XML 18 R5.htm IDEA: XBRL DOCUMENT v3.22.0.1
Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest and dividend income      
Interest and fees on loans (includes tax-exempt income of $1,102,000 in 2021, $1,170,000 in 2020, and $1,302,000 in 2019) $ 62,195 $ 59,059 $ 59,239
Interest on deposits with other banks 72 96 188
Interest and dividends on investments (includes tax-exempt income of $7,644,000 in 2021, $7,617,000 in 2020, and $7,333,000 in 2019) 14,814 17,964 19,224
Total interest and dividend income 77,081 77,119 78,651
Interest expense      
Interest on deposits 7,314 14,139 23,268
Interest on borrowed funds 3,464 3,147 2,890
Total interest expense 10,778 17,286 26,158
Net interest income 66,303 59,833 52,493
Provision (credit) for loan losses (375) 6,050 1,250
Net interest income after provision (credit) for loan losses 66,678 53,783 51,243
Non-interest income      
Net securities gains 23 1,155 224
Other operating income 2,819 2,432 2,659
Non-interest income 19,383 18,119 14,189
Non-interest expense      
Salaries and employee benefits 21,152 20,388 18,396
Occupancy expense 2,841 2,762 2,558
Furniture and equipment expense 4,788 4,799 3,990
FDIC insurance premiums 824 738 439
Acquisition-related costs 0 310 0
Amortization of identified intangibles 69 43 43
Other operating expense 12,474 10,612 9,746
Total non-interest expense 42,148 39,652 35,172
Income before income taxes 43,913 32,250 30,260
Applicable tax expense 7,644 5,121 4,735
Net income $ 36,269 $ 27,129 $ 25,525
Basic earnings per common share (in usd per share) $ 3.33 $ 2.50 $ 2.36
Diluted earnings per common share (in usd per share) $ 3.30 $ 2.48 $ 2.34
Other comprehensive income (loss), net of tax      
Net unrealized gain (loss) on securities available for sale $ (6,727) $ 1,352 $ 8,708
Net unrealized gain on securities transferred from available for sale to held to maturity, net of amortization 46 49 15
Net gain (loss) on cash flow hedging derivative instruments 4,932 (5,029) (1,341)
Net unrecognized gain (loss) on postretirement benefits 77 4 (13)
Other comprehensive gain (loss) (1,672) (3,624) 7,369
Comprehensive income 34,597 23,505 32,894
Fiduciary and investment management income      
Non-interest income      
Non-interest income 4,529 3,660 3,318
Service charges on deposit accounts      
Non-interest income      
Non-interest income 1,568 1,648 2,330
Mortgage origination and servicing income      
Non-interest income      
Non-interest income 5,236 5,085 1,909
Debit card income      
Non-interest income      
Non-interest income $ 5,208 $ 4,139 $ 3,749