 16,495 15,984 48,132 45,360
Non-interest expense:        
Salaries and related benefits 35,550 34,463 105,255 101,740
Other 23,937 23,415 69,075 71,175
Total non-interest expense 59,487 57,878 174,330 172,915
Income before provision for income taxes 39,399 42,074 116,216 124,505
Provision for income taxes 10,348 11,484 30,382 33,190
Net income $ 29,051 $ 30,590 $ 85,834 $ 91,315
Per share data:        
Basic earnings per share (in USD per share) $ 0.88 $ 0.92 $ 2.59 $ 2.75
Diluted earnings per share (in USD per share) 0.88 0.92 2.58 2.74
Dividends per share (in USD per share) $ 0.33 $ 0.30 $ 0.99 $ 0.90