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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 dividend income      
Interest and fees on loans (includes tax-exempt income of $1,170,000 in 2020, $1,302,000 in 2019, and $1,157,000 in 2018) $ 59,059 $ 59,239 $ 53,548
Interest on deposits with other banks 96 188 242
Interest and dividends on investments (includes tax-exempt income of $7,617,000 in 2020, $7,333,000 in 2019, and $6,954,000 in 2018) 17,964 19,224 16,753
Total interest and dividend income 77,119 78,651 70,543
Interest expense      
Interest on deposits 14,139 23,268 15,970
Interest on borrowed funds 3,147 2,890 4,364
Total interest expense 17,286 26,158 20,334
Net interest income 59,833 52,493 50,209
Provision for loan losses 6,050 1,250 1,500
Net interest income after provision for loan losses 53,783 51,243 48,709
Non-interest income      
Net securities gains 1,155 224 137
Other operating income 6,571 6,408 5,674
Non-interest income 18,119 14,189 12,600
Non-interest expense      
Salaries and employee benefits 20,388 18,396 17,641
Occupancy expense 2,762 2,558 2,435
Furniture and equipment expense 4,799 3,990 3,924
FDIC insurance premiums 738 439 1,226
Acquisition-related costs 310 0 0
Amortization of identified intangibles 43 43 43
Other operating expense 10,612 9,746 8,198
Total non-interest expense 39,652 35,172 33,467
Income before income taxes 32,250 30,260 27,842
Applicable tax expense 5,121 4,735 4,306
Net income $ 27,129 $ 25,525 $ 23,536
Basic earnings per common share (in usd per share) $ 2.50 $ 2.36 $ 2.18
Diluted earnings per common share (in usd per share) $ 2.48 $ 2.34 $ 2.17
Other comprehensive income (loss), net of tax      
Net unrealized gain (loss) on securities available for sale $ 1,352 $ 8,708 $ (2,150)
Net unrealized gain (loss) on securities transferred from available for sale to held to maturity, net of amortization 49 15 (23)
Net loss on cash flow hedging derivative instruments (5,029) (1,341) (106)
Net unrecognized gain (loss) on postretirement benefits 4 (13) 184
Other comprehensive gain (loss) (3,624) 7,369 (2,095)
Comprehensive income 23,505 32,894 21,441
Fiduciary and investment management income      
Non-interest income      
Non-interest income 3,660 3,318 3,030
Service charges on deposit accounts      
Non-interest income      
Non-interest income 1,648 2,330 2,194
Mortgage origination and servicing income      
Non-interest income      
Non-interest income $ 5,085 $ 1,909 $ 1,565