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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest income:      
Loans $ 144,803 $ 158,450 $ 170,288
Taxable investment securities 13,312 4,172 167
Tax-exempt investment securities 37,730 33,416 16,856
MBS 19,534 34,319 50,486
FHLB stock and equity investments 530 1,233 1,654
Other interest earning assets 78 238 1,336
Total interest income 215,987 231,828 240,787
Interest expense:      
Deposits 9,404 24,648 44,565
FHLB borrowings 7,348 11,397 17,719
Subordinated notes 8,246 6,301 5,661
Trust preferred subordinated debentures 1,390 1,829 2,775
Other borrowings 42 388 262
Total interest expense 26,430 44,563 70,982
Net interest income 189,557 187,265 169,805
Provision for (reversal of) credit losses (16,964) 20,201 5,101
Net interest income after provision for credit losses 206,521 167,064 164,704
Noninterest income:      
Deposit services 26,368 24,359 26,038
Net gain (loss) on sale of securities available for sale 3,862 8,257 756
Gain on sale of loans 1,641 2,772 509
Trust fees 5,959 5,133 6,269
BOLI 2,618 2,554 2,307
Brokerage services 3,383 2,271 2,080
Other 5,505 4,386 4,409
Total noninterest income 49,336 49,732 42,368
Noninterest expense:      
Salaries and employee benefits 79,892 77,225 73,731
Net occupancy 14,239 14,369 13,128
Advertising, travel & entertainment 2,367 2,147 2,964
ATM expense 1,166 1,018 894
Professional fees 4,015 4,224 4,717
Software and data processing 5,675 4,957 4,537
Communications 2,233 1,984 1,941
FDIC insurance 1,807 1,124 859
Amortization of intangibles 2,849 3,617 4,418
Loss on redemption of subordinated notes 1,118 0 0
Other 9,669 12,642 12,108
Total noninterest expense 125,030 123,307 119,297
Income before income tax expense 130,827 93,489 87,775
Income tax expense 17,426 11,336 13,221
Net income $ 113,401 $ 82,153 $ 74,554
Earnings per common share - basic (in dollars per share) $ 3.48 $ 2.47 $ 2.21
Earnings per common share - diluted (in dollars per share) 3.47 2.47 2.20
Cash dividends paid per common share $ 1.37 $ 1.30 $ 1.26