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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Interest income:        
Loans and leases $ 69,027 $ 61,696 $ 184,650 $ 176,704
Investment securities, taxable 6,691 4,533 19,324 12,676
Investment securities, tax-exempt 339 140 630 468
Other 421 360 1,952 943
Total interest income 76,478 66,729 206,556 190,791
Interest expense:        
Deposits 6,556 2,924 12,485 9,652
Short-term borrowings 380 25 427 90
Subordinated notes 904 816 2,578 2,448
Long-term debt and mandatorily redeemable securities (296) 740 (948) 2,030
Total interest expense 7,544 4,505 14,542 14,220
Net interest income 68,934 62,224 192,014 176,571
Provision (recovery of provision) for credit losses 3,167 (2,559) 7,903 (3,186)
Net interest income after provision for loan and lease losses 65,767 64,783 184,111 179,757
Noninterest income:        
Mortgage banking 864 3,149 3,303 9,909
Insurance commissions 1,695 1,862 5,168 5,698
Equipment rental 2,761 3,946 9,718 12,830
Losses on investment securities available-for-sale 0 0 0 (680)
Other 3,321 3,317 9,937 9,446
Total noninterest income 22,007 25,497 67,982 76,264
Noninterest expense:        
Salaries and employee benefits 26,386 26,974 77,415 77,680
Net occupancy 2,582 2,654 7,917 7,900
Furniture and equipment 1,372 1,494 4,051 4,388
Information Technology and Data Processing 5,802 4,950 16,412 14,851
Depreciation - leased equipment 2,233 3,239 7,912 10,562
Professional fees 1,539 1,815 5,241 5,574
FDIC and other insurance 939 396 2,682 1,833
Business development and marketing 1,415 4,465 4,352 6,813
Other 3,063 2,077 10,340 7,801
Total noninterest expense 45,331 48,064 136,322 137,402
Income before income taxes 42,443 42,216 115,771 118,619
Income tax expense 9,698 9,735 26,295 27,797
Net income 32,745 32,481 89,476 90,822
Net (income) loss attributable to noncontrolling interests (8) 2 (35) (11)
Net income available to common shareholders $ 32,737 $ 32,483 $ 89,441 $ 90,811
Per common share:        
Basic net income per common share (in dollars per share) $ 1.32 $ 1.29 $ 3.59 $ 3.59
Diluted net income per common share (in dollars per share) 1.32 1.29 3.59 3.59
Cash dividends (in dollars per share) $ 0.32 $ 0.31 $ 0.94 $ 0.90
Basic weighted average common shares outstanding (in shares) 24,656,736 24,919,956 24,697,106 25,126,703
Diluted weighted average common shares outstanding (in shares) 24,656,736 24,919,956 24,697,106 25,126,703
Trust and wealth advisory        
Noninterest income:        
Trust and wealth advisory, service charges on deposit accounts, and debit card income $ 5,498 $ 5,886 $ 17,499 $ 17,833
Service charges on deposit accounts        
Noninterest income:        
Trust and wealth advisory, service charges on deposit accounts, and debit card income 3,240 2,767 8,974 7,722
Debit card        
Noninterest income:        
Trust and wealth advisory, service charges on deposit accounts, and debit card income $ 4,628 $ 4,570 $ 13,383 $ 13,506