Summarized Quarterly Financial Information (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Summary Of Selected Quarterly Financial Information

A summary of selected quarterly financial information (unaudited) is presented below (in thousands, except for per share data):

	First Quarter*		Second Quarter		Third Quarter		Fourth Quarter
2020
Interest income	$	48,217	$	44,312	$	43,231	$	42,499
Taxable equivalent adjustment	188		217		301		333
Interest income (FTE)	48,405		44,529		43,532		42,832
Interest expense	7,801		6,242		5,254		4,318
Net interest income	40,604		38,287		38,278		38,514
Provision for credit losses	7,972		1,250		1,026		474
Non-interest income	33,343		14,631		16,985		17,721
Non-interest expense	29,469		28,468		28,712		28,641
Income  before income tax expense	36,506		23,200		25,525		27,120
Income tax expense	7,322		4,732		5,098		4,565
Taxable equivalent adjustment	(188)		(217)		(301)		(333)
Net income available to common shareholders	$	28,996	$	18,251	$	20,126	$	22,222
Net earnings allocated to common  shareholders	$	28,736	$	18,051	$	19,929	$	21,992
Basic earnings  per common share	$	1.79	$	1.12	$	1.25	$	1.40
Diluted earnings per common share	1.78		1.12		1.25		1.40
Average common shares outstanding:
Basic	16,080		16,081		15,950		15,708
Diluted	16,101		16,097		15,970		15,733
*During this quarter the Company sold the entirety of its Visa Inc. Class B common shares in a cash transaction which resulted in a pre-tax gain of $17.8 million, or $0.84 diluted per share on an after-tax basis.
2019
Interest income	$	48,933	$	50,238	$	49,981	$	48,548
Taxable equivalent adjustment	208		202		192		189
Interest income (FTE)	49,141		50,440		50,173		48,737
Interest expense	8,867		9,327		9,444		8,701
Net interest income	40,274		41,113		40,729		40,036
(Recovery of) provision for credit losses	(849)		(600)		274		(75)
Non-interest income	15,925		17,825		16,698		18,042
Non-interest expense	29,411		30,772		28,397		29,034
Income  before income tax expense	27,637		28,766		28,756		29,119
Income tax expense	5,810		5,813		6,193		6,319
Taxable equivalent adjustment	(208)		(202)		(192)		(189)
Net income available to common shareholders	$	21,619	$	22,751	$	22,371	$	22,611
Net earnings allocated to common  shareholders	$	21,433	$	22,553	$	22,188	$	22,372
Basic earnings  per common share	$	1.31	$	1.38	$	1.36	$	1.38
Diluted earnings per common share	1.30		1.38		1.36		1.38
Average common shares outstanding:
Basic	16,411		16,368		16,271		16,207
Diluted	16,429		16,386		16,289		16,230