v3.25.2
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
INTEREST INCOME        
Loans $ 73,830 $ 74,295 $ 146,901 $ 145,371
Investment securities and other 7,145 6,632 14,317 12,946
TOTAL INTEREST INCOME 80,975 80,927 161,218 158,317
INTEREST EXPENSE        
Deposits 24,368 27,783 48,968 55,420
Securities sold under reverse repurchase agreements 372 394 743 727
Short-term borrowings, overnight FHLBank borrowings and other interest-bearing liabilities 3,974 4,373 8,424 7,417
Subordinated debentures issued to capital trust 389 454 771 908
Subordinated notes 909 1,105 2,015 2,211
TOTAL INTEREST EXPENSE 30,012 34,109 60,921 66,683
NET INTEREST INCOME 50,963 46,818 100,297 91,634
PROVISION FOR CREDIT LOSSES ON LOANS       500
PROVISION (CREDIT) FOR UNFUNDED COMMITMENTS (110) (607) (458) (477)
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES ON LOANS AND PROVISION (CREDIT) FOR UNFUNDED COMMITMENTS 51,073 47,425 100,755 91,611
NON-INTEREST INCOME        
Commissions 411 269 673 650
Overdraft and insufficient funds fees 1,266 1,230 2,481 2,519
Point-Of-Sale and ATM fee income and service charges 3,444 3,588 6,678 6,771
Net gains on loan sales 893 1,127 1,494 1,804
Late charges and fees on loans 340 136 583 303
Loss on derivative interest rate products (28) (7) (52) (20)
Other income 1,886 3,490 2,945 4,612
TOTAL NON-INTEREST INCOME 8,212 9,833 14,802 16,639
NON-INTEREST EXPENSE        
Salaries and employee benefits 20,005 19,886 40,134 39,542
Net occupancy and equipment expense 8,435 7,841 16,968 15,680
Postage 825 777 1,756 1,584
Insurance 1,095 1,263 2,260 2,407
Advertising 705 891 995 1,241
Office supplies and printing 238 236 504 503
Telephone 705 685 1,411 1,406
Legal, audit and other professional fees 929 1,864 1,967 3,589
Expense (income) on other real estate and repossessions (168) 285 (238) 346
Intangible asset amortization 108 109 216 217
Other operating expenses 2,128 2,572 3,854 4,316
TOTAL NON-INTEREST EXPENSE 35,005 36,409 69,827 70,831
INCOME BEFORE INCOME TAXES 24,280 20,849 45,730 37,419
PROVISION FOR INCOME TAXES 4,494 3,861 8,784 7,024
NET INCOME $ 19,786 $ 16,988 $ 36,946 $ 30,395
Earnings Per Common Share        
Basic Earnings Per Common Share (in dollars per share) $ 1.73 $ 1.46 $ 3.2 $ 2.6
Diluted Earnings Per Common Share (in dollars per share) 1.72 1.45 3.18 2.58
Dividends Declared Per Common Share (in dollars per share) $ 0.4 $ 0.4 $ 0.8 $ 0.8