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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - 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 income:        
Interest and fees on loans $ 75,989 $ 70,896 $ 227,865 $ 196,094
Interest on mortgage loans held for sale 366 332 1,013 725
Taxable interest on debt securities 6,795 7,271 20,835 21,868
Dividends on Federal Home Loan Bank stock 1,262 878 3,459 2,333
Other interest income 3,174 1,344 5,667 3,693
Total interest and dividend income 87,586 80,721 258,839 224,713
Interest expense:        
Deposits 37,203 34,069 111,963 83,362
Federal Home Loan Bank advances 17,717 12,497 50,151 35,775
Junior subordinated debentures 404 404 1,213 1,132
Total interest expense 55,324 46,970 163,327 120,269
Net interest income [1] 32,262 33,751 95,512 104,444
Provision for credit losses 200 500 1,400 2,000
Net interest income after provision for credit losses 32,062 33,251 94,112 102,444
Noninterest income:        
Wealth management revenues [1] 9,989 8,948 29,005 26,659
Mortgage banking revenues [1] 2,866 2,108 8,133 5,106
Card interchange fees [1] 1,321 1,267 3,741 3,667
Service charges on deposit accounts [1] 784 674 2,238 2,118
Loan related derivative income [1] 126 1,082 459 1,278
Income from bank-owned life insurance [1] 770 710 2,262 2,754
Other income [1] 416 437 4,257 1,252
Total noninterest income [1] 16,272 15,226 50,095 42,834
Noninterest expense:        
Salaries and employee benefits 21,350 21,622 64,385 63,994
Outsourced services 4,185 3,737 12,061 10,854
Net occupancy 2,399 2,387 7,357 7,240
Equipment 924 1,107 2,902 3,185
Legal, audit and professional fees 836 1,058 2,283 2,932
FDIC deposit insurance costs 1,402 1,185 4,247 3,428
Advertising and promotion 857 789 2,066 1,624
Amortization of intangibles 206 211 622 635
Other expenses 2,345 2,294 6,854 7,078
Total noninterest expense 34,504 34,390 102,777 100,970
Income before income taxes 13,830 14,087 41,430 44,308
Income tax expense 2,849 2,926 8,698 9,079
Net income 10,981 11,161 32,732 35,229
Net income available to common shareholders $ 10,973 $ 11,140 $ 32,732 $ 35,160
Weighted average common shares outstanding - basic 17,058 17,019 17,048 17,034
Weighted average common shares outstanding - diluted 17,140 17,041 17,115 17,063
Per share information:        
Basic earnings per common share $ 0.64 $ 0.65 $ 1.92 $ 2.06
Diluted earnings per common share $ 0.64 $ 0.65 $ 1.91 $ 2.06
[1] As reported in the Unaudited Consolidated Statements of Income.