XML 15 R4.htm IDEA: XBRL DOCUMENT v3.26.1
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Interest income    
Loans $ 62,995,000 $ 63,432,000
Investment securities - taxable 9,851,000 8,944,000
Investment securities - tax-exempt 881,000 875,000
Short-term investments 637,000 2,268,000
Total interest income 74,364,000 75,519,000
Interest expense    
Deposits 21,986,000 24,260,000
Securities sold under agreements to repurchase and federal funds purchased 97,000 84,000
FHLB advances and other borrowings 2,355,000 1,118,000
Subordinated notes and trust preferred debt 921,000 1,296,000
Total interest expense 25,359,000 26,758,000
Net interest income 49,005,000 48,761,000
Provision for (recovery of) credit losses - loans 728,000 (554,000)
Recovery of credit losses - unfunded loan commitments (376,000) 0
Net interest income after net provision for (recovery of) credit losses 48,653,000 49,315,000
Noninterest income    
Service charges on deposit accounts 2,250,000 1,911,000
Interchange income 1,513,000 1,427,000
Other service charges, commissions and fees 621,000 484,000
Swap fee income 1,339,000 394,000
Trust and investment management income 3,744,000 3,976,000
Brokerage income 1,813,000 1,439,000
Mortgage banking activities 326,000 302,000
Income from life insurance 3,761,000 1,289,000
Investment securities (losses) gains (2,000) 13,000
Other income 212,000 389,000
Total noninterest income 15,577,000 11,624,000
Noninterest expenses    
Salaries and employee benefits 21,157,000 20,388,000
Occupancy 2,081,000 1,989,000
Furniture and equipment 2,140,000 2,686,000
Data processing 1,537,000 924,000
Automated teller and interchange fees 1,139,000 677,000
Advertising and bank promotions 683,000 499,000
FDIC insurance 549,000 824,000
Professional services 1,221,000 1,826,000
Directors' compensation 414,000 211,000
Taxes other than income 1,025,000 942,000
Intangible asset amortization 2,239,000 2,535,000
Merger-related expenses 0 1,649,000
Restructuring expenses 0 91,000
Other operating expenses 2,543,000 2,935,000
Total noninterest expenses 36,728,000 38,176,000
Income before income tax expense 27,502,000 22,763,000
Income tax expense 5,693,000 4,712,000
Net income $ 21,809,000 $ 18,051,000
Per share information:    
Basic earnings per share (in usd per share) $ 1.13 $ 0.94
Diluted earnings per share (in usd per share) 1.12 0.93
Dividends paid per share (in usd per share) $ 0.30 $ 0.26