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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest income:        
Interest and fees on loans $ 70,676 $ 64,052 $ 141,009 $ 121,150
Interest and dividends on investment securities 6,401 5,877 12,496 11,934
Other interest income 1,711 1,186 3,696 1,802
Total interest income 78,788 71,115 157,201 134,886
Interest expense:        
Deposits 35,073 24,054 70,311 43,348
Short-term borrowings 958 3,159 2,487 4,361
Long-term borrowings 1,564 1,565 3,128 3,025
Total interest expense 37,595 28,778 75,926 50,734
Net interest income 41,193 42,337 81,275 84,152
Provision (benefit) for credit losses 2,041 3,230 (3,415) 7,444
Net interest income after provision (benefit) for credit losses 39,152 39,107 84,690 76,708
Noninterest income:        
Service charges on deposits 979 1,223 2,056 2,250
Insurance income 4 1,328 2,138 3,415
Card interchange income 2,008 2,107 3,910 4,046
Investment advisory 2,779 2,819 5,361 5,742
Company owned life insurance 1,360 953 2,658 1,947
Investments in limited partnerships 803 469 1,145 720
Loan servicing 158 114 333 260
Income from derivative instruments, net 377 703 551 1,199
Net gain on sale of loans held for sale 124 122 212 234
Net gain (loss) on other assets 13,508 (7) 13,495 32
Net gain on tax credit investments 406 489 31 288
Other 1,508 1,146 3,025 2,257
Total noninterest income 24,014 11,466 34,915 22,390
Noninterest expense:        
Salaries and employee benefits 15,748 17,754 33,088 35,887
Occupancy and equipment 3,448 3,538 7,200 7,268
Professional services 1,794 1,273 4,166 2,768
Computer and data processing 5,342 4,750 10,728 9,441
Supplies and postage 437 473 912 963
FDIC assessments 1,346 1,239 2,641 2,354
Advertising and promotions 440 498 737 812
Amortization of intangibles 114 230 331 464
Restructuring recoveries 0 (19) 0 (19)
Deposit-related charged-off items 398 467 19,577 790
Other 3,953 3,579 7,653 6,715
Total noninterest expense 33,020 33,782 87,033 67,443
Income (loss) before income taxes 30,146 16,791 32,572 31,655
Income tax expense 4,517 2,418 4,873 5,193
Net income 25,629 14,373 27,699 26,462
Preferred stock dividends 364 364 729 729
Net income available to common shareholders $ 25,265 $ 14,009 $ 26,970 $ 25,733
Earnings per common share (Note 2):        
Basic $ 1.64 $ 0.91 $ 1.75 $ 1.68
Diluted 1.62 0.91 1.73 1.67
Cash dividends declared per common share $ 0.3 $ 0.3 $ 0.6 $ 0.6