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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest and dividend income:        
Loans, including fees $ 75,956 $ 60,725 $ 203,619 $ 181,465
Investments:        
Taxable securities 16,864 7,483 40,862 20,594
Tax exempt securities 1,468 882 3,733 2,656
Dividends 258 258 833 730
Interest bearing cash at Federal Reserve and other banks 1,820 280 3,469 578
Total interest and dividend income 96,366 69,628 252,516 206,023
Interest expense:        
Deposits 992 855 2,519 2,620
Other borrowings 5 6 15 15
Junior subordinated debt 1,263 534 2,906 1,632
Total interest expense 2,260 1,395 5,440 4,267
Net interest income 94,106 68,233 247,076 201,756
Provision for (reversal of) credit losses 3,795 (1,435) 14,225 (7,755)
Net interest income after credit loss provision (reversal) 90,311 69,668 232,851 209,511
Non-interest income:        
Service charges and fees 12,682 11,265 37,422 32,671
Gain on sale of loans 357 1,814 2,145 7,908
Gain on sale of investment securities 0 0 0 0
Asset management and commission income 1,020 957 2,946 2,738
Increase in cash value of life insurance 659 644 2,049 2,062
Other 922 415 2,604 1,783
Total non-interest income 15,640 15,095 47,166 47,162
Non-interest expense:        
Salaries and related benefits 33,528 26,274 96,495 78,685
Other 20,937 19,533 60,681 52,911
Total non-interest expense 54,465 45,807 157,176 131,596
Income before provision for income taxes 51,486 38,956 122,841 125,077
Provision for income taxes 14,148 11,534 33,765 35,644
Net income $ 37,338 $ 27,422 $ 89,076 $ 89,433
Per share data:        
Basic earnings per share (in USD per share) $ 1.12 $ 0.92 $ 2.76 $ 3.01
Diluted earnings per share (in USD per share) 1.12 0.92 2.74 2.99
Dividend per share (in USD per share) $ 0.30 $ 0.25 $ 0.80 $ 0.75