XML 14 R4.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income:    
Loans $ 68,211 $ 54,776
Taxable investment securities 6,967 5,712
Tax-exempt investment securities 11,088 13,916
MBS 10,119 4,329
FHLB stock and equity investments 333 245
Other interest earning assets 6,040 1,870
Total interest income 102,758 80,848
Interest expense:    
Deposits 38,198 19,906
FHLB borrowings 5,950 3,141
Subordinated notes 956 999
Trust preferred subordinated debentures 1,175 1,031
Other borrowings 3,131 2,418
Total interest expense 49,410 27,495
Net interest income 53,348 53,353
Provision for (reversal of) credit losses 58 (40)
Net interest income after provision for credit losses 53,290 53,393
Noninterest income:    
Deposit services 5,985 6,422
Net gain (loss) on sale of securities AFS (18) (2,146)
Net gain on sale of equity securities 0 2,416
Gain (loss) on sale of loans (436) 104
Trust fees 1,336 1,467
BOLI 784 1,675
Brokerage services 1,014 697
Other 1,059 1,398
Total noninterest income 9,724 12,033
Noninterest expense:    
Salaries and employee benefits 23,113 21,856
Net occupancy 3,362 3,734
Advertising, travel & entertainment 950 1,050
ATM expense 325 355
Professional fees 1,154 1,372
Software and data processing 2,856 2,055
Communications 449 327
FDIC insurance 943 544
Amortization of intangibles 337 478
Other 3,392 3,078
Total noninterest expense 36,881 34,849
Income before income tax expense 26,133 30,577
Income tax expense 4,622 4,543
Net income $ 21,511 $ 26,034
Earnings per common share - basic (in dollars per share) $ 0.71 $ 0.83
Earnings per common share - diluted (in dollars per share) 0.71 0.83
Cash dividends paid per common share (in dollars per share) $ 0.36 $ 0.35