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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 $ 37,568 $ 31,185 $ 102,724 $ 92,610
Taxable interest on investments 5,756 5,157 17,395 13,362
Nontaxable interest on investments 790 756 2,324 2,247
Dividend income 137 99 349 306
Other interest income 330 182 677 508
Total interest income 44,581 37,379 123,469 109,033
Interest Expense        
Interest on deposits 5,442 1,973 9,785 5,957
Interest on borrowings 787 122 1,372 454
Interest on subordinated debentures 539 538 1,600 1,983
Total interest expense 6,768 2,633 12,757 8,394
Net interest income 37,813 34,746 110,712 100,639
Provision (credit) for credit losses 2,764 939 4,034 (4,420)
Net interest income after provision (credit) for credit losses 35,049 33,807 106,678 105,059
Non-Interest Income        
Brokerage and insurance commissions 1,003 993 3,269 2,885
Mortgage banking income, net 635 1,913 3,186 11,620
Bank-owned life insurance 374 589 1,519 1,774
Net loss on sale of securities 0 0 (9) 0
Other income 1,232 955 3,032 2,569
Total non-interest income 9,954 11,099 30,920 37,634
Non-Interest Expense        
Salaries and employee benefits 15,849 15,902 46,757 45,742
Furniture, equipment and data processing 3,305 2,980 9,639 8,954
Net occupancy costs 1,765 1,813 5,715 5,569
Debit card expense 1,210 1,106 3,410 3,166
Consulting and professional fees 814 792 3,114 2,652
Regulatory assessments 575 522 1,745 1,512
Amortization of core deposit intangible assets 156 163 469 491
Other real estate owned and collection costs (recoveries), net 56 60 9 (156)
Other expenses 3,361 2,925 8,998 8,822
Total non-interest expense 27,091 26,263 79,856 76,752
Income before income tax expense 17,912 18,643 57,742 65,941
Income Tax Expense 3,645 4,003 11,654 13,418
Net Income $ 14,267 $ 14,640 $ 46,088 $ 52,523
Per Share Data        
Basic earnings per share $ 0.97 $ 0.98 $ 3.13 $ 3.51
Diluted earnings per share 0.97 0.97 3.12 3.49
Cash dividends declared per share $ 0.40 $ 0.36 $ 1.20 $ 1.08
Weighted average number of common shares outstanding 14,619,460 14,931,056 14,670,450 14,930,387
Diluted weighted average number of common shares outstanding 14,675,332 14,999,013 14,728,349 14,996,541
Debit card income        
Non-Interest Income        
Revenue $ 3,234 $ 3,278 $ 9,371 $ 9,126
Service charges on deposit accounts        
Non-Interest Income        
Revenue 1,941 1,744 5,705 4,800
Income from fiduciary services        
Non-Interest Income        
Revenue $ 1,535 $ 1,627 $ 4,847 $ 4,860