XML 13 R4.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest income:        
Interest and fees on loans $ 33,496 $ 26,405 $ 93,051 $ 76,697
Interest on securities -- taxable 1,765 1,610 5,597 3,539
Interest on securities -- tax-exempt 147 175 471 547
Interest on deposits in banks 697 1,532 2,044 2,548
Total interest income 36,105 29,722 101,163 83,331
Interest expense:        
Interest on deposits 2,758 380 5,406 1,288
Interest on short-term borrowings 0 0 136 1
Total interest expense 2,758 380 5,542 1,289
Net interest income 33,347 29,342 95,621 82,042
Provision for credit losses 1,109 685 6,956 3,156
Net interest income after provision for loan losses 32,238 28,657 88,665 78,886
Noninterest income:        
Loss on sale of securities 0 0 (21) 0
Divestiture gain 0 1,658 0 1,658
Other operating income 1,184 683 3,419 3,282
Total noninterest income 9,622 9,950 26,990 27,998
Noninterest expense:        
Salaries and employee benefits 12,673 12,081 36,954 35,270
Occupancy expense 1,271 1,188 3,715 3,622
Furniture and equipment expense 1,480 1,478 4,389 4,588
Service fees 2,350 1,635 6,653 5,701
Advertising and public relations 968 718 2,457 1,835
Professional fees 172 208 780 1,205
Amortization of intangibles 536 365 1,195 1,082
FDIC premiums and assessments 392 321 1,135 796
Merger expenses 0 0 2,393 0
Divestiture expenses 0 153 0 153
Other operating expense 3,071 2,998 8,726 8,134
Total noninterest expense 22,913 21,145 68,397 62,386
Income before income taxes 18,947 17,462 47,258 44,498
Income tax expense 4,307 4,111 11,022 10,419
Net income $ 14,640 $ 13,351 $ 36,236 $ 34,079
Earnings per common share        
Basic (in dollars per share) $ 0.78 $ 0.82 $ 2.03 $ 2.05
Diluted (in dollars per share) $ 0.79 $ 0.81 $ 2.06 $ 2.05
Weighted average shares outstanding        
Basic (in shares) 18,786,032 16,378,022 17,816,505 16,617,766
Diluted (in shares) 18,831,836 16,413,202 17,857,494 16,654,697
Fiduciary and Trust [Member]        
Noninterest income:        
Noninterest income $ 1,145 $ 932 $ 3,127 $ 2,897
Deposit Account [Member]        
Noninterest income:        
Noninterest income 3,729 3,689 10,359 10,859
Financial Service, Other [Member]        
Noninterest income:        
Noninterest income $ 3,564 $ 2,988 $ 10,106 $ 9,302