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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
INTEREST INCOME        
Loans $ 46,764 $ 47,360 $ 89,829 $ 95,069
Investment securities and other 5,934 3,092 9,543 6,016
TOTAL INTEREST INCOME 52,698 50,452 99,372 101,085
INTEREST EXPENSE        
Deposits 2,358 3,457 4,532 7,679
Securities sold under reverse repurchase agreements 8 10 18 19
Short-term borrowings, overnight FHLBank borrowings and other interest-bearing liabilities 236   237  
Subordinated debentures issued to capital trust 159 113 277 226
Subordinated notes 1,106 2,188 2,211 4,388
TOTAL INTEREST EXPENSE 3,867 5,768 7,275 12,312
NET INTEREST INCOME 48,831 44,684 92,097 88,773
PROVISION (CREDIT) FOR CREDIT LOSSES ON LOANS 0 (1,000)   (700)
PROVISION (CREDIT) FOR UNFUNDED COMMITMENTS 2,223 (307) 2,030 (981)
NET INTEREST INCOME AFTER PROVISION (CREDIT) FOR CREDIT LOSSES AND PROVISION (CREDIT) FOR UNFUNDED COMMITMENTS 46,608 45,991 90,067 90,454
NON-INTEREST INCOME        
Commissions 389 370 686 652
Overdraft and insufficient funds fees 1,888 1,528 3,753 2,972
Point-Of-Sale and ATM fee income and service charges 4,104 3,971 8,068 7,329
Net gains on loan sales 498 2,613 1,632 5,301
Net realized gain on sale of available-for-sale securities     7  
Late charges and fees on loans 360 358 673 659
Gain (loss) on derivative interest rate products 145 (179) 297 295
Other income 1,935 924 3,379 2,113
TOTAL NON-INTEREST INCOME 9,319 9,585 18,495 19,321
NON-INTEREST EXPENSE        
Salaries and employee benefits 19,432 17,934 37,512 35,054
Net occupancy and equipment expense 6,808 6,706 13,686 13,768
Postage 844 750 1,631 1,628
Insurance 787 759 1,581 1,519
Advertising 875 605 1,430 1,190
Office supplies and printing 208 161 426 438
Telephone 832 868 1,681 1,749
Legal, audit and other professional fees 1,196 531 2,001 1,178
Expense on other real estate and repossessions 65 102 228 370
Acquired deposit intangible asset amortization 177 258 335 547
Other operating expenses 1,780 1,517 3,760 3,071
TOTAL NON-INTEREST EXPENSE 33,004 30,191 64,271 60,512
INCOME BEFORE INCOME TAXES 22,923 25,385 44,291 49,263
PROVISION FOR INCOME TAXES 4,699 5,271 9,080 10,281
NET INCOME AND NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 18,224 $ 20,114 $ 35,211 $ 38,982
Earnings Per Common Share        
Basic $ 1.45 $ 1.47 $ 2.76 $ 2.84
Diluted 1.44 1.46 2.73 2.82
Dividends Declared Per Common Share $ 0.40 $ 0.34 $ 0.76 $ 0.68