XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.3
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income:        
Interest and fees on loans $ 65,469 $ 62,162 $ 192,710 $ 180,886
Interest and dividends on investment securities:        
Taxable investment securities 8,975 7,016 24,652 21,497
Tax-exempt investment securities 551 709 1,804 2,226
Interest on deposits in other financial institutions 2,775 2,412 8,589 3,566
Dividend income on FHLB stock 127 113 384 369
Total interest income 77,897 72,412 228,139 208,544
Interest on deposits:        
Demand 484 460 1,473 1,234
Savings and money market 10,235 6,464 27,655 14,520
Time 11,040 11,268 36,203 26,464
Interest on short-term borrowings 0 0 1 1,139
Interest on long-term debt 2,287 2,292 6,848 6,329
Total interest expense 24,046 20,484 72,180 49,686
Net interest income 53,851 51,928 155,959 158,858
Provision for credit losses 2,833 4,874 9,008 11,045
Net interest income after provision for credit losses 51,018 47,054 146,951 147,813
Other operating income:        
Mortgage banking income 822 765 2,475 1,981
Service charges on deposit accounts 2,167 2,193 6,405 6,441
Other service charges and fees 5,947 5,203 17,077 15,182
Income from fiduciary activities 1,447 1,234 4,331 3,623
Income from bank-owned life insurance 1,897 379 4,653 2,855
Net loss on sales of investment securities 0 (135) 0 (135)
Other 454 408 1,158 1,544
Total other operating income 12,734 10,047 36,099 31,491
Other operating expense:        
Salaries and employee benefits 22,299 19,015 64,280 61,886
Net occupancy 4,612 4,725 13,809 13,509
Computer software 4,590 4,473 13,258 13,700
Legal and professional services 2,460 2,359 7,286 7,714
Equipment 972 1,112 2,977 2,990
Advertising 889 968 2,704 2,843
Communication 740 809 2,234 2,378
Other 10,125 6,150 21,866 16,601
Total other operating expense 46,687 39,611 128,414 121,621
Income before income taxes 17,065 17,490 54,636 57,683
Income tax expense 3,760 4,349 12,569 13,880
Net income $ 13,305 $ 13,141 $ 42,067 $ 43,803
Per common share data:        
Basic earnings per share (in dollars per share) $ 0.49 $ 0.49 $ 1.55 $ 1.62
Diluted earnings per share (in dollars per share) $ 0.49 $ 0.49 $ 1.55 $ 1.62
Basic weighted average shares outstanding (in shares) 27,064,035 27,042,762 27,054,737 27,022,141
Diluted weighted average shares outstanding (in shares) 27,194,625 27,079,484 27,137,985 27,081,541