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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest income      
Interest and fees on loans and leases $ 204,482 $ 164,022 $ 147,208
Interest and dividends on investment securities 22,400 22,289 17,158
Interest on deposits with others 26,872 12,102 902
Total interest income 253,754 198,413 165,268
Interest expense      
Deposits 37,523 4,349 4,017
Subordinated debentures 846 491 315
Total interest expense 38,369 4,840 4,332
Net interest income 215,385 193,573 160,936
Provision for credit losses 9,407 6,450 1,910
Net interest income after provision for credit losses 205,978 187,123 159,026
Non-interest income      
Card processing 6,686 7,123 6,959
Gain on BOLI death benefit 4,346 0 0
Net gain on deferred compensation benefits 2,974 451 2,614
Service charges on deposit accounts 2,755 2,794 2,972
Increase in cash surrender value of BOLI 2,027 2,233 2,175
Net (loss)/gain on sale of securities available-for-sale (8,199) (10,689) 2,554
Other 4,325 4,266 3,782
Total non-interest income 14,914 6,178 21,056
Non-interest expense      
Salaries and employee benefits 70,883 64,250 63,860
Data Processing 5,293 4,968 4,967
Occupancy 4,837 4,717 4,675
Net gain on deferred compensation benefits 2,974 451 2,614
Deposit insurance 2,769 1,771 1,498
Professional services 2,334 2,459 1,355
Marketing 1,885 1,324 1,097
Other 13,364 13,620 11,695
Total non-interest expense 104,339 93,560 91,761
INCOME BEFORE INCOME TAXES 116,553 99,741 88,321
Income tax expense 28,239 24,651 21,985
NET INCOME $ 88,314 $ 75,090 $ 66,336
Earnings per common share:      
Basic (in dollars per share) $ 116.61 $ 96.55 $ 84.01
Diluted (in dollars per share) $ 116.61 $ 96.55 $ 84.01
Weighted average number of common shares      
Basic (in shares) 757,336 777,726 789,646
Diluted (in shares) 757,336 777,726 789,646