v3.26.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Loans/leases, including fees:        
Taxable $ 77,584 $ 75,122 $ 154,241 $ 149,210
Nontaxable 24,520 27,747 49,978 54,095
Securities:        
Taxable 4,755 4,805 9,717 9,393
Nontaxable 12,244 10,158 23,312 19,370
Interest-bearing deposits at financial institutions 1,353 1,634 2,841 3,438
Restricted investment securities 519 622 904 1,156
Federal funds sold 52 159 125 258
Total interest and dividend income 121,027 120,247 241,118 236,920
Interest expense:        
Deposits 46,794 51,013 92,349 101,400
Short-term borrowings 31 15 58 33
Federal Home Loan Bank advances 1,383 2,853 1,680 4,849
Other borrowings 1,264   2,431  
Subordinated notes 2,923 3,599 7,843 7,201
Junior subordinated debentures 716 685 1,403 1,369
Total interest expense 53,111 58,165 105,764 114,852
Net interest income 67,916 62,082 135,354 122,068
Provision for credit losses 4,708 4,043 7,162 8,277
Net interest income after provision for credit losses 63,208 58,039 128,192 113,791
Noninterest income:        
Gains on sales of residential real estate loans, net 507 556 1,121 853
Capital markets revenue 15,392 9,869 26,093 16,385
Earnings on bank-owned life insurance 1,025 998 1,956 1,522
Loan related fee income 1,066 1,096 2,016 1,994
Fair value gain on derivatives and trading securities 802 230    
Other 189 183 1,056 622
Total noninterest income 29,427 22,115 52,379 39,007
Noninterest expense:        
Salaries and employee benefits 32,120 28,474 63,509 55,838
Occupancy and equipment expense 7,342 6,837 14,821 13,292
Professional and data processing fees 5,597 6,089 10,759 11,233
FDIC insurance, other insurance and regulatory fees 1,973 1,960 4,045 3,930
Loan/lease expense 291 407 397 788
Net cost of (income from) and losses/(gains) on operations of other real estate (11) 50 5 41
Advertising and marketing 1,822 1,746 3,597 3,359
Communication and data connectivity 243 274 445 564
Supplies 265 252 498 459
Bank service charges 711 720 1,375 1,316
Correspondent banking expense 335 314 668 643
Intangibles amortization 506 661 1,012 1,322
Payment card processing 496 547 1,004 1,141
Trust expense 455 413 929 770
Other 1,012 839 2,218 1,426
Total noninterest expense 53,157 49,583 105,282 96,122
Net income before income taxes 39,478 30,571 75,289 56,676
Federal and state income tax expense 3,227 1,552 5,655 1,860
Net income $ 36,251 $ 29,019 $ 69,634 $ 54,816
Basic earnings per common share (in dollars per share) $ 2.2 $ 1.71 $ 4.2 $ 3.24
Diluted earnings per common share (in dollars per share) $ 2.19 $ 1.71 $ 4.18 $ 3.22
Weighted average common shares outstanding 16,489,987 16,928,542 16,570,898 16,914,663
Weighted average common and common equivalent shares outstanding 16,569,815 17,006,282 16,655,678 17,010,136
Cash dividends declared per common share $ 0.1 $ 0.06 $ 0.2 $ 0.12
Trust fees        
Noninterest income:        
Revenue $ 4,281 $ 3,395 $ 8,175 $ 7,081
Investment advisory and management fees        
Noninterest income:        
Revenue 1,551 1,254 3,090 2,508
Deposit service fees        
Noninterest income:        
Revenue 2,115 2,187 4,088 4,370
Debit card fees        
Noninterest income:        
Revenue 1,752 1,648 3,411 3,136
Correspondent banking fees        
Noninterest income:        
Revenue $ 747 $ 699 $ 1,440 $ 1,313