Summarized Quarterly Financial Information (Tables)

12 Months Ended

Dec. 31, 2021

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
2021
Interest income	$	40,937		$	40,499	$	41,558	$	42,473
Taxable equivalent adjustment	331			343		334		325
Interest income (FTE)	41,268			40,842		41,892		42,798
Interest expense	3,397			2,585		2,070		1,842
Net interest income	37,871			38,257		39,822		40,956
Recovery of credit losses	(440)			(2,000)		(725)		—
Non-interest income	16,630			17,448		17,947		17,616
Non-interest expense	29,809			29,574		29,178		28,624
Income  before income tax expense	25,132			28,131		29,316		29,948
Income tax expense	4,987			5,640		6,250		6,237
Taxable equivalent adjustment	(331)			(343)		(334)		(325)
Net income available to common shareholders	$	19,814		$	22,148	$	22,732	$	23,386
Net earnings allocated to common  shareholders	$	19,635		$	21,942	$	22,499	$	23,161
Basic earnings  per common share	$	1.25		$	1.41	$	1.47	$	1.54
Diluted earnings per common share	1.25			1.41		1.47		1.54
Average common shares outstanding:
Basic	15,656			15,573		15,279		15,026
Diluted	15,687			15,594		15,302		15,056
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 the first quarter of 2020, 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.