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Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Interest income:      
Interest and fees on loans, including loans held for sale $ 160,826 $ 164,991 $ 154,552
Interest and dividends on securities:      
Taxable 11,939 12,516 10,015
Tax exempt 2,380 2,354 2,796
Interest and dividends on Federal Reserve Bank and Federal Home Loan Bank stock 532 947 1,303
Interest on Federal Reserve Bank deposits 704 4,434 2,525
Other, including interest on federal funds sold 60 156 259
Total interest income 176,441 185,398 171,450
Interest expense:      
Interest on deposits 21,177 33,371 23,714
Interest on repurchase agreements and federal funds purchased 2,788 4,631 3,312
Interest on advances from Federal Home Loan Bank 0 39 27
Interest on long-term debt 1,485 2,472 2,242
Total interest expense 25,450 40,513 29,295
Net interest income 150,991 144,885 142,155
Provision for credit losses [1] 16,047 4,819 6,167
Net interest income after provision for credit losses 134,944 140,066 135,988
Noninterest income:      
Service charges on deposit accounts 23,461 26,359 25,974
Gains on sales of loans, net 7,226 1,880 1,288
Trust and wealth management income 10,931 10,804 11,313
Loan related fees 4,041 2,742 3,729
Bank owned life insurance 2,306 2,397 3,672
Brokerage revenue 1,483 1,367 1,354
Securities gains (losses) 1,769 783 (85)
Other noninterest income 3,343 3,852 4,707
Total noninterest income 54,560 50,184 51,952
Noninterest expense:      
Officer salaries and employee benefits 15,257 12,614 12,906
Other salaries and employee benefits 51,170 50,413 48,656
Occupancy, net 7,912 7,845 8,167
Equipment 2,737 3,000 2,878
Data processing 7,941 7,417 6,680
Bank franchise tax 7,299 6,771 6,557
Legal fees 1,634 1,968 1,637
Professional fees 2,091 2,188 2,093
Advertising and marketing 2,980 3,283 2,995
FDIC insurance 1,056 266 1,171
Other real estate owned provision and expense 2,655 5,490 4,324
Repossession expense 717 1,042 1,249
Amortization of limited partnership investments 3,759 3,422 2,527
Other noninterest expense 12,031 12,539 15,558
Total noninterest expense 119,239 118,258 117,398
Income before income taxes 70,265 71,992 70,542
Income taxes 10,761 7,452 11,314
Net income 59,504 64,540 59,228
Unrealized holding gains (losses) on debt securities available-for-sale:      
Unrealized holding gains (losses) arising during the period 13,839 14,270 (5,393)
Less: Reclassification adjustments for realized gains (losses) included in net income 1,251 3 (821)
Tax expense (benefit) 3,273 3,403 (960)
Other comprehensive income (loss), net of tax 9,315 10,864 (3,612)
Comprehensive income $ 68,819 $ 75,404 $ 55,616
Basic earnings per share (in dollars per share) $ 3.35 $ 3.64 $ 3.35
Diluted earnings per share (in dollars per share) $ 3.35 $ 3.64 $ 3.35
Weighted average shares outstanding-basic (in shares) 17,748 17,724 17,687
Weighted average shares outstanding-diluted (in shares) 17,756 17,740 17,703
[1] Effective January 1, 2020, the provision for loan losses became the provision for credit losses with the implementation of ASU 2016-13, commonly referred to as CECL.