XML 19 R5.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
INTEREST INCOME      
Interest and fees on loans $ 75,282 $ 72,999 $ 74,854
Interest on deposits with banks 506 437 489
Interest on investment securities 2,405 2,448 3,055
Interest on tax-exempt loans and securities 5,236 4,569 3,963
Total interest income 83,429 80,453 82,361
INTEREST EXPENSE      
Interest on deposits 3,977 10,294 17,439
Interest on short-term borrowings 105 1,072 4,752
Interest on subordinated debt 2,188 261 770
Total interest expense 6,270 11,627 22,961
NET INTEREST INCOME 77,159 68,826 59,400
Provision (release of allowance) for loan losses (6,275) 16,579 1,789
Net interest income after provision (release of allowance) for loan losses 83,434 52,247 57,611
NONINTEREST INCOME      
Payment card and service charge income 7,524 2,821 1,980
Mortgage fee income 0 33,427 41,045
Insurance and investment services income 1,003 872 727
Gain (loss) on sale of available-for-sale securities, net 3,875 914 (166)
Gain (loss) on sale of equity securities, net 5 3,501 (7)
Gain on derivatives, net 0 2,341 1,253
Gain on sale of loans, net 4,178 332 520
Holding gain on equity securities 3,776 374 13,767
Compliance and consulting income 9,625 4,436 921
Equity method investments income, net 17,428 24,174 0
Gains on acquisition and divestiture activity 10,783 17,640 0
Other operating income 4,399 1,005 4,564
Total noninterest income 62,596 91,837 64,604
NONINTEREST EXPENSES      
Salaries and employee benefits 60,210 61,629 56,175
Occupancy expense 4,347 4,599 4,816
Equipment depreciation and maintenance 4,642 3,672 3,640
Data processing and communications 4,431 5,375 4,025
Mortgage processing 0 1,744 3,041
Marketing, contributions and sponsorships 525 1,096 1,290
Professional fees 10,770 8,453 4,999
Insurance, tax and assessment expense 2,032 2,090 1,663
Travel, entertainment, dues and subscriptions 5,092 3,390 4,151
Other operating expenses 5,403 5,093 3,401
Total noninterest expense 97,452 97,141 87,201
Income from continuing operations, before income taxes 48,578 46,943 35,014
Income tax expense - continuing operations 9,882 9,532 8,450
Net income from continuing operations 38,696 37,411 26,564
Income from discontinued operations, before income taxes 0 0 575
Income tax expense - discontinued operations 0 0 148
Net income from discontinued operations 0 0 427
Net loss attributable to noncontrolling interest 425 0 0
Net income 39,121 37,411 26,991
Preferred dividends 35 461 479
Net income available to common shareholders $ 39,086 $ 36,950 $ 26,512
Earnings per share from continuing operations - basic (in dollars per share) $ 3.32 $ 3.13 $ 2.22
Earnings per share from discontinued operations - basic (in dollars per share) 0 0 0.04
Earnings per common shareholder - basic (in dollars per share) 3.32 3.13 2.26
Earnings per share from continuing operations - diluted (in dollars per share) 3.10 3.06 2.16
Earnings per share from discontinued operations - diluted (in dollars per share) 0 0 0.04
Earnings per common shareholder - diluted (in dollars per share) $ 3.10 $ 3.06 $ 2.20
Weighted average shares outstanding - basic (in shares) 11,778,557 11,821,574 11,713,885
Weighted average shares outstanding - diluted (in shares) 12,613,620 12,088,106 12,044,667