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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest income      
Interest and fees on loans $ 91,612 $ 84,674 $ 84,331
Interest on investment securities 16,342 14,503 14,785
Interest on federal funds sold and due from banks 399 461 1,321
Total interest income 108,353 99,638 100,437
Interest expense      
Interest on interest-bearing transaction accounts 172 186 347
Interest on savings accounts 94 68 70
Interest on money market accounts 1,520 2,009 3,439
Interest on time accounts 246 554 595
Interest on borrowings and other obligations 9 4 77
Interest on subordinated debentures 1,361 158 229
Total interest expense 3,402 2,979 4,757
Net interest income 104,951 96,659 95,680
(Reversal of) provision for credit losses on loans (1,449) 4,594 900
(Reversal of) provision for credit losses on unfunded loan commitments (992) 1,570 129
Net interest income after (reversal of) provision for credit losses and unfunded loan commitments 107,392 90,495 94,651
Non-interest income      
Earnings from bank-owned life insurance, net 2,194 973 1,196
Dividends on FHLB stock 760 654 799
(Losses) gains on investment securities, net (16) 915 55
Other income 1,145 1,166 1,345
Total non-interest income 10,132 8,550 9,084
Non-interest expense      
Salaries and employee benefits 41,939 34,393 34,253
Occupancy and equipment 7,302 6,943 6,143
Data processing 5,139 3,184 3,717
Professional services 4,974 2,181 2,132
Depreciation and amortization 1,740 2,149 2,228
Information technology 1,550 1,050 1,065
Amortization of core deposit intangible 1,135 853 887
Directors' expense 957 713 735
Federal Deposit Insurance Corporation insurance 889 474 361
Charitable contributions 587 1,034 508
Other expense 6,426 5,484 5,812
Total non-interest expense 72,638 58,458 57,841
Income before provision for income taxes 44,886 40,587 45,894
Provision for income taxes 11,658 10,345 11,653
Net income $ 33,228 $ 30,242 $ 34,241
Net income per common share:      
Basic (in dollars per share) $ 2.32 $ 2.24 $ 2.51
Diluted (in dollars per share) $ 2.30 $ 2.22 $ 2.48
Weighted average common shares:      
Basic (in shares) 14,340 13,525 13,620
Diluted (in shares) 14,422 13,617 13,794
Comprehensive income:      
Net income $ 33,228 $ 30,242 $ 34,241
Other comprehensive (loss) income:      
Change in net unrealized gains or losses on available-for-sale securities (21,281) 11,891 11,839
Reclassification adjustment for losses (gains) on available-for-sale securities in net income 16 (915) (55)
Amortization of net unrealized losses on securities transferred from available-for-sale to held-to-maturity 493 524 445
Other comprehensive (loss) income, before tax (20,772) 11,500 12,229
Deferred tax (benefit) expense (6,147) 3,402 3,624
Other comprehensive (loss) income, net of tax (14,625) 8,098 8,605
Comprehensive income 18,603 38,340 42,846
Fiduciary and Trust      
Non-interest income      
Wealth management and trust services, debit card interchange fees net, service charges on deposit accounts, and merchant interchange fees net 2,222 1,851 1,907
Debit Card      
Non-interest income      
Wealth management and trust services, debit card interchange fees net, service charges on deposit accounts, and merchant interchange fees net 1,812 1,438 1,586
Deposit Account      
Non-interest income      
Wealth management and trust services, debit card interchange fees net, service charges on deposit accounts, and merchant interchange fees net 1,593 1,314 1,865
Merchant Interchange Fees, Net      
Non-interest income      
Wealth management and trust services, debit card interchange fees net, service charges on deposit accounts, and merchant interchange fees net $ 422 $ 239 $ 331