XML 15 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest Income:        
Loans and leases, including fees $ 35,127 $ 31,674 $ 96,300 $ 88,015
Securities available-for-sale:        
Taxable 3,135 832 8,463 2,472
Tax-exempt 561 331 1,369 894
Federal funds sold and other earning assets 3,474 474 5,389 1,074
Total interest income 42,297 33,311 111,521 92,455
Interest Expense:        
Deposits 4,866 2,153 9,384 6,733
Borrowings 97 121 371 360
Subordinated debt 626 655 1,877 1,823
Total interest expense 5,589 2,929 11,632 8,916
Net interest income 36,708 30,382 99,889 83,539
Provision for loan and lease losses 974 1,149 3,230 1,211
Net interest income after provision for loan losses 35,734 29,233 96,659 82,328
Noninterest Income:        
Service charges on deposit accounts 1,611 1,220 4,376 3,278
Gain on sale of securities   45   45
Mortgage banking 170 994 1,475 3,238
Investment services 1,051 448 3,186 1,546
Insurance commissions 864 745 2,363 2,768
Interchange and debit card transaction fees, net 1,356 1,078 4,107 2,839
Other 1,198 1,779 5,083 3,429
Total noninterest income 6,250 6,309 20,590 17,143
Noninterest Expense:        
Salaries and employee benefits 16,317 13,594 47,036 36,666
Occupancy and equipment 3,167 2,536 9,020 7,170
FDIC insurance 705 525 2,022 1,266
Other real estate and loan related expenses 565 407 1,930 1,514
Advertising and marketing 288 235 985 654
Data processing and technology 1,872 1,753 5,185 4,642
Professional services 822 810 2,809 2,300
Amortization of intangibles 650 711 1,919 1,597
Merger related and restructuring expenses 87 464 607 939
Other 2,757 2,274 7,361 6,822
Total noninterest expenses 27,230 23,309 78,874 63,570
Income before income tax expense 14,754 12,233 38,375 35,901
Income tax expense 3,211 2,633 8,357 7,767
Net income $ 11,543 $ 9,600 $ 30,018 $ 28,134
Earnings per common share:        
Basic (in dollars per share) $ 0.69 $ 0.62 $ 1.79 $ 1.85
Diluted (in dollars per share) $ 0.68 $ 0.61 $ 1.78 $ 1.84
Weighted average common shares outstanding:        
Basic (in shares) 16,749,255 15,557,528 16,734,298 15,192,919
Diluted (in shares) 16,872,022 15,691,126 16,867,970 15,312,755