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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
INTEREST AND DIVIDEND INCOME      
Interest and Fees on Loans $ 142,016 $ 112,982 $ 104,985
Interest on Deposits at Banks 5,831 3,100 565
Interest and Dividends on Investment Securities:      
Fully Taxable 11,764 10,357 6,487
Exempt from Federal Taxes 2,953 3,212 3,513
Total Interest and Dividend Income 162,564 129,651 115,550
INTEREST EXPENSE      
Interest-Bearing Checking Accounts 3,663 973 731
Savings Deposits 34,343 7,879 1,904
Time Deposits over $250,000 4,966 369 261
Other Time Deposits 7,127 604 632
Borrowings 6,756 605 786
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts 686 685 686
Interest on Financing Leases 191 193 195
Total Interest Expense 57,732 11,308 5,195
NET INTEREST INCOME 104,832 118,343 110,355
Provision for Credit Losses 3,381 4,798 272
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 101,451 113,545 110,083
NONINTEREST INCOME      
Insurance Commissions 6,498 6,463 6,487
Net (Loss) Gain on Securities (92) 427 111
Net Gain on Sales of Loans 32 83 2,393
Other Operating Income 2,437 2,588 1,774
Total Noninterest Income 29,117 30,898 32,369
NONINTEREST EXPENSE      
Salaries and Employee Benefits 47,667 47,003 44,798
Occupancy Expenses, Net 6,554 6,202 5,814
Technology and Equipment Expense 17,608 16,118 14,870
FDIC Assessments 2,050 1,176 1,042
Other Operating Expense 19,169 11,031 11,524
Total Noninterest Expense 93,048 81,530 78,048
Total before tax 37,520 62,913 64,404
Provision for Income Taxes 7,445 14,114 14,547
NET INCOME $ 30,075 $ 48,799 $ 49,857
Average Shares Outstanding:      
Basic (in shares) [1] 17,037 17,008 16,994
Diluted (in shares) [1] 17,037 17,059 17,052
Per Common Share:      
Basic Earnings (in dollars per share) [1] $ 1.77 $ 2.86 $ 2.93
Diluted Earnings (in dollars per share) [1] $ 1.77 $ 2.86 $ 2.92
Income From Fiduciary Activities      
NONINTEREST INCOME      
Revenue from contract with customer $ 9,444 $ 9,711 $ 10,142
Fees for Other Services to Customers      
NONINTEREST INCOME      
Revenue from contract with customer $ 10,798 $ 11,626 $ 11,462
[1]
Share and Per Share Amounts have been restated for the September 26, 2023 3% stock dividend.