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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        
Interest and Fees on Loans $ 43,128 $ 35,483 $ 122,050 $ 105,091
Interest on Federal Funds Sold and Other Short-term Investments 2,053 141 3,565 329
Interest and Dividends on Securities:        
Taxable 5,276 3,261 14,909 9,391
Non-taxable 6,067 4,690 17,541 12,583
TOTAL INTEREST INCOME 56,524 43,575 158,065 127,394
INTEREST EXPENSE        
Interest on Deposits 3,597 1,139 6,475 3,850
Interest on FHLB Advances and Other Borrowings 1,229 1,149 3,387 3,445
TOTAL INTEREST EXPENSE 4,826 2,288 9,862 7,295
NET INTEREST INCOME 51,698 41,287 148,203 120,099
Provision (Benefit) for Credit Losses 350 (2,000) 5,850 (8,500)
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 51,348 43,287 142,353 128,599
NON-INTEREST INCOME        
Company Owned Life Insurance 416 493 1,768 1,230
Other Operating Income 1,365 2,595 3,858 5,287
Net Gains on Sales of Loans 854 2,197 3,324 6,417
Net Gains on Securities 23 218 473 1,493
TOTAL NON-INTEREST INCOME 14,097 15,556 45,465 44,495
NON-INTEREST EXPENSE        
Salaries and Employee Benefits 19,751 17,274 63,223 51,454
Occupancy Expense 2,764 2,530 8,446 8,735
Furniture and Equipment Expense 921 923 2,820 2,896
FDIC Premiums 477 383 1,418 1,046
Data Processing Fees 2,712 2,006 12,896 5,528
Professional Fees 1,188 1,357 5,124 4,030
Advertising and Promotion 1,215 897 3,380 2,384
Intangible Amortization 897 661 2,871 2,132
Other Operating Expenses 4,791 6,413 18,399 14,535
TOTAL NON-INTEREST EXPENSE 34,716 32,444 118,577 92,740
Income before Income Taxes 30,729 26,399 69,241 80,354
Income Tax Expense 6,133 4,913 11,831 15,489
NET INCOME $ 24,596 $ 21,486 $ 57,410 $ 64,865
Basic Earnings Per Share (in dollars per share) $ 0.83 $ 0.81 $ 1.95 $ 2.44
Diluted Earnings Per Share (in dollars per share) $ 0.83 $ 0.81 $ 1.95 $ 2.44
Wealth Management Fees        
NON-INTEREST INCOME        
Non-interest income $ 2,376 $ 2,690 $ 7,656 $ 7,668
Service Charges on Deposit Accounts        
NON-INTEREST INCOME        
Non-interest income 3,014 2,017 8,568 5,430
Insurance Revenues        
NON-INTEREST INCOME        
Non-interest income 1,995 2,007 7,970 7,319
Interchange Fee Income        
NON-INTEREST INCOME        
Non-interest income $ 4,054 $ 3,339 $ 11,848 $ 9,651