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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
INTEREST INCOME        
Interest and fees on loans $ 38,851 $ 40,030 $ 117,657 $ 118,046
Interest on deposits with banks 5,218 6,404 17,624 15,099
Interest on investment securities 1,846 1,056 5,494 4,133
Interest on tax-exempt loans and securities 712 835 2,009 2,841
Total interest income 46,627 48,325 142,784 140,119
INTEREST EXPENSE        
Interest on deposits 19,214 17,460 55,775 44,063
Interest on short-term borrowings and repurchase agreements 19 0 25 888
Interest on subordinated debt 809 809 2,426 2,409
Interest on senior term loan 0 191 264 583
Total interest expense 20,042 18,460 58,490 47,943
NET INTEREST INCOME 26,585 29,865 84,294 92,176
Provision (release of allowance) for credit losses 959 (159) 3,210 182
Net interest income after provision (release of allowance) for credit losses 25,626 30,024 81,084 91,994
NONINTEREST INCOME        
Payment card and service charge income 3,852 2,852 12,482 9,965
Insurance income 78 81 208 251
Gain (loss) on sale of available-for-sale securities, net 0 0 658 (1,536)
Gain (loss) on sale of equity securities, net 0 25 103 (269)
Gain (loss) on sale of loans, net 26 330 26 (1,015)
Holding gain on equity securities 498 219 463 71
Compliance and consulting income 1,291 1,314 3,565 3,326
Equity method investments income (loss) 746 (750) 102 (70)
Loss on divestiture activity 0 0 0 (986)
Other operating income 166 1,720 4,026 5,540
Total noninterest income 6,657 5,791 21,633 15,277
NONINTEREST EXPENSES        
Salaries and employee benefits 16,722 16,016 49,160 48,508
Occupancy expense 1,041 921 2,854 2,803
Equipment depreciation and maintenance 1,130 1,439 3,564 4,347
Data processing and communications 1,356 1,257 4,128 3,523
Professional fees 4,649 5,682 15,578 12,581
Insurance, tax and assessment expense 1,041 1,397 3,018 3,432
Travel, entertainment, dues and subscriptions 1,782 1,362 4,766 5,421
Other operating expenses 1,764 2,651 5,538 8,709
Total noninterest expense 29,485 30,725 88,606 89,324
Income from continuing operations, before income taxes 2,798 5,090 14,111 17,947
Income taxes 642 1,218 3,304 3,639
Net income from continuing operations 2,156 3,872 10,807 14,308
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 2,156 3,872 10,807 23,090
Net (income) loss attributable to noncontrolling interest (76) (5) (156) 231
Net income attributable to parent $ 2,080 $ 3,867 $ 10,651 $ 23,321
Earnings per share from continuing operations - basic (in dollars per share) $ 0.16 $ 0.30 $ 0.83 $ 1.15
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) 0.16 0.30 0.83 1.84
Earnings per share from continuing operations - diluted (in dollars per share) 0.16 0.29 0.81 1.12
Earnings per share from discontinued operations - diluted (in dollars per share) 0 0 0 0.67
Earnings per common shareholder - diluted (in dollars per share) $ 0.16 $ 0.29 $ 0.81 $ 1.79
Weighted-average shares outstanding - basic (in shares) 12,927,962 12,722,010 12,874,311 12,678,708
Weighted-average shares outstanding - diluted (in shares) 13,169,011 13,116,629 13,121,245 13,012,834