XML 13 R4.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest income:        
Interest and fees on loans $ 64,052 $ 38,872 $ 121,150 $ 75,170
Interest and dividends on investment securities 5,877 6,294 11,934 12,330
Other interest income 1,186 110 1,802 127
Total interest income 71,115 45,276 134,886 87,627
Interest expense:        
Deposits 24,054 2,366 43,348 4,071
Short-term borrowings 3,159 252 4,361 280
Long-term borrowings 1,565 1,061 3,025 2,121
Total interest expense 28,778 3,679 50,734 6,472
Net interest income 42,337 41,597 84,152 81,155
Provision for credit losses 3,230 563 7,444 2,882
Net interest income after provision for credit losses 39,107 41,034 76,708 78,273
Noninterest income:        
Service charges on deposits 1,223 1,437 2,250 2,806
Insurance income 1,328 1,234 3,415 3,331
Card interchange income 2,107 2,103 4,046 4,055
Investment advisory 2,819 2,906 5,742 5,947
Company owned life insurance 953 869 1,947 1,702
Investments in limited partnerships 469 242 720 1,037
Loan servicing 114 135 260 244
Income from derivative instruments, net 703 645 1,199 1,164
Net gain on sale of loans held for sale 122 828 234 737
Net (loss) gain on investment securities 0 (15) 0 (15)
Net (loss) gain on other assets (7) 7 32 7
Net gain (loss) on tax credit investments 489 (92) 288 (319)
Other 1,146 1,061 2,257 1,986
Total noninterest income 11,466 11,360 22,390 22,682
Noninterest expense:        
Salaries and employee benefits 17,754 16,966 35,887 33,582
Occupancy and equipment 3,538 4,015 7,268 7,771
Professional services 1,273 1,269 2,768 2,925
Computer and data processing 4,750 4,573 9,441 8,552
Supplies and postage 473 469 963 1,010
FDIC assessments 1,239 621 2,354 1,134
Advertising and promotions 498 406 812 786
Amortization of intangibles 230 249 464 503
Restructuring (recoveries) charges (19) 1,269 (19) 1,269
Other 4,046 3,050 7,505 5,490
Total noninterest expense 33,782 32,887 67,443 63,022
Income (loss) before income taxes 16,791 19,507 31,655 37,933
Income tax expense 2,418 3,859 5,193 7,302
Net income (loss) 14,373 15,648 26,462 30,631
Preferred stock dividends 364 365 729 729
Net income available to common shareholders $ 14,009 $ 15,283 $ 25,733 $ 29,902
Earnings per common share (Note 3):        
Basic $ 0.91 $ 1.00 $ 1.68 $ 1.94
Diluted 0.91 0.99 1.67 1.93
Cash dividends declared per common share $ 0.3 $ 0.29 $ 0.6 $ 0.58