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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income:        
Loans $ 38,344 $ 35,720 $ 73,232 $ 71,758
Taxable investment securities 4,632 2,921 9,240 5,244
Tax-exempt investment securities 10,605 9,173 20,824 18,138
MBS 3,238 4,647 7,255 10,735
FHLB stock and equity investments 77 108 190 244
Other interest earning assets 204 17 232 32
Total interest income 57,100 52,586 110,973 106,151
Interest expense:        
Deposits 4,264 2,339 7,501 4,936
FHLB borrowings 224 1,817 590 3,725
Subordinated notes 1,000 2,423 1,998 4,818
Trust preferred subordinated debentures 471 349 827 700
Other borrowings 63 11 73 22
Total interest expense 6,022 6,939 10,989 14,201
Net interest income 51,078 45,647 99,984 91,950
Provision for (reversal of) credit losses (633) 1,677 (339) (8,472)
Net interest income after provision for credit losses 51,711 43,970 100,323 100,422
Noninterest income:        
Deposit services 6,496 6,609 13,124 12,734
Net gain (loss) on sale of securities AFS (2,177) 15 (3,720) 2,018
Gain on sale of loans 208 393 386 986
Trust fees 1,520 1,496 3,014 2,879
BOLI 720 645 1,411 1,271
Brokerage services 1,098 850 1,907 1,630
Other 1,232 925 3,700 3,038
Total noninterest income 9,097 10,933 19,822 24,556
Noninterest expense:        
Salaries and employee benefits 20,329 20,004 40,298 40,048
Net occupancy 3,654 3,606 7,310 7,166
Advertising, travel & entertainment 716 475 1,453 912
ATM expense 356 272 637 510
Professional fees 1,147 1,040 2,074 2,031
Software and data processing 1,739 1,406 3,370 2,718
Communications 509 612 1,012 1,137
FDIC insurance 477 435 949 889
Amortization of intangibles 586 730 1,208 1,496
Other 2,593 2,119 4,990 5,026
Total noninterest expense 32,106 30,699 63,301 61,933
Income before income tax expense 28,702 24,204 56,844 63,045
Income tax expense 3,297 2,887 6,443 7,637
Net income $ 25,405 $ 21,317 $ 50,401 $ 55,408
Earnings per common share - basic (in dollars per share) $ 0.79 $ 0.65 $ 1.56 $ 1.69
Earnings per common share - diluted (in dollars per share) 0.79 0.65 1.56 1.69
Cash dividends paid per common share (in dollars per share) $ 0.34 $ 0.33 $ 0.68 $ 0.65