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UNAUDITED QUARTERLY FINANCIAL INFORMATION | 12 Months Ended
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Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract] |
UNAUDITED QUARTERLY FINANCIAL INFORMATION | 27. UNAUDITED QUARTERLY FINANCIAL INFORMATION
(Dollars in thousands, except per share data) | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter |  | Full Year
2021 |  |  |  |  |  |  |  |  |
Total interest income | $ | 51,781 |  |  | $ | 53,959 |  |  | $ | 57,969 |  |  | $ | 55,053 |  |  | $ | 218,762 |
Total interest expense | 1,977 |  |  | 1,898 |  |  | 1,883 |  |  | 1,957 |  |  | 7,715 |
Net interest income | 49,804 |  |  | 52,061 |  |  | 56,086 |  |  | 53,096 |  |  | 211,047 |
Provision (credit) for credit losses | (821) |  |  | (3,443) |  |  | (2,635) |  |  | (7,692) |  |  | (14,591) |
Net interest income after provision (credit) for credit losses | 50,625 |  |  | 55,504 |  |  | 58,721 |  |  | 60,788 |  |  | 225,638 |
Other operating income | 10,711 |  |  | 10,530 |  |  | 10,253 |  |  | 11,566 |  |  | 43,060 |
Other operating expense | 37,846 |  |  | 41,433 |  |  | 41,345 |  |  | 42,422 |  |  | 163,046 |
Income before income taxes | 23,490 |  |  | 24,601 |  |  | 27,629 |  |  | 29,932 |  |  | 105,652 |
Income tax expense | 5,452 |  |  | 5,887 |  |  | 6,814 |  |  | 7,605 |  |  | 25,758 |
Net income | $ | 18,038 |  |  | $ | 18,714 |  |  | $ | 20,815 |  |  | $ | 22,327 |  |  | $ | 79,894 |
Per Common Share: |  |  |  |  |  |  |  |  |
Basic earnings per share | $ | 0.64 |  |  | $ | 0.66 |  |  | $ | 0.74 |  |  | $ | 0.80 |  |  | $ | 2.85 |
Diluted earnings per share | 0.64 |  |  | 0.66 |  |  | 0.74 |  |  | 0.80 |  |  | 2.83 |
Dividends declared per share | 0.23 |  |  | 0.24 |  |  | 0.24 |  |  | 0.25 |  |  | 0.96 |
Performance Ratios: |  |  |  |  |  |  |  |  |
Return on average assets (ROA) | 1.07 | % |  | 1.06 | % |  | 1.15 | % |  | 1.22 | % |  | 1.13 | %
Return on average equity (ROE) | 13.07 | % |  | 13.56 | % |  | 14.82 | % |  | 16.05 | % |  | 14.38 | %
Efficiency ratio | 62.54 | % |  | 66.20 | % |  | 62.32 | % |  | 65.61 | % |  | 64.16 | %
Net interest margin (NIM) | 3.19 | % |  | 3.16 | % |  | 3.31 | % |  | 3.08 | % |  | 3.18 | %
(Dollars in thousands, except per share data) | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter |  | Full Year
2020 |  |  |  |  |  |  |  |  |
Total interest income | $ | 53,814 |  |  | $ | 52,950 |  |  | $ | 51,753 |  |  | $ | 53,901 |  |  | $ | 212,418 |
Total interest expense | 5,984 |  |  | 3,691 |  |  | 2,633 |  |  | 2,427 |  |  | 14,735 |
Net interest income | 47,830 |  |  | 49,259 |  |  | 49,120 |  |  | 51,474 |  |  | 197,683 |
Provision (credit) for credit losses | 11,127 |  |  | 11,213 |  |  | 14,873 |  |  | 4,898 |  |  | 42,111 |
Net interest income after provision (credit) for credit losses | 36,703 |  |  | 38,046 |  |  | 34,247 |  |  | 46,576 |  |  | 155,572 |
Other operating income | 8,886 |  |  | 10,692 |  |  | 11,563 |  |  | 14,057 |  |  | 45,198 |
Other operating expense | 34,442 |  |  | 35,854 |  |  | 36,751 |  |  | 44,690 |  |  | 151,737 |
Income before income taxes | 11,147 |  |  | 12,884 |  |  | 9,059 |  |  | 15,943 |  |  | 49,033 |
Income tax expense | 2,821 |  |  | 2,967 |  |  | 2,200 |  |  | 3,772 |  |  | 11,760 |
Net income | $ | 8,326 |  |  | $ | 9,917 |  |  | $ | 6,859 |  |  | $ | 12,171 |  |  | $ | 37,273 |
Per Common Share |  |  |  |  |  |  |  |  |
Basic earnings per share | $ | 0.30 |  |  | $ | 0.35 |  |  | $ | 0.24 |  |  | $ | 0.43 |  |  | $ | 1.33 |
Diluted earnings per share | 0.29 |  |  | 0.35 |  |  | 0.24 |  |  | 0.43 |  |  | 1.32 |
Dividends declared per share | 0.23 |  |  | 0.23 |  |  | 0.23 |  |  | 0.23 |  |  | 0.92 |
Performance Ratios |  |  |  |  |  |  |  |  |
Return on average assets (ROA) | 0.55 | % |  | 0.61 | % |  | 0.42 | % |  | 0.74 | % |  | 0.58 | %
Return on average equity (ROE) | 6.21 | % |  | 7.34 | % |  | 4.99 | % |  | 8.87 | % |  | 6.85 | %
Efficiency ratio | 60.73 | % |  | 59.81 | % |  | 60.56 | % |  | 68.20 | % |  | 62.47 | %
Net interest margin (NIM) | 3.43 | % |  | 3.26 | % |  | 3.19 | % |  | 3.32 | % |  | 3.30 | %

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=124502072&loc=SL124452896-108306 + Details
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