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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest and dividend income:        
Interest and fees on loans $ 40,157,000 $ 34,669,000 $ 78,043,000 $ 69,185,000
Interest on interest-earning deposits 111,000 125,000 282,000 173,000
Interest on investment securities 1,419,000 794,000 2,426,000 1,421,000
Dividend income on FHLB stock 222,000 225,000 449,000 417,000
Interest on federal funds sold and other 429,000 158,000 704,000 315,000
Total interest income 42,338,000 35,971,000 81,904,000 71,511,000
Interest expense:        
Interest on savings deposits, now and money market accounts 844,000 708,000 1,562,000 1,406,000
Interest on time deposits 1,506,000 2,410,000 3,080,000 5,374,000
Interest on subordinated debentures and long-term debt 2,379,000 2,356,000 4,727,000 4,314,000
Interest on other borrowed funds 519,000 440,000 954,000 875,000
Total interest expense 5,248,000 5,914,000 10,323,000 11,969,000
Net interest income 37,090,000 30,057,000 71,581,000 59,542,000
Provision for loan losses 915,000 628,000 1,281,000 2,128,000
Net interest income after provision for loan losses 36,175,000 29,429,000 70,300,000 57,414,000
Noninterest income:        
Service charges, fees and other 1,382,000 1,332,000 2,622,000 2,800,000
Gain on sale of loans 344,000 2,572,000 1,518,000 6,413,000
Loan servicing fees, net of amortization 472,000 118,000 904,000 364,000
Recoveries on loans acquired in business combinations 98,000 5,000 103,000 10,000
Unrealized loss on equity investments 0 (35,000) 0 (55,000)
Gain (Loss) on derivatives 39,000 (38,000) (194,000) 129,000
Increase in cash surrender value of life insurance 330,000 217,000 654,000 404,000
Gain on sale of fixed assets 757,000 0 757,000 0
Noninterest Income, Total 3,422,000 4,171,000 6,364,000 10,065,000
Noninterest expense:        
Salaries and employee benefits 9,628,000 8,742,000 18,997,000 17,984,000
Occupancy and equipment expenses 2,174,000 2,135,000 4,380,000 4,377,000
Data processing 1,293,000 1,231,000 2,551,000 2,671,000
Legal and professional 2,254,000 536,000 3,260,000 1,341,000
Office expenses 358,000 272,000 651,000 527,000
Marketing and business promotion 501,000 231,000 808,000 415,000
Insurance and regulatory assessments 478,000 354,000 919,000 702,000
Core deposit premium 277,000 287,000 556,000 588,000
OREO expenses 5,000 4,000 13,000 9,000
Merger expenses 23,000 17,000 60,000 59,000
Other expenses 621,000 871,000 1,476,000 1,799,000
Noninterest Expense, Total 17,612,000 14,680,000 33,671,000 30,472,000
Income before income taxes 21,985,000 18,920,000 42,993,000 37,007,000
Income tax expense 6,508,000 5,540,000 12,899,000 11,171,000
Net income $ 15,477,000 $ 13,380,000 $ 30,094,000 $ 25,836,000
Net income per share        
Basic (in dollars per share) $ 0.81 $ 0.69 $ 1.56 $ 1.32
Diluted (in dollars per share) 0.80 0.67 1.54 1.30
Cash dividends declared per common share (in dollars per share) $ 0.14 $ 0.13 $ 0.28 $ 0.25