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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
INTEREST AND DIVIDEND INCOME        
Interest and Fees on Loans $ 27,014 $ 25,077 $ 52,197 $ 49,951
Interest on Deposits at Banks 103 41 188 165
Interest and Dividends on Investment Securities:        
Fully Taxable 1,671 1,871 3,177 4,064
Exempt from Federal Taxes 907 1,013 1,827 2,048
Total Interest and Dividend Income 29,695 28,002 57,389 56,228
INTEREST EXPENSE        
Interest-Bearing Checking Accounts 192 310 411 797
Savings Deposits 501 1,173 1,066 3,644
Time Deposits over $250,000 69 438 189 971
Other Time Deposits 156 784 378 1,784
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase 1 16 3 38
Federal Home Loan Bank Advances 196 217 389 646
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts 171 173 340 401
Interest on Financing Leases 49 49 98 99
Total Interest Expense 1,335 3,160 2,874 8,380
NET INTEREST INCOME 28,360 24,842 54,515 47,848
Provision for Credit Losses 263 3,040 (385) 5,812
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 28,097 21,802 54,900 42,036
NONINTEREST INCOME        
Insurance Commissions 1,626 1,732 3,266 3,364
Net Gain (Loss) on Securities 196 (106) 356 (480)
Net Gain on Sales of Loans 625 547 2,040 760
Other Operating Income 523 578 929 2,137
Total Noninterest Income 8,478 7,164 17,086 14,858
NONINTEREST EXPENSE        
Salaries and Employee Benefits 10,845 10,212 21,983 20,595
Occupancy Expenses, Net 1,484 1,345 3,077 2,794
Technology and Equipment Expense 3,710 3,227 7,169 6,579
FDIC Assessments 245 242 515 461
Other Operating Expense 2,803 2,219 5,021 4,570
Total Noninterest Expense 19,087 17,245 37,765 34,999
INCOME BEFORE PROVISION FOR INCOME TAXES 17,488 11,721 34,221 21,895
Provision for Income Taxes 4,209 2,562 7,662 4,609
NET INCOME $ 13,279 $ 9,159 $ 26,559 $ 17,286
Average Shares Outstanding:        
Basic (in shares) [1] 15,557 15,441 15,543 15,444
Diluted (in shares) [1] 15,616 15,448 15,589 15,460
Per Common Share:        
Basic Earnings (in dollars per share) $ 0.85 $ 0.59 $ 1.71 $ 1.12
Diluted Earnings (in dollars per share) $ 0.85 $ 0.59 $ 1.70 $ 1.12
Income From Fiduciary Activities        
NONINTEREST INCOME        
Revenue from contract with customer $ 2,589 $ 2,135 $ 4,967 $ 4,348
Fees for Other Services to Customers        
NONINTEREST INCOME        
Revenue from contract with customer $ 2,919 $ 2,278 $ 5,528 $ 4,729
[1] 2020 Share and Per Share Amounts have been restated for the September 25, 2020 3% stock dividend.