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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
INTEREST INCOME        
Interest and Fees on Loans $ 35,483 $ 36,543 $ 105,091 $ 112,481
Interest on Federal Funds Sold and Other Short-term Investments 141 45 329 287
Interest and Dividends on Securities:        
Taxable 3,261 2,350 9,391 8,166
Non-taxable 4,690 3,175 12,583 8,291
TOTAL INTEREST INCOME 43,575 42,113 127,394 129,225
INTEREST EXPENSE        
Interest on Deposits 1,139 2,492 3,850 11,892
Interest on FHLB Advances and Other Borrowings 1,149 1,233 3,445 4,230
TOTAL INTEREST EXPENSE 2,288 3,725 7,295 16,122
NET INTEREST INCOME 41,287 38,388 120,099 113,103
Provision (Benefit) for Credit Losses (2,000) 4,500 (8,500) 15,550
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 43,287 33,888 128,599 97,553
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) 10,813 9,167 32,217 27,758
Company Owned Life Insurance 493 355 1,230 1,933
Other Operating Income 2,595 942 5,287 2,251
Net Gains on Sales of Loans 2,197 2,861 6,417 7,378
Net Gains on Securities 218 607 1,493 2,190
TOTAL NON-INTEREST INCOME 15,556 13,279 44,495 39,783
NON-INTEREST EXPENSE        
Salaries and Employee Benefits 17,274 17,409 51,454 50,691
Occupancy Expense 2,530 2,418 8,735 7,461
Furniture and Equipment Expense 923 944 2,896 2,963
FDIC Premiums 383 326 1,046 449
Data Processing Fees 2,006 1,693 5,528 5,142
Professional Fees 1,357 875 4,030 3,041
Advertising and Promotion 897 708 2,384 2,661
Intangible Amortization 661 860 2,132 2,729
Other Operating Expenses 6,413 4,187 14,535 12,699
TOTAL NON-INTEREST EXPENSE 32,444 29,420 92,740 87,836
Income before Income Taxes 26,399 17,747 80,354 49,500
Income Tax Expense 4,913 3,154 15,489 8,180
NET INCOME $ 21,486 $ 14,593 $ 64,865 $ 41,320
Basic Earnings Per Share (USD per share) $ 0.81 $ 0.55 $ 2.44 $ 1.56
Diluted Earnings Per Share (USD per share) $ 0.81 $ 0.55 $ 2.44 $ 1.56
Trust and Investment Product Fees        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) $ 2,690 $ 1,957 $ 7,668 $ 5,855
Service Charges on Deposit Accounts        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) 2,017 1,773 5,430 5,375
Insurance Revenues        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) 2,007 1,989 7,319 7,048
Interchange Fee Income        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) $ 3,339 $ 2,795 $ 9,651 $ 7,753