XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income:        
Interest and fees on loans $ 60,455 $ 46,963 $ 118,724 $ 91,912
Interest and dividends on investment securities:        
Taxable investment securities 7,145 7,035 14,481 14,004
Tax-exempt investment securities 727 807 1,517 1,623
Dividends 0 0 0 21
Interest on deposits in other financial institutions 877 191 1,154 263
Dividend income on FHLB stock 120 68 256 127
Total interest income 69,324 55,064 136,132 107,950
Interest on deposits:        
Demand 411 144 774 256
Savings and money market 4,670 317 8,056 646
Time 8,932 490 15,196 959
Interest on short-term borrowings 378 2 1,139 2
Interest on long-term debt 2,199 1,133 4,037 2,174
Total interest expense 16,590 2,086 29,202 4,037
Net interest income 52,734 52,978 106,930 103,913
Provision (credit) for credit losses 4,319 989 6,171 (2,206)
Net interest income after provision (credit) for credit losses 48,415 51,989 100,759 106,119
Other operating income:        
Mortgage banking income 690 1,140 1,216 2,312
Service charges on deposit accounts 2,137 2,026 4,248 3,887
Other service charges and fees 4,994 4,610 9,979 9,098
Income from fiduciary activities 1,068 1,188 2,389 2,342
Net gain on sales of investment securities 0 8,506 0 8,506
Income from bank-owned life insurance 1,185 (1,028) 2,476 (489)
Other 361 696 1,136 1,033
Total other operating income 10,435 17,138 21,444 26,689
Other operating expense:        
Salaries and employee benefits 20,848 22,369 42,871 43,311
Net occupancy 4,310 4,448 8,784 8,222
Equipment 932 1,075 1,878 2,157
Communication 791 744 1,569 1,550
Legal and professional services 2,469 2,916 5,355 5,542
Computer software 4,621 3,624 9,227 6,706
Advertising 942 1,150 1,875 2,300
Other 4,990 9,023 10,451 13,766
Total other operating expense 39,903 45,349 82,010 83,554
Income before income taxes 18,947 23,778 40,193 49,254
Income tax expense 4,472 6,184 9,531 12,222
Net income $ 14,475 $ 17,594 $ 30,662 $ 37,032
Per common share data:        
Basic earnings per common share (in dollars per share) $ 0.54 $ 0.64 $ 1.14 $ 1.34
Diluted earnings per common share (in dollars per share) $ 0.53 $ 0.64 $ 1.13 $ 1.33
Basic shares (in shares) 27,024,043 27,516,284 27,011,659 27,553,629
Diluted shares (in shares) 27,071,478 27,676,619 27,090,258 27,759,187