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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
INTEREST INCOME        
Interest and fees on loans $ 38,590 $ 39,321 $ 78,806 $ 78,016
Interest on deposits with banks 5,065 5,542 12,406 8,695
Interest on investment securities 1,905 1,229 3,648 3,077
Interest on tax-exempt loans and securities 567 939 1,297 2,006
Total interest income 46,127 47,031 96,157 91,794
INTEREST EXPENSE        
Interest on deposits 17,630 16,450 36,561 26,603
Interest on short-term borrowings and repurchase agreements 5 0 6 888
Interest on subordinated debt 808 801 1,617 1,600
Interest on senior term loan 114 198 264 392
Total interest expense 18,557 17,449 38,448 29,483
Net interest income (expense) 27,570 29,582 57,709 62,311
Provision (release of allowance) for credit losses 254 (4,235) 2,251 341
Net interest income after provision (release of allowance) for credit losses 27,316 33,817 55,458 61,970
NONINTEREST INCOME        
Payment card and service charge income 3,817 3,503 8,630 7,113
Insurance income 64 78 130 170
Gain (loss) on sale of available-for-sale securities, net 0 0 658 (1,536)
Gain (loss) on sale of equity securities, net 103 (294) 103 (294)
Loss on sale of loans, net 0 (989) 0 (1,345)
Holding gain (loss) on equity securities 14 160 (35) (148)
Compliance and consulting income 1,274 996 2,274 2,012
Equity method investments income (loss) 484 1,873 (644) 680
Loss on divestiture activity 0 (986) 0 (986)
Other operating income 1,386 2,078 3,860 3,820
Noninterest income 7,142 6,419 14,976 9,486
NONINTEREST EXPENSES        
Salaries and employee benefits 15,949 15,746 32,438 32,492
Occupancy expense 949 1,090 1,813 1,882
Equipment depreciation and maintenance 1,218 1,451 2,434 2,908
Data processing and communications 1,313 1,118 2,772 2,266
Professional fees 5,192 3,948 10,929 6,899
Insurance, tax and assessment expense 1,085 1,131 1,977 2,035
Travel, entertainment, dues and subscriptions 1,433 2,137 2,984 4,059
Other operating expenses 1,791 3,661 3,774 6,058
Total noninterest expense 28,930 30,282 59,121 58,599
Income from continuing operations, before income taxes 5,528 9,954 11,313 12,857
Income taxes 1,379 1,956 2,662 2,421
Net income from continuing operations 4,149 7,998 8,651 10,436
Income from discontinued operations, before income taxes 0 0 0 11,831
Income taxes from discontinued operations 0 0 0 3,049
Net income from discontinued operations 0 0 0 8,782
Net income, before noncontrolling interest 4,149 7,998 8,651 19,218
Net (income) loss attributable to noncontrolling interest (60) 114 (80) 236
Net income attributable to parent $ 4,089 $ 8,112 $ 8,571 $ 19,454
Earnings per share from continuing operations - basic (in dollars per share) $ 0.32 $ 0.64 $ 0.67 $ 0.84
Earnings per share from discontinued operations - basic (in dollars per share) 0 0 0 0.69
Earnings per common shareholder - basic (in dollars per share) 0.32 0.64 0.67 1.54
Earnings per share from continuing operations - diluted (in dollars per share) 0.31 0.63 0.66 0.82
Earnings per share from discontinued operations - diluted (in dollars per share) 0 0 0 0.68
Earnings per common shareholder - diluted (in dollars per share) $ 0.31 $ 0.63 $ 0.66 $ 1.50
Weighted-average shares outstanding - basic (in shares) 12,883,426 12,689,669 12,847,191 12,656,698
Weighted-average shares outstanding - diluted (in shares) 13,045,660 12,915,294 13,058,791 12,959,725