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Condensed 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        
Loans, including fees $ 56,750 $ 43,307 $ 152,105 $ 120,402
Federal funds sold and interest bearing due from banks 2,450 208 3,845 358
Mortgage loans held for sale 103 53 177 175
Federal Home Loan Bank stock 172 83 328 204
Investment securities:        
Taxable 7,503 3,206 18,988 8,245
Tax-exempt 432 91 1,059 184
Total interest income 67,410 46,948 176,502 129,568
Interest expense        
Deposits 4,449 1,403 7,390 4,348
Securities sold under agreements to repurchase 176 6 250 16
Federal funds purchased and other short-term borrowings 50 5 72 11
Subordinated debentures 359 0 670 0
Federal Home Loan Bank advance 0 51 0 301
Total interest expense 5,034 1,465 8,382 4,676
Net interest income 62,376 45,483 168,120 124,892
Provision for credit losses 4,803 (1,525) 6,882 1,147
Net interest income after credit loss expense 57,573 47,008 161,238 123,745
Non-interest income:        
Mortgage banking income [1] 703 915 3,001 3,662
Bank owned life insurance [1] 516 275 1,052 642
Gain (loss) on sale of premises and equipment [1] 3,074 0 3,074 (41)
Total non-interest income 24,864 17,614 66,007 47,246
Non-interest expenses        
Compensation 23,069 17,381 63,242 45,888
Employee benefits 4,179 3,662 13,147 10,290
Net occupancy and equipment 3,767 2,732 10,455 7,021
Technology and communication 3,747 3,173 11,150 8,189
Debit and credit card processing 1,437 1,479 4,439 3,160
Marketing and business development 1,244 1,011 3,461 2,357
Postage, printing and supplies 903 630 2,461 1,499
Legal and professional 774 700 2,451 1,828
FDIC insurance 847 387 2,028 1,141
Amortization of investments in tax credit partnerships 88 53 265 315
Capital and deposit based taxes 722 556 1,822 1,541
Merger expenses 0 525 19,500 19,025
Federal Home Loan Bank early termination penalty 0 0 0 474
Intangible amortization 1,610 290 3,934 494
Other 2,486 1,979 7,490 4,486
Total non-interest expenses 44,873 34,558 145,845 107,708
Income before income tax expense 37,564 30,064 81,400 63,283
Income tax expense 9,024 6,902 18,016 13,227
Net income 28,540 23,162 63,384 50,056
Less income attributed to non-controlling interest 85 0 229 0
Net Income available to stockholders $ 28,455 $ 23,162 $ 63,155 $ 50,056
Net income per common share, basic (in dollars per share) $ 0.98 $ 0.87 $ 2.22 $ 2.05
Net income per common share, diluted (in dollars per share) $ 0.97 $ 0.87 $ 2.20 $ 2.03
Weighted average outstanding shares        
Basic (in shares) 29,144 26,485 28,509 24,360
Diluted (in shares) 29,404 26,726 28,752 24,602
Fiduciary and Trust [Member]        
Non-interest income:        
Non-interest income $ 9,152 $ 7,128 $ 26,890 $ 20,234
Deposit Account [Member]        
Non-interest income:        
Non-interest income 2,179 1,768 6,103 3,945
Credit and Debit Card [Member]        
Non-interest income:        
Non-interest income 4,710 3,887 13,577 9,444
Treasury Management [Member]        
Non-interest income:        
Non-interest income 2,221 1,771 6,312 5,041
Investment Advisory, Management and Administrative Service [Member]        
Non-interest income:        
Non-interest income 892 780 2,230 1,789
Product and Service, Other [Member]        
Non-interest income:        
Non-interest income $ 1,417 $ 1,090 $ 3,768 $ 2,530
[1] Outside of the scope of ASC 606.