XML 16 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest and dividend income        
Loans $ 27,940 $ 25,094 $ 75,192 $ 72,490
Securities and other 5,145 3,821 13,178 11,792
Total interest and dividend income 33,085 28,915 88,370 84,282
Interest expense        
Deposits 1,801 1,555 4,185 7,109
Borrowings 1,374 1,778 3,458 5,415
Total interest expense 3,175 3,333 7,643 12,524
Net interest income 29,910 25,582 80,727 71,758
Provision for credit losses 1,306 (174) 2,217 (1,428)
Net interest income after provision for credit losses 28,604 25,756 78,510 73,186
Non-interest income        
Trust and investment management fee income 3,548 3,868 11,131 11,335
Customer service fees 3,836 3,515 11,108 9,742
Gain on sales of securities, net 44 1,930 53 1,980
Mortgage banking income 315 850 1,427 4,973
Bank-owned life insurance income 496 494 1,501 1,510
Customer derivative income 58 341 213 837
Other income 526 352 1,660 726
Total non-interest income 8,823 11,350 27,093 31,103
Non-interest expense        
Salaries and employee benefits 12,242 11,743 35,757 35,275
Occupancy and equipment 4,458 4,029 13,254 12,251
Gain on sales of premises and equipment, net   (146) (65) (137)
Outside services 393 547 1,143 1,512
Professional services 421 491 1,122 1,200
Communication 204 188 617 707
Marketing 518 339 1,150 1,163
Amortization of intangible assets 233 233 699 707
Loss on debt extinguishment   1,768   1,768
Acquisition, conversion and other expenses 31 318 356 1,759
Other expenses 4,532 3,862 12,585 11,382
Total non-interest expense 23,032 23,372 66,618 67,587
Income before income taxes 14,395 13,734 38,985 36,702
Income tax expense 2,965 2,706 7,940 7,169
Net income $ 11,430 $ 11,028 $ 31,045 $ 29,533
Earnings per share:        
Basic (in dollars per share) $ 0.76 $ 0.74 $ 2.07 $ 1.97
Diluted (in dollars per share) $ 0.76 $ 0.73 $ 2.06 $ 1.96
Weighted average common shares outstanding:        
Basic (in shares) 15,057,598 14,982,766 15,028,963 14,960,753
Diluted (in shares) 15,113,355 15,050,756 15,100,280 15,034,582