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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Loans/leases, including fees:      
Taxable $ 317,449 $ 284,778 $ 215,900
Nontaxable 104,376 83,889 41,937
Securities:      
Taxable 17,216 14,927 12,078
Nontaxable 33,056 22,335 19,089
Interest-bearing deposits at financial institutions 6,077 4,137 1,089
Restricted investment securities 2,991 2,346 2,068
Federal funds sold 692 998 410
Total interest and dividend income 481,857 413,410 292,571
Interest expense:      
Deposits 213,131 159,419 42,362
Short-term borrowings 99 179 299
Federal Home Loan Bank advances 19,750 16,740 6,954
Other borrowings     53
Subordinated notes 14,314 13,230 9,200
Junior subordinated debentures 2,775 2,836 2,583
Total interest expense 250,069 192,404 61,451
Net interest income 231,788 221,006 231,120
Provision for credit losses 17,098 16,539 8,284
Net interest income after provision for credit losses 214,690 204,467 222,836
Noninterest income:      
Gains on sales of residential real estate loans, net 2,041 1,611 2,411
Gains on sales of government guaranteed portions of loans, net 85 54 119
Capital markets revenue 71,057 92,065 41,309
Securities losses, net   (451)  
Earnings on bank-owned life insurance 5,443 4,184 2,056
Loan related fee income 3,697 3,066 2,428
Fair value gain (loss) on derivatives and trading securities (2,779) (1,262) 1,975
Other 1,307 1,817 1,372
Total noninterest income 115,529 132,684 80,729
Noninterest expense:      
Salaries and employee benefits 128,186 136,619 115,368
Occupancy and equipment expense 25,413 25,031 21,975
Professional and data processing fees 19,373 16,271 16,282
Acquisition costs     3,715
Post-acquisition compensation, transition and integration costs   207 5,526
Restructuring expense 1,954    
FDIC insurance, other insurance and regulatory fees 7,444 7,137 5,806
Loan/lease expense 1,629 2,868 1,829
Net cost of (income from) and gains/losses on operations of other real estate (21) (26) (40)
Advertising and marketing 7,058 6,042 4,958
Communication and data connectivity 1,397 2,063 2,213
Supplies 1,064 1,254 1,109
Bank service charges 2,428 2,592 2,282
Correspondent banking expense 1,321 963 840
Intangibles amortization 2,761 2,938 2,854
Goodwill impairment 432    
Payment card processing 2,653 2,656 1,964
Trust expense 1,580 1,396 775
Other 2,970 2,520 2,560
Total noninterest expense 207,642 210,531 190,016
Net income before income taxes 122,577 126,620 113,549
Federal and state income tax expense 8,727 13,062 14,483
Net income $ 113,850 $ 113,558 $ 99,066
Basic earnings per common share (in dollars per share) $ 6.77 $ 6.79 $ 5.94
Diluted earnings per common share (in dollars per share) $ 6.71 $ 6.73 $ 5.87
Weighted average common shares outstanding, Basic 16,829,004 16,732,406 16,681,844
Weighted average common and common equivalent shares outstanding, Diluted 16,959,853 16,866,391 16,890,007
Cash dividends declared per common share $ 0.24 $ 0.24 $ 0.24
Trust fees      
Noninterest income:      
Revenue $ 13,028 $ 11,697 $ 10,641
Investment advisory and management fees      
Noninterest income:      
Revenue 4,864 3,864 3,858
Deposit service fees      
Noninterest income:      
Revenue 8,530 8,177 8,134
Debit card fees      
Noninterest income:      
Revenue 6,167 6,200 5,459
Correspondent banking fees      
Noninterest income:      
Revenue $ 2,089 $ 1,662 $ 967