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CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest and fees on loans        
Taxable $ 44,138 $ 42,342 $ 83,873 $ 85,803
Tax exempt 280 101 449 205
Interest and dividends on securities        
Taxable 3,727 2,177 7,005 4,012
Tax exempt 4,994 2,870 9,600 5,359
Other interest income 483 135 729 223
Total interest income 53,622 47,625 101,656 95,602
Interest on deposits 4,890 3,890 7,971 8,108
Interest on borrowings        
Short-term 0 0 0 7
Long-term 54 74 127 147
Total interest expense 4,944 3,964 8,098 8,262
NET INTEREST INCOME 48,678 43,661 93,558 87,340
Provision (Reversal) for credit losses 0 (1,700) 417 (223)
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 48,678 45,361 93,141 87,563
NONINTEREST INCOME        
Wealth advisory fees 2,204 2,078 4,491 4,256
Investment brokerage fees 541 575 1,060 1,039
Service charges on deposit accounts 2,882 2,521 5,691 5,012
Loan and service fees 3,195 3,042 6,084 5,818
Merchant card fee income 904 766 1,719 1,388
Bank owned life insurance income (loss) (183) 705 (266) 1,461
Interest rate swap fee income 354 505 404 754
Mortgage banking income 351 415 860 1,788
Net securities gains 0 44 0 797
Other income 244 689 1,136 1,584
Total noninterest income 10,492 11,340 21,179 23,897
NONINTEREST EXPENSE        
Salaries and employee benefits 14,798 15,762 29,190 30,147
Net occupancy expense 1,688 1,427 3,317 2,930
Equipment costs 1,459 1,318 2,870 2,763
Data processing fees and supplies 3,203 3,204 6,284 6,523
Corporate and business development 1,433 699 2,652 2,208
FDIC insurance and other regulatory fees 619 495 1,058 959
Professional fees 1,414 1,839 2,973 3,716
Other expense 3,299 1,904 6,538 4,148
Total noninterest expense 27,913 26,648 54,882 53,394
INCOME BEFORE INCOME TAX EXPENSE 31,257 30,053 59,438 58,066
Income tax expense 5,584 5,705 10,123 10,735
NET INCOME $ 25,673 $ 24,348 $ 49,315 $ 47,331
BASIC WEIGHTED AVERAGE COMMON SHARES (in shares) 25,527,896 25,473,497 25,521,618 25,465,621
BASIC EARNINGS PER COMMON SHARE (in dollars per share) $ 1.00 $ 0.96 $ 1.93 $ 1.86
DILUTED WEIGHTED AVERAGE COMMON SHARES (in shares) 25,697,577 25,602,063 25,699,908 25,596,843
DILUTED EARNINGS PER COMMON SHARE (in dollars per share) $ 1.00 $ 0.95 $ 1.92 $ 1.85