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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income:        
Loans and leases $ 60,415 $ 57,144 $ 115,623 $ 115,008
Investment securities, taxable 6,289 4,155 12,633 8,143
Investment securities, tax-exempt 157 154 291 328
Other 1,168 317 1,531 583
Total interest income 68,029 61,770 130,078 124,062
Interest expense:        
Deposits 3,553 3,202 5,929 6,728
Short-term borrowings 23 29 47 65
Subordinated notes 851 814 1,674 1,632
Long-term debt and mandatorily redeemable securities 140 790 (652) 1,290
Total interest expense 4,567 4,835 6,998 9,715
Net interest income 63,462 56,935 123,080 114,347
Provision (recovery of provision) for credit losses 2,503 (3,025) 4,736 (627)
Net interest income after provision for loan and lease losses 60,959 59,960 118,344 114,974
Noninterest income:        
Mortgage banking 1,062 2,859 2,439 6,760
Insurance commissions 1,568 1,684 3,473 3,836
Equipment rental 3,295 4,255 6,957 8,884
Losses on investment securities available-for-sale 0 (680) 0 (680)
Other 3,315 3,052 6,616 6,129
Total noninterest income 22,830 24,898 45,975 50,767
Noninterest expense:        
Salaries and employee benefits 25,562 25,510 51,029 50,706
Net occupancy 2,524 2,527 5,335 5,246
Furniture and equipment 1,384 1,420 2,679 2,894
Information Technology and Data Processing 5,402 4,917 10,610 9,901
Depreciation - leased equipment 2,664 3,550 5,679 7,323
Professional fees 2,094 2,146 3,702 3,759
FDIC and other insurance 893 772 1,743 1,437
Business development and marketing 1,669 1,351 2,937 2,348
Loan and lease collection and repossession (265) 486 (131) 615
Other 3,728 2,519 7,408 5,109
Total noninterest expense 45,655 45,198 90,991 89,338
Income before income taxes 38,134 39,660 73,328 76,403
Income tax expense 8,804 9,425 16,597 18,062
Net income 29,330 30,235 56,731 58,341
Net (income) loss attributable to noncontrolling interests (16) (12) (27) (13)
Net income available to common shareholders $ 29,314 $ 30,223 $ 56,704 $ 58,328
Per common share:        
Basic net income per common share (in dollars per share) $ 1.18 $ 1.19 $ 2.28 $ 2.29
Diluted net income per common share (in dollars per share) 1.18 1.19 2.28 2.29
Cash dividends (in dollars per share) $ 0.31 $ 0.30 $ 0.62 $ 0.59
Basic weighted average common shares outstanding (in shares) 24,691,747 25,143,712 24,717,625 25,231,789
Diluted weighted average common shares outstanding (in shares) 24,691,747 25,143,712 24,717,625 25,231,789
Trust and wealth advisory        
Noninterest income:        
Trust and wealth advisory, service charges on deposit accounts, and debit card income $ 6,087 $ 6,466 $ 12,001 $ 11,947
Service charges on deposit accounts        
Noninterest income:        
Trust and wealth advisory, service charges on deposit accounts, and debit card income 2,942 2,508 5,734 4,955
Debit card        
Noninterest income:        
Trust and wealth advisory, service charges on deposit accounts, and debit card income $ 4,561 $ 4,754 $ 8,755 $ 8,936