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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Mar. 31, 2021
Interest income      
Interest and fees on loans (includes tax-exempt income of $291,000 for March 31, 2022, $271,000 for December 31, 2021 and $290,000 for March 31, 2021) $ 16,613 $ 16,331 $ 15,119
Interest on deposits with other banks 9 27 12
Interest and dividends on investments (includes tax-exempt income of $1,803,000 for March 31, 2022, $1,846,000 for December 31, 2021 and $1,956,000 for March 31, 2021) 3,911 3,641 3,822
     Total interest income 20,533 19,999 18,953
Interest expense      
Interest on deposits 1,625 1,518 2,198
Interest on borrowed funds 288 785 882
     Total interest expense 1,913 2,303 3,080
Net interest income 18,620 17,696 15,873
Provision (credit) for loan losses 450 (1,950) 525
Net interest income after provision for loan losses 18,170 19,646 15,348
Non-interest income      
Net securities gains 2 1 119
Other operating income 668 967 557
     Total non-interest income 4,232 4,799 5,298
Non-interest expense      
Salaries and employee benefits 5,937 5,552 5,123
Occupancy expense 829 693 753
Furniture and equipment expense 1,235 1,253 1,215
FDIC insurance premiums 218 224 199
Amortization of identified intangibles 17 17 17
Other operating expense 2,414 5,107 2,567
     Total non-interest expense 10,650 12,846 9,874
Income before income taxes 11,752 11,599 10,772
Income tax expense 2,047 2,053 1,850
NET INCOME $ 9,705 $ 9,546 $ 8,922
Basic earnings per common share (usd per share) $ 0.89 $ 0.87 $ 0.82
Diluted earnings per common share (usd per share) $ 0.88 $ 0.87 $ 0.81
Other comprehensive income (loss) net of tax      
Net unrealized loss on securities available for sale, net of taxes $ (18,343) $ (1,091) $ (4,790)
Net unrealized gain on transferred securities, net of taxes 9 12 9
Net unrealized gain on cash flow hedging derivative instruments 0 1,537 3,469
Unrecognized transition obligation for postretirement benefits, net of taxes 0 77 0
Other comprehensive income (loss) (18,334) 535 (1,312)
Comprehensive income (loss) (8,629) 10,081 7,610
Investment management and fiduciary income      
Non-interest income      
Non-interest income 1,197 1,177 1,065
Service charges on deposit accounts      
Non-interest income      
Non-interest income 437 436 337
Mortgage origination and servicing income, net of amortization      
Non-interest income      
Non-interest income 498 885 1,967
Debit card income      
Non-interest income      
Non-interest income $ 1,430 $ 1,333 $ 1,253