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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
INTEREST AND DIVIDEND INCOME    
Interest and Fees on Loans $ 40,376 $ 31,886
Interest on Deposits at Banks 2,447 479
Interest and Dividends on Investment Securities:    
Fully Taxable 3,186 2,948
Exempt from Federal Taxes 668 797
Total Interest and Dividend Income 46,677 36,110
INTEREST EXPENSE    
Interest-Bearing Checking Accounts 1,641 370
Savings Deposits 10,230 5,587
Time Deposits over $250,000 1,973 574
Other Time Deposits 5,083 474
Borrowings 1,076 793
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts 171 169
Interest on Financing Leases 48 49
Total Interest Expense 20,222 8,016
NET INTEREST INCOME 26,455 28,094
Provision for Credit Losses 617 1,554
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 25,838 26,540
NON-INTEREST INCOME    
Insurance Commissions 1,682 1,520
Net Gain (Loss) on Securities 17 (104)
Net Gain on Sales of Loans 4 4
Other Operating Income 1,155 387
Total Non-Interest Income 7,858 6,677
NON-INTEREST EXPENSE    
Salaries and Employee Benefits 12,893 11,947
Occupancy Expenses, Net 1,771 1,628
Technology and Equipment Expense 4,820 4,417
FDIC Assessments 715 479
Other Operating Expense 3,813 3,825
Total Non-Interest Expense 24,012 22,296
INCOME BEFORE PROVISION FOR INCOME TAXES 9,684 10,921
Provision for Income Taxes 2,024 2,359
NET INCOME $ 7,660 $ 8,562
Average Shares Outstanding:    
Basic (in shares) [1] 16,865 17,048
Diluted (in shares) [1] 16,867 17,060
Per Common Share:    
Basic Earnings (in dollars per share) $ 0.45 $ 0.50
Diluted Earnings (in dollars per share) $ 0.45 $ 0.50
Income From Fiduciary Activities    
NON-INTEREST INCOME    
Revenue from contract with customer $ 2,457 $ 2,275
Fees for Other Services to Customers    
NON-INTEREST INCOME    
Revenue from contract with customer $ 2,543 $ 2,595
[1] 2023 Share and Per Share Amounts have been restated for the September 26, 2023 3% stock dividend.