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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE (LOSS) INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest and fees on loans:      
Taxable $ 95,505 $ 82,493 $ 83,683
Tax-exempt 5,084 3,957 3,736
Interest and dividends on investment securities:      
Taxable 8,234 5,464 5,334
Tax-exempt 2,066 1,731 1,178
Dividends 2 74 97
Interest on interest-bearing deposits in other banks 101 8 31
Interest on federal funds sold 342 330 66
Total interest income 111,334 94,057 94,125
Interest expense:      
Interest on deposits 12,632 7,310 11,739
Interest on short-term borrowings 1,103 78 848
Interest on long-term debt 76 260 702
Interest on subordinated debt 1,774 1,774 1,035
Total interest expense 15,585 9,422 14,324
Net interest income 95,749 84,635 79,801
(Credit) provision for loan losses (449) 1,750 7,400
Net interest income after provision (credit) for loan losses 96,198 82,885 72,401
Noninterest income:      
Mortgage banking income 511 975 1,595
Increase in cash surrender value of life insurance 1,020 889 774
Interest rate swap revenue 622 759 2,321
Net (losses) gains on equity investment securities (31) 2 (6)
Net (losses) gains on sale of investment securities available for sale (1,976)   918
Gain on sale of Visa Class B shares   12,153  
Total noninterest income 11,845 25,636 16,642
Noninterest expense:      
Salaries and employee benefits expense 33,553 29,736 30,135
Net occupancy and equipment expense 16,578 12,848 12,840
Amortization of intangible assets 363 491 606
Net gain on sale of other real estate owned (478) (210)  
Professional fees and outside services 2,715 2,137 2,091
FDIC insurance and assessments 1,300 1,117 873
Donations 1,381 1,435 1,357
Other expenses 7,265 7,450 6,966
Total noninterest expense 62,677 55,004 54,868
Income before income taxes 45,366 53,517 34,175
Provision for income tax expense 7,276 9,998 4,821
Net income 38,090 43,519 29,354
Other comprehensive (loss) income:      
Unrealized (loss) gain on investment securities available-for-sale (66,435) (11,487) 8,779
Reclassification adjustment for net loss (gain) on sales included in net income 1,976   (918)
Change in benefit plan liabilities 370 2,109 (1,398)
Change in derivative fair value (728) (322) 315
Other comprehensive (loss) income (64,817) (9,700) 6,778
Income tax (benefit) expense related to other comprehensive (loss) income (13,995) (2,037) 1,424
Other comprehensive (loss) income, net of income tax (benefit) expense (50,822) (7,663) 5,354
Comprehensive (loss) income $ (12,732) $ 35,856 $ 34,708
Per share data:      
Basic $ 5.31 $ 6.05 $ 4.02
Diluted $ 5.28 $ 6.02 $ 4.00
Average common shares outstanding:      
Basic 7,168,092 7,196,160 7,304,956
Diluted 7,211,643 7,235,303 7,337,843
Dividends declared $ 1.58 $ 1.50 $ 1.44
Service charges, fees, commissions and other      
Noninterest income:      
Revenue from contracts with customers $ 7,076 $ 6,169 $ 6,809
Merchant services income      
Noninterest income:      
Revenue from contracts with customers 964 879 824
Commission and fees on fiduciary activities      
Noninterest income:      
Revenue from contracts with customers 2,229 2,273 2,125
Wealth management income      
Noninterest income:      
Revenue from contracts with customers $ 1,430 $ 1,537 $ 1,282