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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Interest and dividend income      
Loans $ 163,846 $ 149,420 $ 107,797
Securities and other 24,878 24,762 18,729
Total interest and dividend income 188,724 174,182 126,526
Interest expense      
Deposits 61,696 38,232 7,344
Borrowings 13,189 18,275 5,501
Total interest expense 74,885 56,507 12,845
Net interest income 113,839 117,675 113,681
Provision for credit losses on securities available for sale 1,171    
Provision for credit losses on loans 955 2,908 2,904
Net interest income after provision for credit losses 111,713 114,767 110,777
Non-interest income      
Trust and investment management fee income 15,701 14,283 14,573
Customer service fees 14,839 15,168 14,791
Gain on sales of securities, net 50 34 53
Mortgage banking income 2,093 1,587 1,580
Bank-owned life insurance income 2,304 2,699 2,000
Customer derivative income 928 409 310
Other income 973 893 1,340
Total non-interest income 36,888 35,073 34,647
Non-interest expense      
Salaries and employee benefits 54,849 52,516 48,657
Occupancy and equipment 13,788 13,386 13,283
Depreciation 4,196 4,198 4,292
(Gain) loss on sales of premises and equipment, net (192) 182 10
Outside services 1,558 1,671 1,578
Professional services 1,422 1,586 1,612
Communication 759 697 880
Marketing 2,014 1,696 1,561
Amortization of intangible assets 932 932 932
FDIC assessment 1,808 1,743 1,019
Acquisition, conversion and other expenses 20 283 266
Provision for unfunded commitments (775) (85) 1,758
Other expenses 15,608 13,918 14,731
Total non-interest expense 95,987 92,723 90,579
Income before income taxes 52,614 57,117 54,845
Income tax expense 9,070 12,265 11,288
Net income $ 43,544 $ 44,852 $ 43,557
Earnings per share:      
Basic (in dollars per share) $ 2.86 $ 2.96 $ 2.90
Diluted (in dollars per share) $ 2.84 $ 2.95 $ 2.88
Weighted average common shares outstanding:      
Basic (in shares) 15,240,446 15,142,188 15,040,162
Diluted (in shares) 15,310,721 15,195,236 15,111,961