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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Loans, including fees        
Taxable, Loans, including fees $ 38,741,000 $ 28,340,000 $ 101,640,000 $ 83,352,000
Tax-exempt 43,000 76,000 134,000 299,000
Securities        
Taxable, Securities 2,273,000 1,432,000 5,694,000 4,078,000
Tax-exempt, Securities 1,224,000 916,000 3,177,000 2,629,000
Interest on interest bearing deposits with other banks 170,000 118,000 262,000 240,000
Total interest income 42,451,000 30,882,000 110,907,000 90,598,000
Interest expense        
Deposits 6,140,000 1,832,000 10,489,000 6,464,000
Short-term borrowings 850,000 470,000 1,918,000 1,404,000
Long-term borrowings and subordinated debentures 1,348,000 543,000 3,867,000 1,631,000
Total interest expense 8,338,000 2,845,000 16,274,000 9,499,000
Net interest income 34,113,000 28,037,000 94,633,000 81,099,000
Provision for credit losses 1,500,000 0 5,450,000 2,500,000
Net interest income after provision for credit losses 32,613,000 28,037,000 89,183,000 78,599,000
Noninterest income        
Revenue from contracts with customers 4,079,000 3,728,000 11,949,000 10,370,000
Mortgage origination revenue 538,000 742,000 1,194,000 2,638,000
Realized (losses) gains on debt securities available for sale, net (242,000) (68,000) (684,000) 534,000
Gain (loss) on equity investments 283,000 0 (14,000) 0
Bank owned life insurance and annuities income 229,000 160,000 843,000 733,000
Other 165,000 168,000 348,000 413,000
Total noninterest income 4,887,000 4,567,000 13,288,000 14,256,000
Noninterest expenses        
Salaries, commissions and employee benefits 10,189,000 8,745,000 29,920,000 25,410,000
Net occupancy expense 1,301,000 1,254,000 3,801,000 3,559,000
Equipment expense 1,851,000 1,908,000 5,484,000 5,088,000
Professional fees 372,000 374,000 1,242,000 1,140,000
Advertising and public relations 276,000 254,000 613,000 482,000
Amortization of intangibles 354,000 390,000 1,088,000 1,176,000
FDIC premiums 292,000 354,000 872,000 1,119,000
Bank card expense 726,000 705,000 2,249,000 1,964,000
Foreclosed properties expense, net of (gains)/losses 26,000 370,000 77,000 1,342,000
Acquisition-related expenses 0 273,000 33,000 1,167,000
Other 3,834,000 2,716,000 8,651,000 8,365,000
Total noninterest expenses 19,221,000 17,343,000 54,030,000 50,812,000
Income before income tax expense 18,279,000 15,261,000 48,441,000 42,043,000
Income tax expense 3,856,000 3,023,000 10,311,000 8,886,000
Net income 14,423,000 12,238,000 38,130,000 33,157,000
Preferred stock dividends 225,000 225,000 675,000 364,000
Net income applicable to common shares $ 14,198,000 $ 12,013,000 $ 37,455,000 $ 32,793,000
Basic earnings per common share (in dollars per share) $ 1.11 $ 0.93 $ 2.94 $ 2.53
Diluted earnings per common share (in dollars per share) $ 1.11 $ 0.92 $ 2.92 $ 2.52
Fiduciary and Trust [Member]        
Noninterest income        
Revenue from contracts with customers $ 725,000 $ 718,000 $ 2,228,000 $ 2,039,000
Deposit Account [Member]        
Noninterest income        
Revenue from contracts with customers 1,550,000 1,338,000 4,625,000 3,530,000
Credit and Debit Card [Member]        
Noninterest income        
Revenue from contracts with customers $ 1,639,000 $ 1,509,000 $ 4,748,000 $ 4,369,000