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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 22,578 $ 24,228 $ 69,960 $ 73,071
Taxable securities 3,222 1,263 7,452 4,088
Tax exempt securities 2,430 1,954 6,846 5,689
Dividends 113 138 355 415
Federal funds sold and other interest income 32 52 161 231
TOTAL INTEREST AND DIVIDEND INCOME 28,375 27,635 84,774 83,494
INTEREST EXPENSE        
Deposits 1,346 3,153 5,401 11,652
Short-term borrowings 0 14 7 352
Long-term borrowings 495 303 1,075 1,102
TOTAL INTEREST EXPENSE 1,841 3,470 6,483 13,106
NET INTEREST INCOME 26,534 24,165 78,291 70,388
Provision (credit) for credit losses (947) 2,600 (472) 6,100
Provision (credit) for unfunded loans (1) 0 (1) 0
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 27,482 21,565 78,764 64,288
NONINTEREST INCOME        
Bank owned life insurance income, including death benefit 340 196 924 608
Security gains (losses), including fair value changes for equity securities 459 70 979 201
Net gains on sale of loans 1,466 3,119 6,557 7,754
Other mortgage banking income , net 32 (21) (138) (194)
Other operating income 560 450 2,039 1,436
TOTAL NONINTEREST INCOME 9,015 9,217 28,706 25,662
NONINTEREST EXPENSES        
Salaries and employee benefits 9,321 10,244 29,163 30,188
Occupancy and equipment 1,899 1,719 6,064 5,194
State and local taxes 552 576 1,657 1,623
Professional fees 1,009 753 2,895 2,392
Merger related costs 472 58 588 1,425
Advertising 391 460 847 1,053
FDIC insurance 140 200 430 650
Intangible amortization 316 332 948 995
Core processing charges 860 925 2,318 2,720
Telephone and data 117 182 394 733
Other operating expenses 2,051 2,021 6,262 6,413
TOTAL NONINTEREST EXPENSES 17,128 17,470 51,566 53,386
INCOME BEFORE INCOME TAXES 19,369 13,312 55,904 36,564
INCOME TAXES 3,358 2,443 9,762 6,045
NET INCOME $ 16,011 $ 10,869 $ 46,142 $ 30,519
EARNINGS PER SHARE - basic $ 0.57 $ 0.39 $ 1.63 $ 1.08
EARNINGS PER SHARE - fully diluted $ 0.56 $ 0.38 $ 1.63 $ 1.07
Service Charges on Deposit Accounts        
NONINTEREST INCOME        
Noninterest income $ 924 $ 904 $ 2,522 $ 2,752
Trust Fees        
NONINTEREST INCOME        
Noninterest income 2,335 1,973 6,929 5,682
Insurance Agency Commissions        
NONINTEREST INCOME        
Noninterest income 799 784 2,748 2,348
Retirement Plan Consulting Fees        
NONINTEREST INCOME        
Noninterest income 334 341 1,043 1,129
Investment Commissions        
NONINTEREST INCOME        
Noninterest income 638 353 1,665 1,080
Debit Card and EFT Fees        
NONINTEREST INCOME        
Noninterest income $ 1,128 $ 1,048 $ 3,438 $ 2,866