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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income        
Loans, including fees $ 33,789,000 $ 34,322,000 $ 66,774,000 $ 67,764,000
Securities, taxable 1,204,000 2,187,000 2,239,000 5,628,000
Securities, tax-exempt 598,000 562,000 1,195,000 1,138,000
Other interest-earning assets 183,000 93,000 351,000 568,000
Total interest income 35,774,000 37,164,000 70,559,000 75,098,000
Interest expense        
Deposits 2,346,000 3,700,000 5,063,000 8,342,000
Short-term borrowings 40,000 55,000 76,000 94,000
Federal Home Loan Bank advances 2,050,000 2,214,000 4,077,000 4,427,000
Subordinated debentures and other borrowings 467,000 624,000 939,000 1,348,000
Total interest expense 4,903,000 6,593,000 10,155,000 14,211,000
Net interest income 30,871,000 30,571,000 60,404,000 60,887,000
Provision for loan losses (3,100,000) 7,600,000 (2,800,000) 8,350,000
Net interest income after provision for loan losses 33,971,000 22,971,000 63,204,000 52,537,000
Noninterest income:        
Mortgage banking income 7,695,000 7,640,000 16,495,000 10,267,000
Interest rate swap fees 1,495,000 0 2,148,000 0
Payroll services income 405,000 370,000 962,000 947,000
Earnings on bank owned life insurance 297,000 307,000 574,000 643,000
Gain on sale of branch 1,058,000 0 1,058,000 0
Other income 477,000 248,000 821,000 675,000
Total noninterest income 14,556,000 10,984,000 28,019,000 17,534,000
Noninterest expense        
Salaries and benefits 16,194,000 14,126,000 31,279,000 27,654,000
Occupancy 1,977,000 1,862,000 3,991,000 3,921,000
Furniture and equipment depreciation, rent and maintenance 902,000 851,000 1,791,000 1,629,000
Data processing costs 2,775,000 2,633,000 5,392,000 5,117,000
Other expense 4,344,000 3,744,000 8,856,000 7,835,000
Total noninterest expenses 26,192,000 23,216,000 51,309,000 46,156,000
Income before federal income tax expense 22,335,000 10,739,000 39,914,000 23,915,000
Federal income tax expense 4,244,000 2,041,000 7,583,000 4,545,000
Net income $ 18,091,000 $ 8,698,000 $ 32,331,000 $ 19,370,000
Basic earnings per share (in dollars per share) $ 1.12 $ 0.54 $ 2.00 $ 1.19
Diluted earnings per share (in dollars per share) 1.12 0.54 2.00 1.19
Cash dividends per share (in dollars per share) $ 0.29 $ 0.28 $ 0.58 $ 0.56
Average basic shares outstanding (in shares) 16,116,070 16,212,500 16,199,096 16,281,391
Average diluted shares outstanding (in shares) 16,116,666 16,213,264 16,199,620 16,282,341
Service Charges on Deposit and Sweep Accounts [Member]        
Noninterest income:        
Noninterest revenue $ 1,209,000 $ 1,045,000 $ 2,363,000 $ 2,267,000
Credit and Debit Card [Member]        
Noninterest income:        
Noninterest revenue $ 1,920,000 $ 1,374,000 $ 3,598,000 $ 2,735,000