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Quarterly Information
12 Months Ended
Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Information Quarterly Information
The following tables provide unaudited financial information by quarter for each of the past two years:
Dollars in thousands except per share data2020Q12020Q22020Q32020Q42021Q12021Q22021Q32021Q4
Balance Sheets
Cash and cash equivalents$21,117 $22,143 $22,742 $26,212 $20,029 $27,092 $27,126 $20,634 
Interest-bearing deposits in other banks6,047 21,907 48,111 56,151 104,602 42,215 93,779 66,678 
Investments654,520 653,462 672,102 678,989 679,889 682,428 684,923 690,606 
Restricted equity securities9,994 10,545 10,545 10,545 10,105 8,839 8,839 5,365 
Net loans and loans held for sale1,332,911 1,442,463 1,427,662 1,466,363 1,503,700 1,572,377 1,601,142 1,632,963 
Other assets111,807 116,604 115,464 122,976 118,543 117,492 113,782 110,853 
Total assets$2,136,396 $2,267,124 $2,296,626 $2,361,236 $2,436,868 $2,450,443 $2,529,591 $2,527,099 
Deposits$1,644,612 $1,740,121 $1,763,059 $1,844,611 $1,953,557 $1,961,321 $2,033,213 $2,123,297 
Borrowed funds248,040 278,805 283,787 262,038 229,648 228,648 233,201 136,342 
Other liabilities28,487 31,614 30,340 30,861 25,479 26,319 24,440 21,803 
Shareholders' equity215,257 216,584 219,440 223,726 228,184 234,155 238,737 245,657 
  Total liabilities
   & equity
$2,136,396 $2,267,124 $2,296,626 $2,361,236 $2,436,868 $2,450,443 $2,529,591 $2,527,099 
Income and Comprehensive Income Statements
Interest income$20,694 $18,786 $18,506 $19,133 $18,953 $18,541 $19,588 $19,999 
Interest expense5,776 4,295 3,761 3,454 3,080 2,818 2,577 2,303 
Net interest income14,918 14,491 14,745 15,679 15,873 15,723 17,011 17,696 
   Provision for loan losses400 2,350 1,800 1,500 525 525 525 (1,950)
Net interest income after provision for loan losses14,518 12,141 12,945 14,179 15,348 15,198 16,486 19,646 
Non-interest income4,221 4,601 4,805 4,492 5,298 4,911 4,375 4,799 
Non-interest expense11,043 8,917 9,276 10,416 9,874 9,496 9,932 12,846 
Income before taxes7,696 7,825 8,474 8,255 10,772 10,613 10,929 11,599 
Income taxes1,201 1,256 1,379 1,285 1,850 1,826 1,915 2,053 
Net income$6,495 $6,569 $7,095 $6,970 $8,922 $8,787 $9,014 $9,546 
Basic earnings per share$0.60 $0.61 $0.65 $0.64 $0.82 $0.81 $0.83 $0.87 
Diluted earnings per share$0.60 $0.60 $0.65 $0.63 $0.81 $0.80 $0.82 $0.87 
Other comprehensive income (loss), net of tax
Net unrealized gain (loss) on securities available for sale$4,233 $(790)$(1,580)$(511)$(4,790)$971 $(1,817)$(1,091)
Net unrealized gain on securities transferred from available for sale to held to maturity28 11 14 12 
Net unrealized gain (loss) on cash flow hedging derivative instruments(4,870)(1,414)387 868 3,469 (620)546 1,537 
Unrecognized gain on postretirement benefit costs— — — — — — 77 
Other comprehensive income (loss)$(629)$(2,176)$(1,186)$367 $(1,312)$362 $(1,257)$535 
Comprehensive income $5,866 $4,393 $5,909 $7,337 $7,610 $9,149 $7,757 $10,081