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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest and dividend income:    
Loans/leases, including fees $ 44,196 $ 41,333
Securities:    
Taxable 2,398 2,042
Nontaxable 4,150 3,934
Interest-bearing deposits at financial institutions 35 37
Restricted investment securities 281 219
Federal funds sold 2  
Total interest and dividend income 51,062 47,565
Interest expense:    
Deposits 3,137 3,427
Short-term borrowings   1
Federal Home Loan Bank advances 82 9
Subordinated notes 1,554 1,594
Junior subordinated debentures 556 559
Total interest expense 5,329 5,590
Net interest income 45,733 41,975
Provision for credit losses (2,916) 6,713
Net interest income after provision for credit losses 48,649 35,262
Noninterest income:    
Revenue 66,695 71,054
Gains on sales of residential real estate loans, net 493 1,337
Gains on sales of government guaranteed portions of loans, net 19  
Swap fee income/capital markets revenue 6,422 13,557
Earnings on bank-owned life insurance 346 471
Other 1,515 1,686
Total noninterest income 15,633 23,489
Noninterest expense:    
Salaries and employee benefits 23,627 24,847
Occupancy and equipment expense 3,937 4,108
Professional and data processing fees 3,671 3,443
Acquisition costs 1,851  
Disposition costs   8
FDIC insurance, other insurance and regulatory fees 1,310 1,065
Loan/lease expense 267 300
Net cost of (income from) and gains/losses on operations of other real estate (1) 39
Advertising and marketing 761 627
Bank service charges 541 523
Correspondent banking expense 199 200
Intangibles amortization 493 508
Other 1,669 1,560
Total noninterest expense 38,325 37,228
Net income before income taxes 25,957 21,523
Federal and state income tax expense 2,333 3,541
Net income $ 23,624 $ 17,982
Basic earnings per common share $ 1.51 $ 1.14
Diluted earnings per common share $ 1.49 $ 1.12
Weighted average common shares outstanding 15,625,112 15,803,643
Weighted average common and common equivalent shares outstanding 15,852,256 16,025,548
Cash dividends declared per common share $ 0.06 $ 0.06
Trust department fees    
Noninterest income:    
Revenue $ 2,963 $ 2,801
Investment advisory and management fees    
Noninterest income:    
Revenue 1,036 940
Deposit service fees    
Noninterest income:    
Revenue 1,555 1,408
Debit card fees    
Noninterest income:    
Revenue 1,007 975
Correspondent banking fees    
Noninterest income:    
Revenue $ 277 $ 314