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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Interest and fees on loans:      
Taxable $ 83,683 $ 82,488 $ 74,352
Tax-exempt 3,736 4,309 3,666
Interest and dividends on investment securities:      
Taxable 5,334 4,435 3,799
Tax-exempt 1,178 1,878 2,621
Dividends 97 84 72
Interest on interest-bearing deposits in other banks 31 65 151
Interest on federal funds sold 66 122  
Total interest income 94,125 93,381 84,661
Interest expense:      
Interest on deposits 11,739 14,995 9,346
Interest on short-term borrowings 848 1,642 2,738
Interest on long-term debt 702 1,231 1,238
Interest on subordinated debt 1,035    
Total interest expense 14,324 17,868 13,322
Net interest income 79,801 75,513 71,339
Provision for loan losses 7,400 6,100 4,200
Net interest income after provision for loan losses 72,401 69,413 67,139
Noninterest income:      
Mortgage banking income 1,595 600 627
Increase in cash surrender value of life insurance 774 755 757
Interest rate swap revenue 2,321 1,790 103
Net gains (losses) on equity investment securities (6) 132 14
Net gains on sale of investment securities available-for-sale 918 23  
Net gain on sale of credit card loans     291
Total noninterest income 16,642 15,120 13,659
Noninterest expense:      
Salaries and employee benefits expense 30,135 31,374 28,407
Net occupancy and equipment expense 12,840 11,911 10,897
Amortization of intangible assets 606 730 881
Professional fees and outside services 2,091 1,758 2,414
FDIC insurance and assessments 873 651 1,093
Donations 1,357 1,441 1,339
Other expenses 6,966 7,777 7,456
Total noninterest expense 54,868 55,642 52,487
Income before income taxes 34,175 28,891 28,311
Income tax expense 4,821 3,155 3,391
Net income 29,354 25,736 24,920
Other comprehensive income :      
Unrealized gain (loss) on investment securities available-for-sale 8,779 5,109 (2,014)
Reclassification adjustment for net gain on sales included in net income (918) (23)  
Change in benefit plan liabilities (1,398) 639 (591)
Change in derivative fair value 315 441 246
Other comprehensive income (loss) 6,778 6,166 (2,359)
Income tax expense (benefit) 1,424 1,295 (496)
Other comprehensive income (loss), net of income taxes 5,354 4,871 (1,863)
Comprehensive income $ 34,708 $ 30,607 $ 23,648
Net income:      
Basic $ 4.02 $ 3.48 $ 3.37
Diluted $ 4.00 $ 3.47 $ 3.37
Average common shares outstanding:      
Basic 7,304,956 7,395,429 7,397,797
Diluted 7,337,843 7,412,369 7,402,900
Dividends declared $ 1.44 $ 1.37 $ 1.31
Service charges, fees and commissions      
Noninterest income:      
Revenue from contracts with customers $ 6,809 $ 7,236 $ 7,575
Merchant services income      
Noninterest income:      
Revenue from contracts with customers 824 973 809
Commission and fees on fiduciary activities      
Noninterest income:      
Revenue from contracts with customers 2,125 2,087 2,036
Wealth management income      
Noninterest income:      
Revenue from contracts with customers $ 1,282 $ 1,524 $ 1,447