XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest Income        
Loans, including fees $ 33,267 $ 17,988 $ 64,200 $ 35,280
Taxable 6,125 6,068 12,076 11,508
Exempt from federal income taxes 186 213 376 429
Other 762 157 1,497 273
Total interest income 40,340 24,426 78,149 47,490
Interest Expense        
Deposits 12,678 813 21,782 1,642
Short-term borrowings 4,763 278 9,156 278
Long-term debt 665 559 1,319 1,121
Total interest expense 18,106 1,650 32,257 3,041
Net interest income 22,234 22,776 45,892 44,449
Provision for credit losses     550  
Net interest income after provision for credit losses 22,234 22,776 45,342 44,449
Noninterest Income        
Mortgage banking 2,905 6,038 4,622 10,969
Other 1,223 935 3,781 2,139
Total noninterest income 25,778 29,226 51,031 58,696
Noninterest Expense        
Compensation 18,847 21,248 38,005 40,299
Employee taxes and benefits 4,724 5,787 10,577 11,949
Occupancy and equipment expense 1,837 1,737 3,736 3,788
Business services, software and technology expense 5,269 4,785 10,593 9,709
Intangible amortization expense 1,324 1,053 2,648 2,106
Professional fees and assessments 1,530 2,246 2,682 3,787
Marketing and business development 648 814 1,334 1,414
Supplies and postage 406 572 866 1,218
Travel 306 356 554 535
Mortgage and lending expenses 215 482 712 1,168
Other 1,267 904 2,535 2,082
Total noninterest expense 36,373 39,984 74,242 78,055
Income before income taxes 11,639 12,018 22,131 25,090
Income tax expense 2,535 2,725 4,841 5,613
Net income $ 9,104 $ 9,293 $ 17,290 $ 19,477
Per Common Share Data        
Basic earnings per common share $ 0.45 $ 0.53 $ 0.86 $ 1.11
Diluted earnings per common share 0.45 0.52 0.85 1.10
Dividends declared per common share $ 0.19 $ 0.18 $ 0.37 $ 0.34
Average common shares outstanding 20,033 17,297 20,030 17,271
Diluted average common shares outstanding 20,241 17,532 20,243 17,517
Retirement and Benefit Services        
Noninterest Income        
Revenue $ 15,890 $ 16,293 $ 31,372 $ 33,939
Wealth Management        
Noninterest Income        
Revenue 5,449 5,548 10,644 10,874
Deposit Account        
Noninterest Income        
Revenue $ 311 $ 412 $ 612 $ 775