XML 16 R4.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Consolidated Statements Of Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest Income    
Interest and fees on loans $ 59,128,000 $ 47,004,000
Interest and dividends on investment securities:    
Taxable 12,040,000 11,773,000
Tax-exempt 830,000 1,162,000
Interest on deposits in depository institutions 1,570,000 1,591,000
Total Interest Income 73,568,000 61,530,000
Interest Expense    
Interest on deposits 14,097,000 5,690,000
Interest on short-term borrowings 3,621,000 2,381,000
Interest on FHLB long-term advances 1,423,000 0
Total Interest Expense 19,141,000 8,071,000
Net Interest Income 54,427,000 53,459,000
(Recovery of ) provision for credit losses (180,000) 2,918,000
Net Interest Income After (Recovery of) Provision for Credit Losses 54,607,000 50,541,000
Non-Interest Income    
(Losses) gains on sale of investment securities, net (1,000) 773,000
Unrealized (losses) gains recognized on equity securities still held, net (152,000) 361,000
Bank owned  life insurance 927,000 804,000
Other income 716,000 1,326,000
Total Non-Interest Income 17,948,000 18,682,000
Non-Interest Expense    
Salaries and employee benefits 18,878,000 17,673,000
Occupancy related expense 2,840,000 2,640,000
Equipment and software related expense 2,929,000 3,092,000
FDIC insurance expense 711,000 445,000
Advertising 867,000 760,000
Bankcard expenses 2,039,000 1,509,000
Postage, delivery, and statement mailings 666,000 647,000
Office supplies 453,000 420,000
Legal and professional fees 482,000 470,000
Telecommunications 600,000 606,000
Repossessed asset losses, net of expenses 229,000 16,000
Merger related expenses 0 5,645,000
Other expenses 5,206,000 4,700,000
Total Non-Interest Expense 35,900,000 38,623,000
Income Before Income Taxes 36,655,000 30,600,000
Income tax expense 7,132,000 6,259,000
Net Income Available to Common Shareholders $ 29,523,000 $ 24,341,000
Earnings Per Share [Abstract]    
Basic earnings per common share (in dollars per share) $ 1.98 $ 1.63
Diluted earnings per common share (in dollars per share) $ 1.97 $ 1.63
Retained Earnings    
Non-Interest Expense    
Net Income Available to Common Shareholders $ 29,523,000 $ 24,341,000
Service charges    
Non-Interest Income    
Revenue from contract with customer 7,035,000 6,563,000
Bankcard revenue    
Non-Interest Income    
Revenue from contract with customer 6,800,000 6,603,000
Trust and investment management fee income    
Non-Interest Income    
Revenue from contract with customer $ 2,623,000 $ 2,252,000