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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income:        
Interest and fees on loans $ 38,872 $ 36,393 $ 75,170 $ 73,452
Interest and dividends on investment securities 6,294 4,498 12,330 8,685
Other interest income 110 61 127 88
Total interest income 45,276 40,952 87,627 82,225
Interest expense:        
Deposits 2,366 2,165 4,071 4,400
Short-term borrowings 252 0 280 119
Long-term borrowings 1,061 1,055 2,121 2,117
Total interest expense 3,679 3,220 6,472 6,636
Net interest income 41,597 37,732 81,155 75,589
Provision (benefit) for credit losses 563 (4,622) 2,882 (6,603)
Net interest income after provision (benefit) for credit losses 41,034 42,354 78,273 82,192
Noninterest income:        
Service charges on deposits 1,437 1,287 2,806 2,579
Insurance income 1,234 1,147 3,331 2,543
Card interchange income 2,103 2,194 4,055 4,152
Investment advisory 2,906 2,886 5,947 5,658
Company owned life insurance 869 693 1,702 1,350
Investments in limited partnerships 242 238 1,037 1,093
Loan servicing 135 91 244 188
Income (loss) from derivative instruments, net 645 (592) 1,164 1,283
Net gain on sale of loans held for sale 828 790 737 1,868
Net(loss) gain on investment securities (15) (3) (15) 71
Net gain on other assets 7 153 7 148
Net loss on tax credit investments (92) 276 (319) 191
Other 1,061 1,030 1,986 2,025
Total noninterest income 11,360 10,190 22,682 23,149
Noninterest expense:        
Salaries and employee benefits 16,966 14,519 33,582 28,984
Occupancy and equipment 4,015 3,286 7,771 6,668
Professional services 1,269 1,603 2,925 3,498
Computer and data processing 4,573 3,460 8,552 6,581
Supplies and postage 469 430 1,010 914
FDIC assessments 621 480 1,134 1,245
Advertising and promotions 406 436 786 760
Amortization of intangibles 249 266 503 537
Restructuring Charges 1,269 0 1,269 0
Other 3,050 2,464 5,490 4,497
Total noninterest expense 32,887 26,944 63,022 53,684
Income (loss) before income taxes 19,507 25,600 37,933 51,657
Income tax expense 3,859 5,400 7,302 10,747
Net income (loss) 15,648 20,200 30,631 40,910
Preferred stock dividends 365 366 729 731
Net income available to common shareholders $ 15,283 $ 19,834 $ 29,902 $ 40,179
Earnings per common share (Note 4):        
Basic $ 1.00 $ 1.25 $ 1.94 $ 2.53
Diluted 0.99 1.25 1.93 2.52
Cash dividends declared per common share $ 0.29 $ 0.27 $ 0.58 $ 0.54