XML 19 R5.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Fee Revenue and Other Income:      
Fee revenues $ 121,657,000 $ 108,691,000 $ 98,903,000
Other 4,755,000 2,369,000 2,696,000
Total fee revenue and other income 124,982,000 109,691,000 100,441,000
Interest Income:      
Interest and fees on loans 39,460,000 35,178,000 37,665,000
Interest and dividends on securities:      
Taxable 10,083,000 2,547,000 1,692,000
Exempt from federal income taxes 6,354,000 7,046,000 7,104,000
Interest on federal funds sold and other short-term investments 6,429,000 726,000 1,226,000
Total interest income 62,326,000 45,497,000 47,687,000
Interest Expense:      
Interest on deposits 3,482,000 1,171,000 2,360,000
Interest on short-term borrowings 0 0 2,000
Total interest expense 3,482,000 1,171,000 2,362,000
Net interest income 58,844,000 44,326,000 45,325,000
Provision for (release of) credit losses 1,350,000 (130,000) 810,000
Net interest income after provision for (release of) credit losses 57,494,000 44,456,000 44,515,000
Total net revenue 182,476,000 154,147,000 144,956,000
Operating Expense:      
Personnel 106,474,000 92,155,000 88,062,000
Occupancy 3,676,000 3,824,000 3,739,000
Equipment 6,668,000 6,745,000 6,568,000
Amortization of intangible assets 680,000 859,000 859,000
Other operating 22,078,000 16,743,000 15,387,000
Total operating expense 139,576,000 120,326,000 114,615,000
Income before income tax expense 42,900,000 33,821,000 30,341,000
Income tax expense 7,996,000 5,217,000 5,165,000
Net income $ 34,904,000 $ 28,604,000 $ 25,176,000
Basic Earnings Per Share (in dollars per share) $ 2.58 $ 2.03 $ 1.75
Diluted Earnings Per Share (in dollars per share) $ 2.53 $ 2.00 $ 1.73
Information Services      
Fee Revenue and Other Income:      
Fee revenues $ 120,227,000 $ 107,322,000 $ 97,745,000
Processing fees      
Fee Revenue and Other Income:      
Fee revenues 76,470,000 74,589,000 74,638,000
Financial fees      
Fee Revenue and Other Income:      
Fee revenues $ 43,757,000 $ 32,733,000 $ 23,107,000