Summary of Quarterly Results of Operations (unaudited)

12 Months Ended

Dec. 31, 2021

Quarterly Financial Information Disclosure [Abstract]

Summary of Quarterly Results of Operations (unaudited)

The following table sets forth the results of operations for the four quarters of 2021 and 2020, and is unaudited; however, in the opinion of Management, it reflects all adjustments (which include only normal recurring adjustments) necessary to present fairly the summarized results for such periods.


	2021 Quarters Ended
(dollars in thousands, except per share data)	December 31,		September 30,		June 30,		March 31,
Interest and dividend income:
Loans:
Discount accretion	$	1,780	$	2,034	$	2,566	$	1,712
All other loan interest income	59,024		58,691		57,738		58,724
Total loan interest income	60,804		60,725		60,304		60,436
Debt securities, dividends and interest bearing cash at banks	10,220		8,903		8,175		7,480
Total interest income	71,024		69,628		68,479		67,916
Interest expense	1,241		1,395		1,396		1,476
Net interest income	69,783		68,233		67,083		66,440
Provision for (benefit from reversal of) credit losses	980		(1,435)		(260)		(6,060)
Net interest income after provision for credit losses	68,803		69,668		67,343		72,500
Noninterest income	16,502		15,095		15,957		16,110
Noninterest expense	46,679		45,807		44,171		41,618
Income before income taxes	38,626		38,956		39,129		46,992
Income tax expense	10,404		11,534		10,767		13,343
Net income	$	28,222	$	27,422	$	28,362	$	33,649
Per common share:
Net income (diluted)	$	0.94	$	0.92	$	0.95	$	1.13
Dividends	$	0.25	$	0.25	$	0.25	$	0.25


	2020 Quarters Ended
(dollars in thousands, except per share data)	December 31,		September 30,		June 30,		March 31,
Interest and dividend income:
Loans:
Discount accretion	$	1,960	$	1,876	$	2,587	$	1,748
All other loan interest income	59,055		56,163		55,822		54,510
Total loan interest income	61,015		58,039		58,409		56,258
Debt securities, dividends and interest bearing cash at banks	7,066		7,399		8,739		10,259
Total interest income	68,081		65,438		67,148		66,517
Interest expense	1,659		1,984		2,489		3,325
Net interest income	66,422		63,454		64,659		63,192
Provision for credit losses	4,850		7,649		22,244		8,070
Net interest income after provision for loan losses	61,572		55,805		42,415		55,122
Noninterest income	16,580		15,137		11,657		11,820
Noninterest expense	45,745		46,714		45,550		44,749
Income before income taxes	32,407		24,228		8,522		22,193
Income tax expense	8,750		6,622		1,092		6,072
Net income	$	23,657	$	17,606	$	7,430	$	16,121
Per common share:
Net income (diluted)	$	0.79	$	0.59	$	0.25	$	0.53
Dividends	$	0.22	$	0.22	$	0.22	$	0.22