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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 Income        
Interest and fees on loans $ 33,121 $ 30,865 $ 65,156 $ 61,425
Taxable interest on investments 5,850 4,376 11,639 8,205
Nontaxable interest on investments 770 763 1,534 1,491
Dividend income 106 102 212 207
Other interest income 183 160 347 326
Total interest income 40,030 36,266 78,888 71,654
Interest Expense        
Interest on deposits 2,510 1,921 4,343 3,984
Interest on borrowings 454 176 585 332
Interest on subordinated debentures 532 640 1,061 1,445
Total interest expense 3,496 2,737 5,989 5,761
Net interest income 36,534 33,529 72,899 65,893
Provision (credit) for credit losses 2,345 (3,403) 1,270 (5,359)
Net interest income after provision (credit) for credit losses 34,189 36,932 71,629 71,252
Non-Interest Income        
Mortgage banking income, net 1,517 2,598 2,551 9,707
Brokerage and insurance commissions 1,272 939 2,266 1,892
Bank-owned life insurance 569 591 1,145 1,185
Net loss on sale of securities (9) 0 (9) 0
Other income 967 856 1,800 1,614
Total non-interest income 11,141 11,320 20,966 26,535
Non-Interest Expense        
Salaries and employee benefits 15,402 15,318 30,908 29,840
Furniture, equipment and data processing 3,202 2,947 6,334 5,974
Net occupancy costs 1,806 1,805 3,950 3,756
Consulting and professional fees 1,293 997 2,300 1,860
Debit card expense 1,134 1,074 2,200 2,060
Regulatory assessments 515 487 1,170 990
Amortization of core deposit intangible assets 157 164 313 328
Other real estate owned and collection costs (recoveries), net 38 (25) (47) (216)
Other expenses 3,009 2,823 5,637 5,897
Total non-interest expense 26,556 25,590 52,765 50,489
Income before income tax expense 18,774 22,662 39,830 47,298
Income Tax Expense 3,748 4,519 8,009 9,415
Net Income $ 15,026 $ 18,143 $ 31,821 $ 37,883
Per Share Data        
Basic earnings per share $ 1.02 $ 1.21 $ 2.16 $ 2.53
Diluted earnings per share 1.02 1.21 2.15 2.52
Cash dividends declared per share $ 0.40 $ 0.36 $ 0.80 $ 0.72
Weighted average number of common shares outstanding 14,651,851 14,943,486 14,696,323 14,930,017
Diluted weighted average number of common shares outstanding 14,704,651 15,007,471 14,757,062 14,994,138
Debit card income        
Non-Interest Income        
Revenue $ 3,213 $ 3,112 $ 6,137 $ 5,848
Service charges on deposit accounts        
Non-Interest Income        
Revenue 1,931 1,517 3,764 3,056
Income from fiduciary services        
Non-Interest Income        
Revenue $ 1,681 $ 1,707 $ 3,312 $ 3,233