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Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income:        
Interest and fees on loans, including loans held for sale $ 40,636 $ 39,577 $ 121,009 $ 121,306
Interest and dividends on securities        
Taxable 4,083 3,220 9,806 9,133
Tax exempt 783 629 2,317 1,752
Interest and dividends on Federal Reserve Bank and Federal Home Loan Bank stock 122 129 369 407
Interest on Federal Reserve Bank deposits 93 61 285 645
Other, including interest on federal funds sold 9 10 26 50
Total interest income 45,726 43,626 133,812 133,293
Interest expense:        
Interest on deposits 3,119 4,975 9,734 17,229
Interest on repurchase agreements and federal funds purchased 326 691 996 2,472
Interest on long-term debt 267 280 819 1,206
Total interest expense 3,712 5,946 11,549 20,907
Net interest income 42,014 37,680 122,263 112,386
Provision for credit losses (recovery) (163) 2,433 (6,919) 15,091
Net interest income after provision for credit losses (recovery) 42,177 35,247 129,182 97,295
Noninterest income:        
Service charges on deposit accounts 7,066 6,296 19,446 17,179
Gains on sales of loans, net 1,239 2,470 5,579 4,706
Trust and wealth management income 3,039 2,692 9,339 8,145
Loan related fees 1,050 1,383 4,324 2,300
Bank owned life insurance 654 602 1,808 1,739
Brokerage revenue 519 310 1,530 995
Securities gains (losses) (62) 142 50 1,328
Other noninterest income 883 1,016 3,410 2,919
Total noninterest income 14,388 14,911 45,486 39,311
Noninterest expense:        
Officer salaries and employee benefits 4,861 3,115 13,978 8,970
Other salaries and employee benefits 13,992 13,022 40,668 37,351
Occupancy, net 2,087 2,029 6,300 5,952
Equipment 646 695 1,929 2,102
Data processing 1,911 1,936 5,940 5,789
Bank franchise tax 453 1,815 1,178 5,439
Legal fees 245 467 884 1,440
Professional fees 440 534 1,447 1,617
Advertising and marketing 819 797 2,251 1,999
FDIC insurance 393 295 1,042 736
Other real estate owned provision and expense 296 505 1,102 1,975
Repossession expense 83 285 294 595
Amortization of limited partnership investments 839 984 2,514 2,792
Other noninterest expense 3,263 2,994 8,609 8,846
Total noninterest expense 30,328 29,473 88,136 85,603
Income before income taxes 26,237 20,685 86,532 51,003
Income taxes 5,095 3,238 17,841 7,325
Net income 21,142 17,447 68,691 43,678
Unrealized holding gains (losses) on debt securities available-for-sale:        
Unrealized holding gains (losses) arising during the period (9,322) 2,107 (16,703) 12,340
Less: Reclassification adjustments for realized gains on debt securities included in net income 0 24 60 1,069
Tax expense (benefit) (2,423) 541 (4,358) 2,930
Other comprehensive income (loss), net of tax (6,899) 1,542 (12,405) 8,341
Comprehensive income $ 14,243 $ 18,989 $ 56,286 $ 52,019
Basic earnings per share (in dollars per share) $ 1.19 $ 0.98 $ 3.86 $ 2.46
Diluted earnings per share (in dollars per share) $ 1.19 $ 0.98 $ 3.86 $ 2.46
Weighted average shares outstanding-basic (in shares) 17,790 17,746 17,783 17,746
Weighted average shares outstanding-diluted (in shares) 17,808 17,752 17,798 17,753