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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
INTEREST INCOME        
Interest and Fees on Loans $ 39,987 $ 34,504 $ 78,922 $ 69,608
Interest on Federal Funds Sold and Other Short-term Investments 1,232 103 1,512 188
Interest and Dividends on Securities:        
Taxable 5,113 3,523 9,633 6,130
Non-taxable 5,934 4,164 11,474 7,893
TOTAL INTEREST INCOME 52,266 42,294 101,541 83,819
INTEREST EXPENSE        
Interest on Deposits 1,549 1,269 2,878 2,711
Interest on FHLB Advances and Other Borrowings 1,120 1,145 2,158 2,296
TOTAL INTEREST EXPENSE 2,669 2,414 5,036 5,007
NET INTEREST INCOME 49,597 39,880 96,505 78,812
Provision (Benefit) for Credit Losses 300 (5,000) 5,500 (6,500)
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 49,297 44,880 91,005 85,312
NON-INTEREST INCOME        
Company Owned Life Insurance 894 385 1,352 737
Other Operating Income 1,225 1,342 2,493 2,692
Net Gains on Sales of Loans 1,049 2,018 2,470 4,220
Net Gains on Securities 78 300 450 1,275
TOTAL NON-INTEREST INCOME 15,180 13,902 31,368 28,939
NON-INTEREST EXPENSE        
Salaries and Employee Benefits 20,384 16,375 43,472 34,180
Occupancy Expense 2,803 2,833 5,682 6,205
Furniture and Equipment Expense 969 997 1,899 1,973
FDIC Premiums 465 329 941 663
Data Processing Fees 2,460 1,779 10,184 3,522
Professional Fees 1,573 1,513 3,936 2,673
Advertising and Promotion 1,027 705 2,165 1,487
Intangible Amortization 957 711 1,974 1,471
Other Operating Expenses 5,063 3,795 13,608 8,122
TOTAL NON-INTEREST EXPENSE 35,701 29,037 83,861 60,296
Income before Income Taxes 28,776 29,745 38,512 53,955
Income Tax Expense 5,029 5,923 5,698 10,576
NET INCOME $ 23,747 $ 23,822 $ 32,814 $ 43,379
Basic Earnings Per Share (in dollars per share) $ 0.81 $ 0.90 $ 1.11 $ 1.64
Diluted Earnings Per Share (in dollars per share) $ 0.81 $ 0.90 $ 1.11 $ 1.64
Wealth Management Fees        
NON-INTEREST INCOME        
Non-interest income $ 2,642 $ 2,620 $ 5,280 $ 4,978
Service Charges on Deposit Accounts        
NON-INTEREST INCOME        
Non-interest income 2,871 1,735 5,554 3,413
Insurance Revenues        
NON-INTEREST INCOME        
Non-interest income 2,254 2,020 5,975 5,312
Interchange Fee Income        
NON-INTEREST INCOME        
Non-interest income $ 4,167 $ 3,482 $ 7,794 $ 6,312