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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income:        
Interest and fees on loans $ 62,162 $ 51,686 $ 180,886 $ 143,598
Interest and dividends on investment securities:        
Taxable investment securities 7,016 6,933 21,497 20,937
Tax-exempt investment securities 709 805 2,226 2,428
Dividends 0 0 0 21
Interest on deposits in other financial institutions 2,412 107 3,566 370
Dividend income on FHLB stock 113 138 369 265
Total interest income 72,412 59,669 208,544 167,619
Interest on deposits:        
Demand 460 217 1,234 473
Savings and money market 6,464 1,054 14,520 1,700
Time 11,268 1,092 26,464 2,051
Interest on short-term borrowings 0 660 1,139 662
Interest on long-term debt 2,292 1,281 6,329 3,455
Total interest expense 20,484 4,304 49,686 8,341
Net interest income 51,928 55,365 158,858 159,278
Provision (credit) for credit losses 4,874 362 11,045 (1,844)
Net interest income after provision (credit) for credit losses 47,054 55,003 147,813 161,122
Other operating income:        
Mortgage banking income 765 831 1,981 3,143
Service charges on deposit accounts 2,193 2,138 6,441 6,025
Other service charges and fees 5,203 4,955 15,182 14,053
Income from fiduciary activities 1,234 1,165 3,623 3,507
Net (losses) gains on sales of investment securities (135) 0 (135) 8,506
Income from bank-owned life insurance 379 167 2,855 (322)
Other 408 373 1,544 1,406
Total other operating income 10,047 9,629 31,491 36,318
Other operating expense:        
Salaries and employee benefits 19,015 22,778 61,886 66,089
Net occupancy 4,725 4,743 13,509 12,965
Equipment 1,112 1,085 2,990 3,242
Communication 809 712 2,378 2,262
Legal and professional services 2,359 2,573 7,714 8,115
Computer software 4,473 4,138 13,700 10,844
Advertising 968 1,150 2,843 3,450
Other 6,150 4,819 16,601 18,585
Total other operating expense 39,611 41,998 121,621 125,552
Income before income taxes 17,490 22,634 57,683 71,888
Income tax expense 4,349 5,919 13,880 18,141
Net income $ 13,141 $ 16,715 $ 43,803 $ 53,747
Per common share data:        
Basic earnings per common share (in dollars per share) $ 0.49 $ 0.61 $ 1.62 $ 1.96
Diluted earnings per common share (in dollars per share) $ 0.49 $ 0.61 $ 1.62 $ 1.94
Basic shares (in shares) 27,042,762 27,356,614 27,022,141 27,487,237
Diluted shares (in shares) 27,079,484 27,501,212 27,081,541 27,666,197