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Consolidated Condensed Statements of Income - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest Income        
Loans $ 65,559,000 $ 55,443,000 $ 177,366,000 $ 168,781,000
Investment securities:        
Taxable 5,965,000 4,334,000 15,901,000 11,054,000
Non-taxable 849,000 991,000 2,588,000 2,945,000
Interest-bearing deposits 221,000 33,000 387,000 142,000
FHLB stock dividends 510,000 60,000 743,000 175,000
Total interest income 73,104,000 60,861,000 196,985,000 183,097,000
Interest Expense        
Deposits 6,855,000 3,144,000 11,749,000 10,867,000
FHLB advances and other 2,069,000 11,000 2,609,000 23,000
Subordinated debentures 868,000 671,000 2,326,000 2,040,000
Notes payable 0 0 1,000 0
Total interest expense 9,792,000 3,826,000 16,685,000 12,930,000
Net interest income 63,312,000 57,035,000 180,300,000 170,167,000
Credit loss expense (benefit) - loans and leases 3,706,000 1,594,000 9,483,000 (9,549,000)
Credit loss expense - unfunded commitments 306,000 226,000 2,030,000 488,000
Net interest income after credit (benefit) loss expense 59,300,000 55,215,000 168,787,000 179,228,000
Non-interest Income        
Service fees and other charges 6,545,000 6,067,000 19,221,000 17,817,000
Insurance commissions 3,488,000 3,461,000 12,043,000 12,401,000
Mortgage banking income 3,970,000 6,175,000 10,170,000 18,865,000
Gain on sale of securities available for sale 0 233,000 0 2,218,000
Gain (loss) on equity securities 43,000 20,000 (1,760,000) 822,000
Wealth management income 1,355,000 1,321,000 4,246,000 4,644,000
Income from Bank Owned Life Insurance 983,000 947,000 2,961,000 2,975,000
Other non-interest income 320,000 146,000 1,051,000 2,005,000
Total non-interest income 16,704,000 18,370,000 47,932,000 61,747,000
Non-interest Expense        
Compensation and benefits 24,522,000 23,355,000 72,397,000 66,399,000
Occupancy 3,463,000 3,693,000 10,657,000 11,642,000
FDIC insurance premium 976,000 695,000 2,370,000 2,115,000
Financial institutions tax 1,050,000 1,187,000 3,315,000 3,553,000
Data processing 3,121,000 3,387,000 9,899,000 10,103,000
Amortization of intangibles 1,338,000 1,528,000 4,156,000 4,725,000
Other non-interest expense 6,629,000 5,256,000 18,689,000 17,300,000
Total non-interest expense 41,099,000 39,101,000 121,483,000 115,837,000
Income before income taxes 34,905,000 34,484,000 95,236,000 125,138,000
Income tax expense 6,710,000 6,124,000 18,324,000 24,397,000
Net income $ 28,195,000 $ 28,360,000 $ 76,912,000 $ 100,741,000
Earnings per common share        
Basic $ 0.79 $ 0.76 $ 2.15 $ 2.70
Diluted $ 0.79 $ 0.76 $ 2.15 $ 2.70