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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME/(LOSS) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
INTEREST INCOME:      
Loans, including related fees $ 189,641 $ 146,295 $ 128,000
Securities:      
Taxable 24,643 21,014 13,110
Tax-exempt 10,573 9,974 8,762
Other 3,540 6,018 2,326
TOTAL INTEREST INCOME 228,397 183,301 152,198
INTEREST EXPENSE:      
Deposits 51,694 16,743 8,158
Short-term borrowings 5,370 1,243 387
Other borrowings 4,071 273 252
TOTAL INTEREST EXPENSE 61,135 18,259 8,797
NET INTEREST INCOME 167,262 165,042 143,401
Provision for credit losses 7,295 (2,025) 2,466
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 159,967 167,067 140,935
NON-INTEREST INCOME:      
Trust and financial services 5,155 5,155 5,255
Service charges and fees on deposit accounts 28,079 27,540 24,700
Other service charges and fees 801 665 1,163
Securities gains/(losses), net (1) 3 114
Interchange income 676 559 438
Loan servicing fees 1,176 1,554 1,849
Gain on sales of mortgage loans 966 1,994 5,003
Other 5,850 9,246 3,562
TOTAL NON-INTEREST INCOME 42,702 46,716 42,084
NON-INTEREST EXPENSE:      
Salaries and employee benefits 68,525 65,555 64,474
Occupancy expense 9,351 9,764 8,774
Equipment expense 14,020 12,391 10,174
FDIC Expense 2,907 2,327 1,294
Other 35,373 35,986 32,690
TOTAL NON-INTEREST EXPENSE 130,176 126,023 117,406
INCOME BEFORE INCOME TAXES 72,493 87,760 65,613
Provision for income taxes 11,821 16,651 12,626
NET INCOME 60,672 71,109 52,987
OTHER COMPREHENSIVE INCOME (LOSS)      
Change in unrealized gains/(losses) on securities, net of reclassifications and taxes 10,896 (144,570) (18,488)
Change in funded status of post retirement benefits, net of taxes 1,991 7,022 6,298
COMPREHENSIVE INCOME (LOSS) $ 73,559 $ (66,439) $ 40,797
PER SHARE DATA      
Basic Earnings per Share (in dollars per share) $ 5.08 $ 5.82 $ 4.02
Diluted Earnings per Share (in dollars per share) $ 5.08 $ 5.82 $ 4.02
Weighted average number of shares outstanding, basic (in shares) 11,937 12,211 13,190
Weighted average number of shares outstanding, diluted (in shares) 11,937 12,211 13,190