XML 13 R4.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest income:    
Interest and fees on loans $ 57,098 $ 36,298
Interest and dividends on investment securities 6,057 6,036
Other interest income 616 17
Total interest income 63,771 42,351
Interest expense:    
Deposits 19,294 1,705
Short-term borrowings 1,202 28
Long-term borrowings 1,460 1,060
Total interest expense 21,956 2,793
Net interest income 41,815 39,558
Provision for credit losses 4,214 2,319
Net interest income after provision (benefit) for credit losses 37,601 37,239
Noninterest income:    
Service charges on deposits 1,027 1,369
Insurance income 2,087 2,097
Card interchange income 1,939 1,952
Investment advisory 2,923 3,041
Company owned life insurance 994 833
Investments in limited partnerships 251 795
Loan servicing 146 109
Income from derivative instruments, net 496 519
Net gain (loss) on sale of loans held for sale 112 (91)
Net gain on other assets 39 0
Net loss on tax credit investments (201) (227)
Other 1,111 925
Total noninterest income 10,924 11,322
Noninterest expense:    
Salaries and employee benefits 18,133 16,616
Occupancy and equipment 3,730 3,756
Professional services 1,495 1,656
Computer and data processing 4,691 3,979
Supplies and postage 490 541
FDIC assessments 1,115 513
Advertising and promotions 314 380
Amortization of intangibles 234 254
Other 3,459 2,440
Total noninterest expense 33,661 30,135
Income (loss) before income taxes 14,864 18,426
Income tax expense 2,775 3,443
Net income (loss) 12,089 14,983
Preferred stock dividends 365 365
Net income available to common shareholders $ 11,724 $ 14,618
Earnings per common share (Note 3):    
Basic $ 0.76 $ 0.94
Diluted 0.76 0.93
Cash dividends declared per common share $ 0.30 $ 0.29