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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest income:    
Loans $ 54,776 $ 34,888
Taxable investment securities 5,712 4,608
Tax-exempt investment securities 13,916 10,219
MBS 4,329 4,017
FHLB stock and equity investments 245 113
Other interest earning assets 1,870 28
Total interest income 80,848 53,873
Interest expense:    
Deposits 19,906 3,237
FHLB borrowings 3,141 366
Subordinated notes 999 998
Trust preferred subordinated debentures 1,031 356
Other borrowings 2,418 10
Total interest expense 27,495 4,967
Net interest income 53,353 48,906
Provision for (reversal of) credit losses (40) 294
Net interest income after provision for credit losses 53,393 48,612
Noninterest income:    
Deposit services 6,422 6,628
Net gain (loss) on sale of securities AFS (2,146) (1,543)
Net gain on sale of equity securities 2,416 0
Gain on sale of loans 104 178
Trust fees 1,467 1,494
BOLI 1,675 691
Brokerage services 697 809
Other 1,398 2,468
Total noninterest income 12,033 10,725
Noninterest expense:    
Salaries and employee benefits 21,856 19,969
Net occupancy 3,734 3,656
Advertising, travel & entertainment 1,050 737
ATM expense 355 281
Professional fees 1,372 927
Software and data processing 2,055 1,631
Communications 327 503
FDIC insurance 544 472
Amortization of intangibles 478 622
Other 3,078 2,397
Total noninterest expense 34,849 31,195
Income before income tax expense 30,577 28,142
Income tax expense 4,543 3,146
Net income $ 26,034 $ 24,996
Earnings per common share - basic (in dollars per share) $ 0.83 $ 0.77
Earnings per common share - diluted (in dollars per share) 0.83 0.77
Cash dividends paid per common share (in dollars per share) $ 0.35 $ 0.34