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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest and dividend income    
Loans, including fees $ 62,673 $ 57,210
Loans held-for-sale 14 12
Securities:    
Taxable 8,092 10,735
Tax exempt 1,306 1,337
Dividends from FHLBC and FRBC stock 635 280
Interest bearing deposits with financial institutions 610 585
Total interest and dividend income 73,330 70,159
Interest expense    
Savings, NOW, and money market deposits 4,037 1,149
Time deposits 4,041 664
Securities sold under repurchase agreements 86 9
Other short-term borrowings 4,557 2,345
Junior subordinated debentures 280 279
Subordinated debentures 546 546
Senior notes   994
Notes payable and other borrowings   87
Total interest expense 13,547 6,073
Net interest and dividend income 59,783 64,086
Provision for credit losses 3,500 3,501
Net interest and dividend income after provision for credit losses 56,283 60,585
Noninterest income    
Mortgage servicing rights mark to market gain (loss) 94 (525)
Net gain on sales of mortgage loans 314 306
Securities gains (losses), net 1 (1,675)
Change in cash surrender value of BOLI 1,172 242
Card related income 2,376 2,244
Other income 1,030 1,489
Total noninterest income 10,501 7,350
Noninterest expense    
Salaries and employee benefits 24,312 22,248
Occupancy, furniture and equipment 3,927 3,475
Computer and data processing 2,255 1,774
FDIC insurance 667 584
Net teller & bill paying 521 502
General bank insurance 309 305
Amortization of core deposit intangible 580 624
Advertising expense 192 142
Card related expense 1,277 1,216
Legal fees 226 319
Consulting & management fees 336 790
Other real estate expense, net 46 306
Other expense 3,593 3,637
Total noninterest expense 38,241 35,922
Income before income taxes 28,543 32,013
Provision for income taxes 7,231 8,406
Net income $ 21,312 $ 23,607
Basic earnings per share $ 0.48 $ 0.53
Diluted earnings per share 0.47 0.52
Dividends declared per share $ 0.05 $ 0.05
Wealth management    
Noninterest income    
Service charges on deposits $ 2,561 $ 2,270
Service charges on deposits    
Noninterest income    
Service charges on deposits 2,415 2,424
Secondary mortgage fees    
Noninterest income    
Service charges on deposits 50 59
Mortgage servicing income    
Noninterest income    
Service charges on deposits $ 488 $ 516