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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income:        
Loans, including fees $ 35,419 $ 29,360 $ 64,797 $ 58,640
Securities:        
Taxable 3,542 2,413 5,918 4,873
Non-taxable 1,137 1,157 2,281 2,327
Federal funds sold and interest-bearing deposits in banks 654 86 836 158
Total interest income 40,752 33,016 73,832 65,998
Interest expense:        
Deposits 2,317 2,186 4,207 4,343
Notes payable & other borrowings 0 4 0 43
Subordinated debt securities 1,013 1,012 2,025 2,031
Junior subordinated deferrable interest debentures 317 221 548 444
Total interest expense 3,647 3,423 6,780 6,861
Net interest income 37,105 29,593 67,052 59,137
Provision for loan losses 0 (2,007) (2,085) (1,918)
Net interest income, after provision for loan losses 37,105 31,600 69,137 61,055
Noninterest income:        
Service charges on deposit accounts 1,612 1,599 3,385 3,172
Income from insurance activities 1,577 1,240 3,147 2,352
Net gain on sales of loans 5,979 12,317 13,472 28,260
Bank card services and interchange fees 3,478 3,073 6,700 5,715
Other mortgage banking income 2,690 1,395 8,834 4,268
Investment commissions 466 530 1,012 960
Fiduciary fees 635 842 1,247 1,678
Other 2,398 1,254 4,735 2,345
Total noninterest income 18,835 22,250 42,532 48,750
Noninterest expense:        
Salaries and employee benefits 21,990 23,377 44,693 47,695
Occupancy and equipment, net 4,033 3,499 7,770 7,064
Professional services 2,647 1,522 5,272 3,095
Marketing and development 758 812 1,478 1,380
IT and data services 941 907 1,994 1,961
Bank card expenses 1,328 1,252 2,651 2,301
Appraisal expenses 508 879 1,073 1,560
Other 3,851 4,530 9,049 8,779
Total noninterest expense 36,056 36,778 73,980 73,835
Income before income taxes 19,884 17,072 37,689 35,970
Income tax expense 4,001 3,422 7,528 7,160
Net income $ 15,883 $ 13,650 $ 30,161 $ 28,810
Earnings per share:        
Basic (in dollars per share) $ 0.91 $ 0.76 $ 1.71 $ 1.60
Diluted (in dollars per share) $ 0.88 $ 0.74 $ 1.66 $ 1.55
Net income $ 15,883 $ 13,650 $ 30,161 $ 28,810
Other comprehensive income (loss):        
Unrealized gain (loss) on securities available for sale (42,097) 10,620 (86,974) (7,872)
Less: Change in fair value on hedged state and municipal securities 3,450 (2,750) 10,349 4,183
Tax effect 8,116 (1,653) 16,091 775
Other comprehensive income (loss) (30,531) 6,217 (60,534) (2,914)
Comprehensive income (loss) $ (14,648) $ 19,867 $ (30,373) $ 25,896