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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
INTEREST AND DIVIDEND INCOME        
Interest and Fees on Loans $ 44,122 $ 36,699 $ 126,639 $ 103,203
Interest on Deposits at Banks 2,103 1,805 6,735 3,958
Interest and Dividends on Investment Securities:        
Fully Taxable 2,656 2,924 8,851 8,823
Exempt from Federal Taxes 562 689 1,867 2,256
Total Interest and Dividend Income 49,443 42,117 144,092 118,240
INTEREST EXPENSE        
Interest-Bearing Checking Accounts 1,966 1,156 5,510 2,346
Savings Deposits 10,905 9,729 31,706 23,830
Time Deposits over $250,000 1,803 1,466 5,645 3,159
Other Time Deposits 4,934 2,051 15,091 3,721
Borrowings 1,177 2,143 3,439 5,309
Junior Subordinated Obligations Issued to Unconsolidated Subsidiary Trusts 173 173 514 513
Interest on Financing Leases 47 46 142 143
Total Interest Expense 21,005 16,764 62,047 39,021
NET INTEREST INCOME 28,438 25,353 82,045 79,219
Provision for Credit Losses on Loans 934 354 2,326 2,856
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 27,504 24,999 79,719 76,363
NON-INTEREST INCOME        
Insurance Commissions 1,955 1,695 5,299 4,775
Net Gain (Loss) on Securities 94 71 165 (214)
Net Gain on Sales of Loans 126 21 135 25
Other Operating Income 648 1,124 2,781 1,893
Total Non-Interest Income 8,133 8,050 23,847 21,633
NON-INTEREST EXPENSE        
Salaries and Employee Benefits 13,446 11,988 39,375 35,974
Occupancy Expenses, Net 1,754 1,517 5,299 4,728
Technology and Equipment Expense 4,692 4,371 14,246 13,150
FDIC Assessments 698 515 2,111 1,478
Other Operating Expense 3,510 5,088 10,399 14,528
Total Non-Interest Expense 24,100 23,479 71,430 69,858
INCOME BEFORE PROVISION FOR INCOME TAXES 11,537 9,570 32,136 28,138
Provision for Income Taxes 2,562 1,827 6,897 5,786
NET INCOME $ 8,975 $ 7,743 $ 25,239 $ 22,352
Average Shares Outstanding:        
Basic (in shares) 16,710 17,050 16,746 17,049
Diluted (in shares) 16,742 17,050 16,772 17,049
Per Common Share:        
Basic Earnings (in dollars per share) $ 0.54 $ 0.46 $ 1.51 $ 1.31
Diluted Earnings (in dollars per share) $ 0.53 $ 0.46 $ 1.50 $ 1.31
Income From Fiduciary Activities        
NON-INTEREST INCOME        
Revenue from contract with customer $ 2,429 $ 2,378 $ 7,337 $ 7,081
Fees for Other Services to Customers        
NON-INTEREST INCOME        
Revenue from contract with customer $ 2,881 $ 2,761 $ 8,130 $ 8,073