Consolidated Statements of Income - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
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Interest income: | ||||
Loans, including loan fees | $ 105,976 | $ 97,975 | $ 206,642 | $ 191,623 |
Investment securities: | ||||
Taxable | 6,027 | 5,056 | 11,587 | 9,613 |
Tax-exempt | 1,017 | 1,152 | 2,066 | 2,390 |
Other interest income | 4,618 | 4,695 | 10,084 | 9,283 |
Total interest income | 117,638 | 108,878 | 230,379 | 212,909 |
Interest expense: | ||||
Deposits | 40,472 | 41,386 | 79,937 | 80,376 |
Long-term borrowings | 2,057 | 2,150 | 4,127 | 4,384 |
Total interest expense | 42,529 | 43,536 | 84,064 | 84,760 |
Net interest income | 75,109 | 65,342 | 146,315 | 128,149 |
Provision for credit losses | 1,050 | 1,350 | 2,550 | 2,100 |
Net interest income after provision for credit losses | 74,059 | 63,992 | 143,765 | 126,049 |
Noninterest income: | ||||
Mortgage income, net | 2,907 | 2,634 | 4,833 | 3,998 |
BOLI income | 1,429 | 1,225 | 2,849 | 2,572 |
Deferred compensation plan asset market valuations | 1,437 | 169 | 1,482 | 228 |
LSR income, net | 950 | 1,117 | 2,007 | 2,251 |
Asset gains (losses), net | (199) | 616 | (553) | 2,525 |
Other noninterest income | 1,637 | 1,903 | 3,429 | 4,348 |
Total noninterest income | 20,633 | 19,609 | 38,856 | 39,031 |
Noninterest expense: | ||||
Personnel | 29,114 | 26,285 | 55,635 | 52,795 |
Occupancy, equipment and office | 9,104 | 8,681 | 18,434 | 17,625 |
Business development and marketing | 1,593 | 2,040 | 3,693 | 4,182 |
Data processing | 4,682 | 4,281 | 9,207 | 8,551 |
Intangibles amortization | 1,481 | 1,762 | 3,033 | 3,595 |
FDIC assessments | 1,029 | 990 | 1,969 | 2,023 |
Other noninterest expense | 2,916 | 2,814 | 5,735 | 5,229 |
Total noninterest expense | 49,919 | 46,853 | 97,706 | 94,000 |
Income before income tax expense | 44,773 | 36,748 | 84,915 | 71,080 |
Income tax expense | 8,738 | 7,475 | 16,288 | 14,017 |
Net income | $ 36,035 | $ 29,273 | $ 68,627 | $ 57,063 |
Earnings per common share: | ||||
Basic (in dollars per share) | $ 2.40 | $ 1.96 | $ 4.53 | $ 3.82 |
Diluted (in dollars per share) | $ 2.34 | $ 1.92 | $ 4.42 | $ 3.74 |
Weighted average common shares outstanding: | ||||
Basic (in shares) | 15,029,137 | 14,937,347 | 15,142,129 | 14,922,235 |
Diluted (in shares) | 15,431,127 | 15,275,933 | 15,538,082 | 15,262,562 |
Wealth management fee income | ||||
Noninterest income: | ||||
Fees and commissions | $ 6,811 | $ 6,674 | $ 13,786 | $ 13,159 |
Service charges on deposit accounts | ||||
Noninterest income: | ||||
Fees and commissions | 1,962 | 1,813 | 3,987 | 3,394 |
Card interchange income | ||||
Noninterest income: | ||||
Fees and commissions | $ 3,699 | $ 3,458 | $ 7,036 | $ 6,556 |
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- Definition Credit Loss Expense (Reversal) No definition available.
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- Definition Deferred Compensation Plan Asset Market Valuations No definition available.
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- Definition Loan Servicing Right Income, Net No definition available.
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- Definition This element represent Occupancy, Equipment And Office Expense. No definition available.
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- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Earnings on or other increases in the value of the cash surrender value of bank owned life insurance policies. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Business development involves the development of products and services, their delivery, design and their implementation. Business development includes a number of techniques designed to grow an economic enterprise. Such techniques include, but are not limited to, assessments of marketing opportunities and target markets, intelligence gathering on customers and competitors, generating leads for possible sales, follow-up sales activity, formal proposal writing and business model design. Business development involves evaluating a business and then realizing its full potential, using such tools as marketing, sales, information management and customer service. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense for Federal Deposit Insurance Corporation (FDIC) insurance. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Income from mortgage banking activities (fees and commissions) and servicing real estate mortgages, credit cards, and other financial assets held by others net of any related impairment of capitalized service costs. Also includes any premiums received in lieu of regular servicing fees on such loans only as earned over the life of the loans. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of gain (loss) on sale or disposal of assets utilized in financial service operations. No definition available.
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount of expenses incurred in the period for information technology and data processing products and services. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Aggregate amount of interest expense on all deposits. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Aggregate amount of interest paid or due on all long-term debt. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest expense classified as operating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of interest income or expense, including any amortization and accretion (as applicable) of discounts and premiums, including consideration of the provisions for loan, lease, credit, and other related losses. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of interest income (expense) classified as operating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of operating interest income, including amortization and accretion of premiums and discounts, on securities exempt from state, federal and other income tax. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of operating interest income, including amortization and accretion of premiums and discounts, on securities subject to state, federal and other income tax. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Total aggregate amount of all noninterest expense. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition The total amount of noninterest income which may be derived from: (1) fees and commissions; (2) premiums earned; (3) insurance policy charges; (4) the sale or disposal of assets; and (5) other sources not otherwise specified. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Represents the total of noninterest income derived from certain activities and assets including (for example): (1) venture capital investments; (2) bank owned life insurance; (3) foreign currency transactions; and (4) mortgage servicing rights. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, after discount, accretion and premium amortization, of interest income and dividend income classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of noninterest expense classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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