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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
INTEREST AND DIVIDEND INCOME        
Interest and Fees on Loans $ 27,157 $ 24,706 $ 79,354 $ 74,657
Interest on Deposits at Banks 163 64 351 229
Interest and Dividends on Investment Securities:        
Fully Taxable 1,632 1,557 4,809 5,621
Exempt from Federal Taxes 855 969 2,682 3,017
Total Interest and Dividend Income 29,807 27,296 87,196 83,524
INTEREST EXPENSE        
Interest-Bearing Checking Accounts 155 264 566 1,061
Savings Deposits 424 806 1,490 4,450
Time Deposits over $250,000 39 292 228 1,263
Other Time Deposits 133 576 511 2,360
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase 0 17 3 55
Federal Home Loan Bank Advances 197 219 586 865
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts 173 173 513 574
Interest on Financing Leases 48 49 146 148
Total Interest Expense 1,169 2,396 4,043 10,776
NET INTEREST INCOME 28,638 24,900 83,153 72,748
Provision for Credit Losses 99 2,271 (286) 8,083
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 28,539 22,629 83,439 64,665
NONINTEREST INCOME        
Insurance Commissions 1,576 1,713 4,842 5,077
Net (Loss) Gain on Securities (106) (72) 250 (552)
Net Gain on Sales of Loans 211 1,433 2,251 2,193
Other Operating Income 476 739 1,405 2,876
Total Noninterest Income 7,694 8,697 24,780 23,555
NONINTEREST EXPENSE        
Salaries and Employee Benefits 11,377 10,408 33,360 31,003
Occupancy Expenses, Net 1,403 1,427 4,480 4,221
Technology and Equipment Expense 3,833 3,228 11,002 9,807
FDIC Assessments 249 309 764 770
Other Operating Expense 2,561 2,115 7,582 6,685
Total Noninterest Expense 19,423 17,487 57,188 52,486
INCOME BEFORE PROVISION FOR INCOME TAXES 16,810 13,839 51,031 35,734
Provision for Income Taxes 3,821 2,793 11,483 7,402
NET INCOME $ 12,989 $ 11,046 $ 39,548 $ 28,332
Average Shares Outstanding:        
Basic (in shares) [1] 16,027 15,936 16,015 15,917
Diluted (in shares) [1] 16,085 15,946 16,072 15,931
Per Common Share:        
Basic Earnings (in dollars per share) $ 0.81 $ 0.69 $ 2.47 $ 1.78
Diluted Earnings (in dollars per share) $ 0.81 $ 0.69 $ 2.46 $ 1.78
Income From Fiduciary Activities        
NONINTEREST INCOME        
Revenue from contract with customer $ 2,571 $ 2,265 $ 7,538 $ 6,613
Fees for Other Services to Customers        
NONINTEREST INCOME        
Revenue from contract with customer $ 2,966 $ 2,619 $ 8,494 $ 7,348
[1] 2020 Share and Per Share Amounts have been restated for the September 24, 2021 3% stock dividend.