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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
INTEREST AND DIVIDEND INCOME        
Interest and Fees on Loans $ 29,618 $ 27,157 $ 82,263 $ 79,354
Interest on Deposits at Banks 1,201 163 1,826 351
Interest and Dividends on Investment Securities:        
Fully Taxable 2,603 1,632 7,236 4,809
Exempt from Federal Taxes 785 855 2,422 2,682
Total Interest and Dividend Income 34,207 29,807 93,747 87,196
INTEREST EXPENSE        
Interest-Bearing Checking Accounts 267 155 629 566
Savings Deposits 2,469 424 3,778 1,490
Time Deposits over $250,000 89 39 143 228
Other Time Deposits 150 133 370 511
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase 0 0 0 3
Federal Home Loan Bank Advances 110 197 405 586
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts 173 173 513 513
Interest on Financing Leases 48 48 145 146
Total Interest Expense 3,306 1,169 5,983 4,043
NET INTEREST INCOME 30,901 28,638 87,764 83,153
Provision for Credit Losses 1,715 99 3,389 (286)
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 29,186 28,539 84,375 83,439
NONINTEREST INCOME        
Insurance Commissions 1,650 1,576 4,783 4,842
Net Gain (Loss) on Securities 95 (106) 379 250
Net Gain on Sales of Loans 18 211 80 2,251
Other Operating Income 652 476 2,121 1,405
Total Noninterest Income 7,827 7,694 23,733 24,780
NONINTEREST EXPENSE        
Salaries and Employee Benefits 12,427 11,377 35,400 33,360
Occupancy Expenses, Net 1,521 1,403 4,721 4,480
Technology and Equipment Expense 4,049 3,833 11,802 11,002
FDIC Assessments 295 249 893 764
Other Operating Expense 3,156 2,561 7,922 7,582
Total Noninterest Expense 21,448 19,423 60,738 57,188
INCOME BEFORE PROVISION FOR INCOME TAXES 15,565 16,810 47,370 51,031
Provision for Income Taxes 3,402 3,821 10,658 11,483
NET INCOME $ 12,163 $ 12,989 $ 36,712 $ 39,548
Average Shares Outstanding:        
Basic (in shares) [1] 16,512 16,508 16,506 16,495
Diluted (in shares) [1] 16,558 16,568 16,553 16,554
Per Common Share:        
Basic Earnings (in dollars per share) $ 0.74 $ 0.79 $ 2.22 $ 2.40
Diluted Earnings (in dollars per share) $ 0.74 $ 0.78 $ 2.22 $ 2.39
Income From Fiduciary Activities        
NONINTEREST INCOME        
Revenue from contract with customer $ 2,341 $ 2,571 $ 7,454 $ 7,538
Fees for Other Services to Customers        
NONINTEREST INCOME        
Revenue from contract with customer $ 3,071 $ 2,966 $ 8,916 $ 8,494
[1] Share and Per Share Amounts have been restated for the September 23, 2022 3% stock dividend.