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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income        
Loans, including fees $ 33,656,000 $ 33,664,000 $ 100,430,000 $ 101,428,000
Securities, taxable 1,341,000 1,212,000 3,580,000 6,840,000
Securities, tax-exempt 600,000 576,000 1,795,000 1,714,000
Other interest-earning assets 291,000 142,000 642,000 711,000
Total interest income 35,888,000 35,594,000 106,447,000 110,693,000
Interest expense        
Deposits 2,184,000 3,466,000 7,247,000 11,808,000
Short-term borrowings 46,000 38,000 122,000 132,000
Federal Home Loan Bank advances 2,072,000 2,072,000 6,149,000 6,499,000
Subordinated debentures and other borrowings 462,000 509,000 1,401,000 1,857,000
Total interest expense 4,764,000 6,085,000 14,919,000 20,296,000
Net interest income 31,124,000 29,509,000 91,528,000 90,397,000
Provision for loan losses 1,900,000 3,200,000 (900,000) 11,550,000
Net interest income after provision for loan losses 29,224,000 26,309,000 92,428,000 78,847,000
Noninterest income:        
Mortgage banking income 6,554,000 9,479,000 23,049,000 19,746,000
Interest rate swap fees 3,938,000 0 6,086,000 0
Payroll services income 412,000 399,000 1,374,000 1,346,000
Earnings on bank owned life insurance 298,000 290,000 872,000 933,000
Gain on sale of branch 0 0 1,058,000 0
Other income 1,095,000 368,000 1,916,000 1,042,000
Total noninterest income 15,568,000 13,307,000 43,587,000 30,839,000
Noninterest expense        
Salaries and benefits 15,975,000 16,734,000 47,255,000 44,388,000
Occupancy 2,030,000 2,023,000 6,021,000 5,944,000
Furniture and equipment depreciation, rent and maintenance 929,000 871,000 2,719,000 2,500,000
Data processing costs 2,746,000 2,676,000 8,138,000 7,793,000
Other expense 4,530,000 4,119,000 13,386,000 11,954,000
Total noninterest expense 26,210,000 26,423,000 77,519,000 72,579,000
Income before federal income tax expense 18,582,000 13,193,000 58,496,000 37,107,000
Federal income tax expense 3,531,000 2,507,000 11,114,000 7,051,000
Net income $ 15,051,000 $ 10,686,000 $ 47,382,000 $ 30,056,000
Basic earnings per share (in dollars per share) $ 0.95 $ 0.66 $ 2.95 $ 1.85
Diluted earnings per share (in dollars per share) 0.95 0.66 2.95 1.85
Cash dividends per share (in dollars per share) $ 0.30 $ 0.28 $ 0.88 $ 0.84
Average basic shares outstanding (in shares) 15,859,955 16,233,196 16,084,806 16,265,208
Average diluted shares outstanding (in shares) 15,860,314 16,233,666 16,085,274 16,265,986
Service Charges on Deposit and Sweep Accounts [Member]        
Noninterest income:        
Noninterest revenue $ 1,324,000 $ 1,135,000 $ 3,687,000 $ 3,401,000
Credit and Debit Card [Member]        
Noninterest income:        
Noninterest revenue $ 1,947,000 $ 1,636,000 $ 5,545,000 $ 4,371,000