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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
INTEREST INCOME:      
Interest and fees on loans $ 59,267 $ 59,009 $ 47,489
Dividend Income, Equity Securities, Operating 54 62 65
Dividend Income, Operating 37 65 39
Interest on debt securities:      
Taxable 2,916 3,601 3,666
Non-taxable 1,027 1,677 2,686
Interest Income, Deposits with Financial Institutions 0 11 58
Other investments 479 769 591
TOTAL INTEREST INCOME 63,780 65,194 54,594
INTEREST EXPENSE:      
Interest on deposits 6,634 9,526 5,753
Interest on short-term borrowings 7 227 311
Interest on long-term debt 921 1,035 361
TOTAL INTEREST EXPENSE 7,562 10,788 6,425
NET INTEREST INCOME 56,218 54,406 48,169
PROVISION FOR LOAN LOSSES 2,014 207 923
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 54,204 54,199 47,246
NON-INTEREST INCOME:      
Fiduciary income 5,009 4,354 3,958
Service charges and fees on deposit accounts 5,482 5,875 5,590
Net gains (losses) on sales of debt securities 221 (41) (8)
Bank owned life insurance income 1,441 943 738
Net gains from sales of loans 2,297 328 223
Other operating income 1,291 889 549
TOTAL NON-INTEREST INCOME 15,741 12,348 11,050
NON-INTEREST EXPENSE:      
Salaries and employee benefits 27,178 25,320 21,279
Equipment expenses 1,377 1,209 1,138
Occupancy expense, net 2,875 2,961 2,861
State financial institutions tax 1,708 1,669 1,197
Marketing 1,254 1,319 1,119
Amortization of intangibles 1,046 1,043 922
FDIC insurance premiums, net 256 225 419
ATM expense 1,028 580 580
Computer maintenance and supplies 1,107 1,094 990
Telephone expense 706 707 649
Contracted services 1,821 1,865 1,547
Merger-related expenses 0 114 2,123
Other non-interest expense 5,429 5,416 5,678
TOTAL NON-INTEREST EXPENSE 45,785 43,522 40,502
INCOME BEFORE INCOME TAXES 24,160 23,025 17,794
PROVISION FOR INCOME TAXES 4,085 4,113 2,949
NET INCOME $ 20,075 $ 18,912 $ 14,845
Earnings per common share:      
Basic (in dollars per share) $ 1.55 $ 1.44 $ 1.24
Diluted (in dollars per share) $ 1.55 $ 1.44 $ 1.24
Weighted average common shares outstanding:      
Basic (in shares) 12,914,277 13,078,920 11,935,350
Diluted (in shares) 12,914,584 13,082,893 11,942,253