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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest Income        
Loans, including fees $ 41,663 $ 33,267 $ 80,958 $ 64,200
Taxable 4,845 6,125 9,413 12,076
Exempt from federal income taxes 170 186 343 376
Other 6,344 762 11,346 1,497
Total interest income 53,022 40,340 102,060 78,149
Interest Expense        
Deposits 21,284 12,678 41,436 21,782
Short-term Borrowings 7,053 4,763 13,042 9,156
Long-term debt 684 665 1,362 1,319
Total interest expense 29,021 18,106 55,840 32,257
Net interest income 24,001 22,234 46,220 45,892
Provision for credit losses 4,489   4,489 550
Net interest income after provision for credit losses 19,512 22,234 41,731 45,342
Noninterest Income        
Mortgage banking 2,554 2,905 4,224 4,622
Other 1,923 1,223 3,415 3,781
Total noninterest income 27,371 25,778 52,694 51,031
Noninterest Expense        
Compensation 20,265 18,847 39,597 38,005
Employee taxes and benefits 5,134 4,724 11,322 10,577
Occupancy and equipment expense 1,815 1,837 3,722 3,736
Business services, software and technology expense 4,599 5,269 9,944 10,593
Intangible amortization expense 1,324 1,324 2,648 2,648
Professional fees and assessments 2,373 1,530 4,366 2,682
Marketing and business development 651 665 1,436 1,389
Supplies and postage 370 406 898 866
Travel 332 306 624 554
Mortgage and lending expenses 467 215 908 712
Other 1,422 1,250 2,306 2,480
Total noninterest expense 38,752 36,373 77,771 74,242
Income before income taxes 8,131 11,639 16,654 22,131
Income tax expense 1,923 2,535 4,014 4,841
Net income $ 6,208 $ 9,104 $ 12,640 $ 17,290
Earnings per common share        
Basic earnings per common share $ 0.31 $ 0.45 $ 0.64 $ 0.86
Diluted earnings per common share 0.31 0.45 0.63 0.85
Dividends declared per common share $ 0.20 $ 0.19 $ 0.39 $ 0.37
Average common shares outstanding 19,777 20,033 19,758 20,030
Diluted average common shares outstanding 20,050 20,241 20,018 20,243
Retirement and benefit services        
Noninterest Income        
Revenue $ 16,078 $ 15,890 $ 31,733 $ 31,372
Wealth management        
Noninterest Income        
Revenue 6,360 5,449 12,477 10,644
Service charges on deposit accounts        
Noninterest Income        
Revenue $ 456 $ 311 $ 845 $ 612