v3.25.4
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Loans, including fees:      
Taxable $ 211,943 $ 210,340 $ 191,008
Federally tax exempt 4,878 4,523 4,189
Debt securities:      
Taxable 31,075 25,801 25,746
Federally tax exempt 1,839 2,102 4,225
Interest-bearing deposits in bank 5,502 8,272 3,020
Other interest and dividend income 547 662 811
Total interest and dividend income 255,784 251,700 228,999
INTEREST EXPENSE      
Deposits 51,689 56,047 25,135
Securities sold under agreements to repurchase 22 594 255
Borrowings 203 480 7,128
Subordinated notes 1,326 1,879 1,879
Junior subordinated debentures issued to capital trusts 3,649 3,850 3,530
Total interest expense 56,889 62,850 37,927
Net interest income 198,895 188,850 191,072
PROVISION FOR CREDIT LOSSES 3,161 3,031 7,573
Net interest income after provision for credit losses 195,734 185,819 183,499
NONINTEREST INCOME      
Mortgage servicing 4,113 4,437 4,678
Mortgage servicing rights fair value adjustment (1,883) (174) (1,615)
Gains on sale of mortgage loans 1,477 1,611 1,526
Realized gains (losses) on sales of securities (200) (3,697) (1,820)
Unrealized gains (losses) on equity securities 7 (59) 160
Gains (losses) on foreclosed assets 4 22 501
Gains (losses) on other assets (85) (635) 166
Income on bank owned life insurance 671 915 573
Other noninterest income 3,114 3,190 3,105
Total noninterest income 38,190 35,571 36,046
NONINTEREST EXPENSE      
Salaries 66,342 65,130 67,453
Employee benefits 13,538 11,311 10,037
Occupancy of bank premises 10,713 10,293 9,918
Furniture and equipment 2,280 2,004 2,790
Data processing 11,766 11,169 12,352
Marketing and customer relations 4,183 4,320 5,043
Amortization of intangible assets 2,726 2,839 2,670
Loss on extinguishment of debt 391 0 0
FDIC insurance 2,234 2,254 2,280
Loan collection and servicing 1,346 2,056 1,402
Foreclosed assets 169 109 251
Other noninterest expense 13,730 12,522 16,768
Total noninterest expense 129,418 124,007 130,964
INCOME BEFORE INCOME TAX EXPENSE 104,506 97,383 88,581
INCOME TAX EXPENSE 27,498 25,603 22,739
NET INCOME $ 77,008 $ 71,780 $ 65,842
EARNINGS PER SHARE - BASIC (in dollars per share) $ 2.44 $ 2.27 $ 2.08
EARNINGS PER SHARE - DILUTED (in dollars per share) $ 2.44 $ 2.26 $ 2.07
WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING (in shares) 31,502,351 31,590,117 31,626,308
Card income      
NONINTEREST INCOME      
Revenue $ 10,785 $ 11,051 $ 11,043
Wealth management fees      
NONINTEREST INCOME      
Revenue 12,147 10,978 9,883
Service charges on deposit accounts      
NONINTEREST INCOME      
Revenue $ 8,040 $ 7,932 $ 7,846