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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Loans/leases, including fees:    
Taxable $ 77,131 $ 66,634
Nontaxable 24,128 17,312
Securities:    
Taxable 4,261 3,366
Nontaxable 7,386 5,337
Interest-bearing deposits at financial institutions 1,200 821
Restricted investment securities 674 513
Federal funds sold 269 234
Total interest and dividend income 115,049 94,217
Interest expense:    
Deposits 51,416 29,780
Short-term borrowings 23 99
Federal Home Loan Bank advances 4,738 3,521
Subordinated notes 3,480 3,311
Junior subordinated debentures 693 696
Total interest expense 60,350 37,407
Net interest income 54,699 56,810
Provision for credit losses 2,969 3,928
Net interest income after provision for credit losses 51,730 52,882
Noninterest income:    
Revenue 141,907 120,059
Gains on sales of residential real estate loans, net 382 312
Gains on sales of government guaranteed portions of loans, net 24 30
Capital markets revenue 16,457 17,023
Securities losses, net   (463)
Earnings on bank-owned life insurance 868 707
Loan related fee income 836 651
Fair value loss on derivatives and trading securities (163) (427)
Other 154 339
Total noninterest income 26,858 25,842
Noninterest expense:    
Salaries and employee benefits 31,860 32,003
Occupancy and equipment expense 6,514 5,914
Professional and data processing fees 4,613 3,514
Post-acquisition compensation, transition and integration costs   207
FDIC insurance, other insurance and regulatory fees 1,945 1,374
Loan/lease expense 378 556
Net income from and gains/losses on operations of other real estate (30) (67)
Advertising and marketing 1,483 1,237
Communication and data connectivity 401 665
Supplies 275 305
Bank service charges 568 605
Correspondent banking expense 305 210
Intangibles amortization 690 766
Payment card processing 646 545
Trust expense 425 214
Other 617 737
Total noninterest expense 50,690 48,785
Net income before income taxes 27,898 29,939
Federal and state income tax expense 1,172 2,782
Net income $ 26,726 $ 27,157
Basic earnings per common share $ 1.59 $ 1.62
Diluted earnings per common share $ 1.58 $ 1.60
Weighted average common shares outstanding 16,783,348 16,776,289
Weighted average common and common equivalent shares outstanding 16,910,675 16,942,132
Cash dividends declared per common share $ 0.06 $ 0.06
Trust fees    
Noninterest income:    
Revenue $ 3,199 $ 2,906
Investment advisory and management fees    
Noninterest income:    
Revenue 1,101 879
Deposit service fees    
Noninterest income:    
Revenue 2,022 2,028
Debit card fees    
Noninterest income:    
Revenue 1,466 1,466
Correspondent banking fees    
Noninterest income:    
Revenue $ 512 $ 391