XML 26 R5.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest income      
Loans, including fees $ 202,179 $ 148,284 $ 141,036
Taxable investment securities 38,978 39,019 25,692
Tax-exempt investment securities 7,540 9,379 9,947
Other 916 77 91
Total interest income 249,613 196,759 176,766
Interest expense      
Deposits 85,764 20,245 13,198
Short-term borrowings 11,119 3,070 551
Long-term debt 8,558 7,086 6,736
Total interest expense 105,441 30,401 20,485
Net interest income 144,172 166,358 156,281
Credit loss expense (benefit) 5,849 4,492 (7,336)
Net interest income after credit loss expense (benefit) 138,323 161,866 163,617
Noninterest income      
Investment services and trust activities 12,249 11,223 11,675
Service charges and fees 8,349 7,477 6,259
Card revenue 7,214 7,210 7,015
Loan revenue 4,700 10,504 12,948
Bank-owned life insurance 2,500 2,305 2,162
Investment securities (losses) gains, net (18,789) 271 242
Other 2,200 8,529 2,152
Total noninterest income 18,423 47,519 42,453
Noninterest expense      
Compensation and employee benefits 76,410 78,103 69,937
Occupancy expense of premises, net 10,034 10,272 9,274
Equipment 9,195 8,693 7,816
Legal and professional 7,365 8,646 5,256
Data processing 5,799 5,574 5,216
Marketing 3,610 4,272 4,022
Amortization of intangibles 6,247 6,069 5,357
FDIC insurance 3,294 1,660 1,572
Communications 910 1,125 1,332
Foreclosed assets, net 13 (18) 233
Other 9,036 8,392 6,577
Total noninterest expense 131,913 132,788 116,592
Income before income tax expense 24,833 76,597 89,478
Income tax expense 3,974 15,762 19,992
Net income $ 20,859 $ 60,835 $ 69,486
Per common share information      
Earnings - basic (in dollars per share) $ 1.33 $ 3.89 $ 4.38
Earnings - diluted (in dollars per share) $ 1.33 $ 3.87 $ 4.37