XML 15 R4.htm IDEA: XBRL DOCUMENT v3.25.3
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Loans/leases, including fees:        
Taxable $ 77,347 $ 82,149 $ 226,557 $ 239,023
Nontaxable 29,820 27,416 83,915 77,595
Securities:        
Taxable 4,879 4,440 14,272 12,986
Nontaxable 10,904 8,488 30,274 23,350
Interest-bearing deposits at financial institutions 1,340 1,915 4,778 4,254
Restricted investment securities 570 840 1,726 2,383
Federal funds sold 155 172 413 624
Total interest and dividend income 125,015 125,420 361,935 360,215
Interest expense:        
Deposits 52,817 55,386 154,217 159,855
Short-term borrowings 22 32 55 76
Federal Home Loan Bank advances 2,348 5,971 7,197 16,948
Other borrowings 479   479  
Subordinated notes 3,861 3,616 11,062 10,678
Junior subordinated debentures 689 693 2,058 2,074
Total interest expense 60,216 65,698 175,068 189,631
Net interest income 64,799 59,722 186,867 170,584
Provision for credit losses 4,305 3,484 12,582 11,949
Net interest income after provision for credit losses 60,494 56,238 174,285 158,635
Noninterest income:        
Gains on sales of residential real estate loans, net 529 385 1,382 1,307
Gains on sales of government guaranteed portions of loans, net 6   107 36
Capital markets revenue 23,832 16,290 40,217 50,505
Earnings on bank-owned life insurance 952 814 2,474 4,646
Loan related fee income 846 949 2,840 2,747
Fair value gain (loss) on derivatives and trading securities 324 (886) (453) (998)
Other 587 730 1,108 1,102
Total noninterest income 36,651 27,157 75,658 84,904
Noninterest expense:        
Salaries and employee benefits 34,338 31,637 90,176 94,576
Occupancy and equipment expense 7,363 6,168 20,655 19,059
Professional and data processing fees 6,741 4,457 17,974 13,893
Restructuring expense   1,954   1,954
FDIC insurance, other insurance and regulatory fees 2,035 1,711 5,965 5,510
Loan/lease expense 345 587 1,133 1,116
Net cost of (income from) and losses/(gains) on operations of other real estate 3 (42) 44 (44)
Advertising and marketing 1,830 2,124 5,189 5,172
Communication and data connectivity 40 333 604 1,052
Supplies 259 278 718 812
Bank service charges 678 603 1,994 1,793
Correspondent banking expense 338 325 981 993
Intangibles amortization 662 690 1,984 2,070
Goodwill impairment   432   432
Payment card processing 569 785 1,710 2,137
Trust expense 412 395 1,182 1,199
Other 974 1,128 2,400 2,419
Total noninterest expense 56,587 53,565 152,709 154,143
Net income before income taxes 40,558 29,830 97,234 89,396
Federal and state income tax expense 3,844 2,045 5,704 5,771
Net income $ 36,714 $ 27,785 $ 91,530 $ 83,625
Basic earnings per common share (in dollars per share) $ 2.17 $ 1.65 $ 5.41 $ 4.97
Diluted earnings per common share (in dollars per share) $ 2.16 $ 1.64 $ 5.38 $ 4.94
Weighted average common shares outstanding 16,919,785 16,846,200 16,916,371 16,814,787
Weighted average common and common equivalent shares outstanding 17,015,730 16,982,400 17,011,877 16,938,309
Cash dividends declared per common share $ 0.06 $ 0.06 $ 0.18 $ 0.18
Trust fees        
Noninterest income:        
Revenue $ 3,544 $ 3,270 $ 10,625 $ 9,572
Investment advisory and management fees        
Noninterest income:        
Revenue 1,488 1,229 3,996 3,544
Deposit service fees        
Noninterest income:        
Revenue 2,231 2,294 6,601 6,302
Debit card fees        
Noninterest income:        
Revenue 1,648 1,575 4,784 4,612
Correspondent banking fees        
Noninterest income:        
Revenue $ 664 $ 507 $ 1,977 $ 1,529