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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income        
Loans, including fees $ 75,316 $ 65,073 $ 219,405 $ 184,232
Securities, taxable 3,140 2,109 8,241 5,971
Securities, tax-exempt 1,056 1,164 3,001 3,421
Interest-earning deposits 3,900 2,807 8,369 3,932
Total interest income 83,412 71,153 239,016 197,556
Interest expense        
Deposits 27,588 16,143 74,522 36,429
Short-term borrowings 2,219 693 5,631 2,066
Federal Home Loan Bank advances 3,218 3,270 9,868 8,115
Subordinated debt and other borrowings 2,095 2,086 6,270 6,049
Total interest expense 35,120 22,192 96,291 52,659
Net interest income 48,292 48,961 142,725 144,897
Provision for credit losses 1,100 3,300 5,900 5,900
Net interest income after provision for credit losses 47,192 45,661 136,825 138,997
Noninterest income:        
Mortgage banking income 3,325 2,779 8,690 5,829
Interest rate swap fees 389 937 2,494 2,722
Payroll services income 713 591 2,295 1,908
Earnings on bank owned life insurance 449 422 2,058 1,224
Other income 781 915 3,060 2,031
Total noninterest income 9,667 9,246 30,217 23,842
Noninterest expense        
Salaries and benefits 20,292 17,258 56,442 50,401
Occupancy 2,146 2,241 6,655 6,629
Furniture and equipment depreciation, rent and maintenance 938 894 2,790 2,594
Data processing costs 3,437 3,038 10,142 9,081
Charitable foundation contributions 0 404 707 416
Other expense 5,490 5,085 15,247 16,228
Total noninterest expense 32,303 28,920 91,983 85,349
Income before federal income tax expense 24,556 25,987 75,059 77,490
Federal income tax expense 4,938 5,132 15,092 15,303
Net income $ 19,618 $ 20,855 $ 59,967 $ 62,187
Basic earnings per share (in dollars per share) $ 1.22 $ 1.3 $ 3.72 $ 3.89
Diluted earnings per share (in dollars per share) $ 1.22 $ 1.3 $ 3.72 $ 3.89
Average basic shares outstanding (in shares) 16,138,320 16,018,419 16,126,706 16,006,058
Average diluted shares outstanding (in shares) 16,138,320 16,018,419 16,126,706 16,006,058
Service Charges on Deposit and Sweep Accounts [Member]        
Noninterest income:        
Noninterest revenue $ 1,753 $ 1,370 $ 4,976 $ 3,411
Credit and Debit Card [Member]        
Noninterest income:        
Noninterest revenue $ 2,257 $ 2,232 $ 6,644 $ 6,717