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SUPPLEMENTAL DATA (unaudited) (Tables)
12 Months Ended
Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Unaudited Quarterly Financial Data

The following table sets forth certain unaudited quarterly financial data for the periods indicated:

 

Selected 2021 Quarterly Data:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands, except per share data)

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

Interest income

 

$

38,239

 

 

$

39,686

 

 

$

40,067

 

 

$

42,075

 

Interest expense

 

 

6,446

 

 

 

5,841

 

 

 

4,856

 

 

 

4,863

 

Net interest income

 

 

31,793

 

 

 

33,845

 

 

 

35,211

 

 

 

37,212

 

Provision for loan losses

 

 

225

 

 

 

900

 

 

 

1,600

 

 

 

3,750

 

Wealth management fee income

 

 

12,131

 

 

 

13,034

 

 

 

13,860

 

 

 

13,962

 

Securities (losses)/gains, net

 

 

(265

)

 

 

42

 

 

 

(70

)

 

 

(139

)

Other income

 

 

5,954

 

 

 

4,602

 

 

 

3,991

 

 

 

5,141

 

Operating expenses

 

 

31,594

 

 

 

30,684

 

 

 

32,185

 

 

 

31,704

 

Income before income tax expense

 

 

17,794

 

 

 

19,939

 

 

 

19,207

 

 

 

20,722

 

Income tax expense

 

 

4,616

 

 

 

5,521

 

 

 

5,036

 

 

 

5,867

 

Net income

 

$

13,178

 

 

$

14,418

 

 

$

14,171

 

 

$

14,855

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share-basic

 

$

0.70

 

 

$

0.76

 

 

$

0.76

 

 

$

0.80

 

Earnings per share-diluted

 

 

0.67

 

 

 

0.74

 

 

 

0.74

 

 

 

0.78

 

 

 

Selected 2020 Quarterly Data:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands, except per share data)

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

Interest income

 

$

45,395

 

 

$

41,649

 

 

$

40,174

 

 

$

38,532

 

Interest expense

 

 

13,648

 

 

 

9,678

 

 

 

8,025

 

 

 

6,797

 

Net interest income

 

 

31,747

 

 

 

31,971

 

 

 

32,149

 

 

 

31,735

 

Provision for loan losses

 

 

20,000

 

 

 

4,900

 

 

 

5,150

 

 

 

2,350

 

Wealth management fee income

 

 

9,955

 

 

 

9,996

 

 

 

10,119

 

 

 

10,791

 

Securities gains/(losses), net

 

 

198

 

 

 

125

 

 

 

 

 

 

(42

)

Other income

 

 

4,364

 

 

 

2,505

 

 

 

10,092

 

 

 

3,657

 

Operating expenses

 

 

28,235

 

 

 

29,014

 

 

 

28,461

 

 

 

39,249

 

(Loss)/income before income tax (benefit)/expense

 

 

(1,971

)

 

 

10,683

 

 

 

18,749

 

 

 

4,542

 

Income tax (benefit)/expense

 

 

(3,344

)

 

 

2,441

 

 

 

5,202

 

 

 

1,512

 

Net income

 

$

1,373

 

 

$

8,242

 

 

$

13,547

 

 

$

3,030

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share-basic

 

$

0.07

 

 

$

0.44

 

 

$

0.72

 

 

$

0.16

 

Earnings per share-diluted

 

 

0.07

 

 

 

0.43

 

 

 

0.71

 

 

 

0.16