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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income:        
Interest and fees on loans $ 64,422 $ 60,455 $ 127,241 $ 118,724
Interest and dividends on investment securities:        
Taxable investment securities 8,466 7,145 15,677 14,481
Tax-exempt investment securities 598 727 1,253 1,517
Interest on deposits in other financial institutions 2,203 877 5,814 1,154
Dividend income on FHLB stock 151 120 257 256
Total interest income 75,840 69,324 150,242 136,132
Interest on deposits:        
Demand 490 411 989 774
Savings and money market 8,977 4,670 17,420 8,056
Time 12,173 8,932 25,163 15,196
Interest on short-term borrowings 1 378 1 1,139
Interest on long-term debt 2,278 2,199 4,561 4,037
Total interest expense 23,919 16,590 48,134 29,202
Net interest income 51,921 52,734 102,108 106,930
Provision for credit losses 2,239 4,319 6,175 6,171
Net interest income after provision for credit losses 49,682 48,415 95,933 100,759
Other operating income:        
Mortgage banking income 1,040 690 1,653 1,216
Service charges on deposit accounts 2,135 2,137 4,238 4,248
Other service charges and fees 5,869 4,994 11,130 9,979
Income from fiduciary activities 1,449 1,068 2,884 2,389
Income from bank-owned life insurance 1,234 1,185 2,756 2,476
Other 394 361 704 1,136
Total other operating income 12,121 10,435 23,365 21,444
Other operating expense:        
Salaries and employee benefits 21,246 20,848 41,981 42,871
Net occupancy 4,597 4,310 9,197 8,784
Computer software 4,381 4,621 8,668 9,227
Legal and professional services 2,506 2,469 4,826 5,355
Equipment 995 932 2,005 1,878
Advertising 901 942 1,815 1,875
Communication 657 791 1,494 1,569
Other 5,868 4,990 11,741 10,451
Total other operating expense 41,151 39,903 81,727 82,010
Income before income taxes 20,652 18,947 37,571 40,193
Income tax expense 4,835 4,472 8,809 9,531
Net income $ 15,817 $ 14,475 $ 28,762 $ 30,662
Per common share data:        
Basic earnings per share (in dollars per share) $ 0.58 $ 0.54 $ 1.06 $ 1.14
Diluted earnings per share (in dollars per share) $ 0.58 $ 0.53 $ 1.06 $ 1.13
Basic weighted average shares outstanding (in shares) 27,053,549 27,024,043 27,050,037 27,011,659
Diluted weighted average shares outstanding (in shares) 27,116,349 27,071,478 27,106,267 27,090,258