XML 19 R4.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest and dividend income:      
Loans/leases, including fees $ 173,940 $ 173,967 $ 190,324
Securities:      
Taxable 8,923 7,787 6,607
Nontaxable 16,167 14,900 13,858
Interest-bearing deposits at financial institutions 173 669 3,910
Restricted investment securities 950 1,031 1,174
Federal funds sold 2 19 203
Total interest and dividend income 200,155 198,373 216,076
Interest expense:      
Deposits 13,300 23,269 50,875
Short-term borrowings 5 84 363
Federal Home Loan Bank advances 70 1,087 2,894
Other borrowings     513
Subordinated notes 6,272 4,697 3,564
Junior subordinated debentures 2,275 2,286 2,308
Total interest expense 21,922 31,423 60,517
Net interest income 178,233 166,950 155,559
Provision for credit losses 3,486 55,704 7,066
Net interest income after provision for loan/lease losses 174,747 111,246 148,493
Noninterest income:      
Revenue 300,577 312,171 294,844
Gains on sales of residential real estate loans, net 4,397 4,680 2,571
Gains on sales of government guaranteed portions of loans, net 227 224 748
Swap fee income/capital markets revenue 60,992 74,821 28,295
Securities gains (losses), net (88) 2,484 (30)
Earnings on bank-owned life insurance 1,838 1,904 1,973
Gain on sale of assets and liabilities of subsidiary     12,286
Other 6,308 4,814 5,429
Total noninterest income 100,422 113,798 78,768
Noninterest expense:      
Salaries and employee benefits 100,907 96,268 92,063
Occupancy and equipment expense 15,918 16,504 15,106
Professional and data processing fees 14,579 14,644 13,381
Acquisition costs 624    
Post-acquisition compensation, transition and integration costs   214 3,582
Disposition costs 13 690 3,325
FDIC insurance, other insurance and regulatory fees 4,475 4,164 2,955
Loan/lease expense 1,671 1,435 1,097
Net income from and gains/losses on operations of other real estate (1,420) (307) 3,789
Advertising and marketing 4,254 3,260 4,548
Bank service charges 2,173 2,016 2,009
Losses on liability extinguishment   3,907 436
Correspondent banking expense 799 838 836
Intangibles amortization 2,032 2,149 2,266
Goodwill impairment   500 3,000
Loss on sale of subsidiary   (158)  
Other 7,677 5,315 6,841
Total noninterest expense 153,702 151,755 155,234
Net income before income taxes 121,467 73,289 72,027
Federal and state income tax expense 22,562 12,707 14,619
Net income $ 98,905 $ 60,582 $ 57,408
Basic earnings per common share $ 6.30 $ 3.84 $ 3.65
Diluted earnings per common share $ 6.20 $ 3.80 $ 3.60
Weighted average common shares outstanding 15,708,744 15,771,650 15,730,016
Weighted average common and common equivalent shares outstanding 15,944,708 15,952,637 15,967,775
Cash dividends declared per common share $ 0.24 $ 0.24 $ 0.24
Trust department fees      
Noninterest income:      
Revenue $ 11,206 $ 9,207 $ 9,559
Investment advisory and management fees      
Noninterest income:      
Revenue 4,080 5,318 6,995
Deposit service fees      
Noninterest income:      
Revenue 6,132 6,041 6,812
Debit card fees      
Noninterest income:      
Revenue 4,216 3,402 3,357
Correspondent banking fees      
Noninterest income:      
Revenue $ 1,114 $ 903 $ 773