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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
INTEREST AND DIVIDEND INCOME:    
Interest and fees on loans $ 41,150 $ 38,408
Processing fees on PPP loans 1,237 2,731
Securities:    
Taxable 3,614 2,661
Tax-exempt 219 351
Dividends 34 144
Total interest and dividend income 46,254 44,295
INTEREST EXPENSE:    
Deposits 2,706 4,280
Finance lease liabilities 5 6
Subordinated notes and debentures (includes $67 and $69 accumulated other comprehensive income reclassification for change in fair value of interest rate swap agreements, respectively) 926 888
Total interest expense 3,637 5,174
NET INTEREST INCOME 42,617 39,121
PROVISION FOR CREDIT LOSS EXPENSE 1,643 2,122
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSS EXPENSE 40,974 36,999
NON-INTEREST INCOME:    
Service charges on deposit accounts 1,757 1,348
Other service charges and fees 655 490
Wealth and asset management fees 1,783 1,522
Net realized gains on available-for-sale securities (includes $651 and $0 accumulated other comprehensive income reclassifications for net realized gains on available-for-sale securities, respectively) 651 0
Net realized and unrealized gains (losses) on equity securities (394) 120
Mortgage banking 475 1,235
Bank owned life insurance 694 940
Card processing and interchange income 1,809 1,834
Other 2,224 750
Total non-interest income 9,654 8,239
NON-INTEREST EXPENSES:    
Compensation and benefits 16,988 14,573
Net occupancy expense 3,230 3,269
Amortization of core deposit intangible 25 28
Technology expense 3,372 2,670
State and local taxes 1,048 1,017
Legal, professional, and examination fees 837 1,153
Advertising 620 281
FDIC insurance premiums 723 616
Dues and subscriptions 600 453
Card processing and interchange expenses 1,029 680
Other 3,420 3,064
Total non-interest expenses 31,892 27,804
INCOME BEFORE INCOME TAXES 18,736 17,434
INCOME TAX EXPENSE (includes $124 and $(14) income tax expense from reclassification items, respectively) 3,491 3,253
NET INCOME 15,245 14,181
PREFERRED STOCK DIVIDENDS 1,075 1,075
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 14,170 $ 13,106
EARNINGS PER COMMON SHARE:    
Basic (in dollars per share) $ 0.84 $ 0.78
Diluted (in dollars per share) 0.84 0.78
DIVIDENDS PER COMMON SHARE:    
Cash dividends per share (in dollars per share) $ 0.175 $ 0.170