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Consolidated Statements of Income
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2020
USD ($)
$ / shares
shares
Dec. 31, 2019
USD ($)
$ / shares
shares
Dec. 31, 2018
USD ($)
$ / shares
shares
INTEREST AND DIVIDEND INCOME      
Interest and Fees on Loans $ 100,492 $ 95,467 $ 81,647
Interest on Deposits at Banks 321 722 711
Interest and Dividends on Investment Securities:      
Fully Taxable 7,131 8,883 8,582
Exempt from Federal Taxes 3,952 4,687 5,563
Total Interest and Dividend Income 111,896 109,759 96,503
INTEREST EXPENSE      
Interest-Bearing Checking Accounts 1,292 1,985 1,618
Savings Deposits 5,090 8,399 3,457
Time Deposits over $250,000 1,465 1,932 1,183
Other Time Deposits 2,782 4,224 1,420
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase 60 100 62
Federal Home Loan Bank Advances 1,063 3,952 3,779
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts 746 1,019 966
Interest on Financing Leases 196 99 0
Total Interest Expense 12,694 21,710 12,485
NET INTEREST INCOME 99,202 88,049 84,018
Provision 9,319 2,079 2,607
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 89,883 85,970 81,411
NONINTEREST INCOME      
Insurance Commissions 6,876 7,182 7,888
Net (Loss) Gain on Securities (464) 289 213
Net Gain on Sales of Loans 3,889 622 135
Other Operating Income 3,464 1,477 1,324
Total Noninterest Income 32,658 28,555 28,949
NONINTEREST EXPENSE      
Salaries and Employee Benefits 42,061 38,402 38,788
Occupancy Expenses, Net 5,614 5,407 5,026
Technology and Equipment Expense 12,976 13,054 11,284
FDIC Assessments 1,063 157 881
Other Operating Expense 8,964 10,430 9,076
Total Noninterest Expense 70,678 67,450 65,055
INCOME BEFORE PROVISION FOR INCOME TAXES 51,863 47,075 45,305
Provision for Income Taxes 11,036 9,600 9,026
NET INCOME $ 40,827 $ 37,475 $ 36,279
Average Shares Outstanding:      
Basic (in shares) | shares 15,465 [1] 15,388 [1] 15,285 [1]
Diluted (in shares) | shares 15,479 [1] 15,433 [1] 15,370 [1]
Per Common Share:      
Basic Earnings (in dollars per share) | $ / shares $ 2.64 [1] $ 2.44 [1] $ 2.37 [1]
Diluted Earnings (in dollars per share) | $ / shares $ 2.64 [1] $ 2.43 [1] $ 2.36 [1]
Stock dividend, percent 300.00% [2] 300.00% 300.00%
Fiduciary and Trust      
NONINTEREST INCOME      
Income From Fiduciary Activities $ 8,890 $ 8,809 $ 9,255
Deposit Account      
NONINTEREST INCOME      
Income From Fiduciary Activities $ 10,003 $ 10,176 $ 10,134
[1] Share and Per Share Amounts have been restated for the September 25, 2020 3% stock dividend.
[2] Included in the shares issued for the 3% stock dividend in 2020 were treasury shares of 137,041