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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income:        
Interest and fees on loans $ 71,218 $ 68,273 $ 212,227 $ 189,423
Interest and dividends on investment securities 6,086 5,703 18,582 17,637
Other interest income 607 724 4,303 2,526
Total interest income 77,911 74,700 235,112 209,586
Interest expense:        
Deposits 34,803 29,217 105,114 72,565
Short-term borrowings 858 2,235 3,345 6,596
Long-term borrowings 1,569 1,571 4,697 4,596
Total interest expense 37,230 33,023 113,156 83,757
Net interest income 40,681 41,677 121,956 125,829
Provision (benefit) for credit losses 3,104 966 (311) 8,410
Net interest income after provision (benefit) for credit losses 37,577 40,711 122,267 117,419
Noninterest income:        
Service charges on deposits 1,103 1,207 3,159 3,457
Insurance income 3 1,678 2,141 5,093
Card interchange income 1,900 2,094 5,810 6,140
Investment advisory 2,797 2,544 8,158 8,286
Company owned life insurance 1,404 1,027 4,062 2,974
Investments in limited partnerships 400 391 1,545 1,111
Loan servicing 88 135 421 395
Income from derivative instruments, net 212 219 763 1,418
Net gain on sale of loans held for sale 220 115 432 349
Net gain (loss) on other assets 138 (1) 13,633 31
Net loss on tax credit investments (170) (333) (139) (45)
Other 1,345 1,410 4,370 3,667
Total noninterest income 9,440 10,486 44,355 32,876
Noninterest expense:        
Salaries and employee benefits 15,879 18,160 48,967 54,047
Occupancy and equipment 3,370 3,791 10,570 11,059
Professional services 1,965 1,076 6,131 3,844
Computer and data processing 5,353 5,107 16,081 14,548
Supplies and postage 519 455 1,431 1,418
FDIC assessments 1,092 1,232 3,733 3,586
Advertising and promotions 371 744 1,108 1,556
Amortization of intangibles 112 225 443 689
Restructuring recoveries 0 (55) 0 (74)
Deposit-related charged-off items 410 188 19,987 978
Other 3,398 3,812 11,051 10,527
Total noninterest expense 32,469 34,735 119,502 102,178
Income (loss) before income taxes 14,548 16,462 47,120 48,117
Income tax expense 1,082 2,440 5,955 7,633
Net income 13,466 14,022 41,165 40,484
Preferred stock dividends 365 365 1,094 1,094
Net income available to common shareholders $ 13,101 $ 13,657 $ 40,071 $ 39,390
Earnings per common share (Note 2):        
Basic $ 0.85 $ 0.89 $ 2.6 $ 2.56
Diluted 0.84 0.88 2.57 2.55
Cash dividends declared per common share $ 0.3 $ 0.3 $ 0.9 $ 0.9