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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest income:      
Interest and fees on loans $ 258,583 $ 170,819 $ 147,898
Interest and dividends on investment securities 23,623 24,541 19,091
Other interest income 3,927 747 216
Total interest income 286,133 196,107 167,205
Interest expense:      
Deposits 107,361 22,994 8,118
Short-term borrowings 6,890 1,500 120
Long-term borrowings 6,167 4,241 4,237
Total interest expense 120,418 28,735 12,475
Net interest income 165,715 167,372 154,730
Provision (benefit) for credit losses 13,681 13,311 (8,336)
Net interest income after provision (benefit) for credit losses 152,034 154,061 163,066
Noninterest income:      
Service charges on deposits 4,625 5,889 5,571
Insurance income 6,708 6,364 5,750
Card Interchange Income 8,220 8,205 8,498
Investment advisory 10,955 11,493 11,672
Company owned life insurance 12,106 5,542 2,947
Investments in limited partnerships 1,783 1,293 2,081
Loan servicing 479 507 415
Income from derivative instruments, net 1,350 1,919 2,695
Net gain on sale of loans held for sale 566 1,227 2,950
Net (loss) gain on investment securities (3,576) (15) 71
Net (loss) gain on other assets (6) (16) 441
Net loss on tax credit investments (252) (815) (431)
Other 5,286 4,678 4,246
Total noninterest income 48,244 46,271 46,906
Noninterest expense:      
Salaries and employee benefits 71,889 69,633 60,893
Occupancy and equipment 14,798 15,103 14,371
Professional services 5,259 5,592 6,535
Computer and data processing 20,110 17,638 14,112
Supplies and postage 1,873 1,943 1,769
FDIC assessments 4,902 2,440 2,624
Advertising and promotions 1,926 2,013 1,704
Amortization of intangibles 910 986 1,060
Restructuring charges 114 1,619 111
Other 15,444 12,395 9,571
Total noninterest expense 137,225 129,362 112,750
Income (loss) before income taxes 63,053 70,970 97,222
Income tax expense 12,789 14,397 19,525
Net income (loss) 50,264 56,573 77,697
Preferred stock dividends 1,459 1,459 1,460
Net income available to common shareholders $ 48,805 $ 55,114 $ 76,237
Earnings per common share (Note 19):      
Basic $ 3.17 $ 3.58 $ 4.81
Diluted 3.15 3.56 4.78
Cash dividends declared per common share $ 1.2 $ 1.16 $ 1.08
Weighted average common shares outstanding:      
Basic 15,376 15,384 15,841
Diluted 15,475 15,471 15,937