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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest income:        
Interest and fees on loans $ 45,125 $ 35,691 $ 115,657 $ 104,670
Interest on mortgage loans held for sale 361 298 851 1,144
Taxable interest on debt securities 6,061 3,683 15,209 10,366
Dividends on Federal Home Loan Bank stock 88 95 218 338
Other interest income 503 56 769 121
Total interest and dividend income 52,138 39,823 132,704 116,639
Interest expense:        
Deposits 6,656 2,789 13,722 9,413
Federal Home Loan Bank advances 3,234 872 3,891 3,253
Junior subordinated debentures 206 92 443 278
Total interest expense 10,096 3,753 18,056 12,944
Net interest income [1] 42,042 36,070 114,648 103,695
Provision for credit losses 800 0 (2,100) (2,000)
Net interest income after provision for credit losses 41,242 36,070 116,748 105,695
Noninterest income:        
Wealth management revenues [1] 9,525 10,455 30,122 30,778
Mortgage banking revenues [1] 2,047 6,373 7,630 24,294
Card interchange fees [1] 1,287 1,265 3,754 3,714
Service charges on deposit accounts [1] 819 673 2,250 1,917
Loan related derivative income [1] 1,041 728 2,011 2,370
Income from bank-owned life insurance [1] 684 618 1,900 1,781
Other income [1] 400 408 1,147 2,233
Total noninterest income [1] 15,803 20,520 48,814 67,087
Noninterest expense:        
Salaries and employee benefits 21,609 22,162 62,992 65,771
Outsourced services 3,552 3,294 10,169 9,711
Net occupancy 2,234 2,134 6,708 6,304
Equipment 939 977 2,795 2,946
Legal, audit and professional fees 693 767 2,140 2,042
FDIC deposit insurance costs 430 482 1,198 1,201
Advertising and promotion 799 559 1,874 1,341
Amortization of intangibles 215 223 648 674
Debt prepayment penalties 0 0 0 4,230
Other expenses 2,596 1,922 6,839 6,025
Total noninterest expense 33,067 32,520 95,363 100,245
Income (loss) before income taxes 23,978 24,070 70,199 72,537
Income tax expense 5,310 5,319 15,091 15,855
Net income 18,668 18,751 55,108 56,682
Net income available to common shareholders $ 18,615 $ 18,697 $ 54,944 $ 56,520
Weighted average common shares outstanding - basic 17,174 17,320 17,269 17,303
Weighted average common shares outstanding - diluted 17,298 17,444 17,389 17,451
Per share information:        
Basic earnings per common share $ 1.08 $ 1.08 $ 3.18 $ 3.27
Diluted earnings per common share $ 1.08 $ 1.07 $ 3.16 $ 3.24
[1] As reported in the Unaudited Consolidated Statements of Income.