XML 13 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
INTEREST INCOME        
Interest and fees on loans and leases $ 38,484 $ 29,590 $ 107,764 $ 87,755
Interest and dividends on investment securities:        
U.S. Treasury and government agencies 2,873 285 6,738 688
State and political subdivision obligations, tax-exempt 392 279 1,107 834
Other securities 509 277 1,430 870
Total Interest and Dividends on Investment Securities 3,774 841 9,275 2,392
Interest on other interest-bearing balances 12 1 33 5
Interest on federal funds sold 736 308 1,786 485
Total Interest Income 43,006 30,740 118,858 90,637
INTEREST EXPENSE        
Interest on deposits 2,836 2,909 7,149 8,791
Interest on short-term borrowings 0 133 0 539
Interest on long-term and subordinated debt 761 704 2,453 2,111
Total Interest Expense 3,597 3,746 9,602 11,441
Net Interest Income 39,409 26,994 109,256 79,196
Provisions 1,550 425 3,775 2,575
Net Interest Income After Provision for Loan and Lease Losses 37,859 26,569 105,481 76,621
NONINTEREST INCOME        
Net gain on sales of SBA loans 152 105 262 560
Earnings from cash surrender value of life insurance 250 74 758 223
Net gain on sales of investment activities 0 79 0 79
Other income 1,518 596 4,366 2,485
Total Noninterest Income 5,963 5,509 16,943 15,873
NONINTEREST EXPENSE        
Salaries and employee benefits 13,583 10,342 39,167 29,873
Software licensing and utilization 1,804 1,551 5,731 4,493
Occupancy expense, net 1,634 1,318 5,088 4,115
Equipment expense 1,121 745 3,244 2,237
Shares tax 920 498 2,626 1,022
Legal and professional fees 528 610 1,861 1,591
ATM/card processing 518 249 1,605 696
Intangible amortization 514 266 1,516 823
FDIC Assessment 254 461 1,351 1,364
Charitable contributions qualifying for State tax credits 0 0 190 635
Mortgage banking profit-sharing expense 0 1,140 178 2,005
Gain on sale or write-down of foreclosed assets, net (57) (7) (88) (26)
Merger and acquisition expense 0 198 0 720
Post-acquisition restructuring expense 0 0 329 0
Other expenses 3,896 2,648 11,577 7,485
Total Noninterest Expense 24,715 20,019 74,375 57,033
INCOME BEFORE PROVISION FOR INCOME TAXES 19,107 12,059 48,049 35,461
Provision for income taxes 3,626 2,272 8,962 6,749
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS $ 15,481 $ 9,787 $ 39,087 $ 28,712
PER COMMON SHARE DATA:        
Basic Earnings Per Common Share (in dollars per share) $ 0.97 $ 0.86 $ 2.45 $ 2.85
Diluted earnings per common share (in dollars per share) 0.97 0.86 2.45 2.85
Cash Dividends Declared (in dollars per share) $ 0.20 $ 0.20 $ 0.60 $ 0.59
Income from fiduciary and wealth management activities        
NONINTEREST INCOME        
Non-interest Income $ 1,729 $ 618 $ 3,986 $ 1,716
ATM debit card interchange income        
NONINTEREST INCOME        
Non-interest Income 1,078 630 3,263 1,854
Service charges on deposits        
NONINTEREST INCOME        
Non-interest Income 483 223 1,617 552
Mortgage banking income        
NONINTEREST INCOME        
Non-interest Income 536 3,162 1,370 8,382
Mortgage hedging income        
NONINTEREST INCOME        
Non-interest Income $ 217 $ 22 $ 1,321 $ 22