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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest income:    
Interest and fees on loans and leases $ 71,762 $ 50,200
Interest and dividends on taxable investment securities 11,003 6,050
Interest on tax-exempt investment securities 996 1,015
Other interest income 388 160
Total interest income 84,149 57,425
Interest expense:    
Interest on deposits 5,661 2,053
Interest on short-term borrowings 4,457 338
Interest on long-term borrowings 1,153 724
Total interest expense 11,271 3,115
Net interest income 72,878 54,310
Provision for (recovery of) credit losses 1,853 (6,807)
Net interest income after provision for (recovery of) credit losses 71,025 61,117
Non-interest income:    
Insurance income 5,425 4,731
Lease income 1,077 775
Bank owned life insurance income 707 431
Mortgage banking income 314 436
Net loss on asset disposals and other transactions (246) (127)
Net (loss) gain on investment securities (1,935) 130
Other non-interest income 668 719
Total non-interest income 19,060 20,050
Non-interest expense:    
Salaries and employee benefit costs 32,028 27,729
Net occupancy and equipment expense 4,955 5,088
Data processing and software expense 4,562 2,916
Professional fees 2,881 3,672
Amortization of other intangible assets 1,871 1,708
Electronic banking expense 1,491 2,759
Franchise tax expense 1,034 764
Marketing expense 930 995
FDIC insurance expense 801 1,194
Other loan expenses 739 832
Communication expense 613 625
Other non-interest expense 4,574 3,347
Total non-interest expense 56,479 51,629
Income before income taxes 33,606 29,538
Income tax expense 7,046 5,961
Net income $ 26,560 $ 23,577
Earnings per common share - basic (in usd per share) $ 0.95 $ 0.84
Earnings per common share - diluted (in usd per share) $ 0.94 $ 0.84
Weighted-average number of common shares outstanding - basic (in shares) 27,891,760 28,006,165
Weighted-average number of common shares outstanding - diluted (in shares) 28,021,879 28,129,131
Cash dividends declared $ 10,725 $ 10,176
Cash dividends declared per common share (in usd per share) $ 0.38 $ 0.36
Electronic banking income    
Non-interest income:    
Revenue from contract with customer $ 5,443 $ 5,253
Trust and investment income    
Non-interest income:    
Revenue from contract with customer 4,084 4,276
Deposit account service charges    
Non-interest income:    
Revenue from contract with customer $ 3,523 $ 3,426