v3.26.3
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Interest income:        
Loans and leases $ 119,271 $ 120,242 $ 349,508 $ 351,032
Investment securities, taxable 12,892 8,803 36,998 25,558
Investment securities, tax-exempt 304 301 915 875
Other 841 1,542 3,101 3,943
Total interest income 133,308 130,888 390,522 381,408
Interest expense:        
Deposits 34,788 39,654 101,831 118,606
Short-term borrowings 1,557 307 4,784 1,348
Subordinated notes 987 1,010 2,953 3,031
Long-term debt and mandatorily redeemable securities 391 1,167 2,089 3,543
Total interest expense 37,723 42,138 111,657 126,528
Net interest income 95,585 88,750 278,865 254,880
Provision for (recovery of) credit losses - loans and leases 1,135 (179) 10,123 9,817
(Recovery of) provision for credit losses - unfunded loan commitments (232) 1,075 (409) 2,034
Provision for credit losses 903 896 9,714 11,851
Net interest income after provision for credit losses 94,682 87,854 269,151 243,029
Noninterest income:        
Mortgage banking 1,014 1,031 2,883 3,000
Insurance commissions 1,918 1,845 6,220 5,970
Equipment rental 452 693 1,581 2,371
Losses on investment securities available-for-sale (3,818) (1,877) (3,805) (2,874)
Other 8,747 5,422 17,844 15,899
Total noninterest income 24,696 21,906 72,716 68,066
Noninterest expense:        
Salaries and employee benefits 32,752 32,217 98,725 96,132
Net occupancy 3,239 3,085 10,174 9,344
Furniture and equipment 1,463 1,566 4,590 4,597
Data Processing 7,478 7,578 22,543 22,279
Depreciation - leased equipment 334 557 1,211 1,894
Professional fees 2,082 1,765 5,809 4,932
FDIC and other insurance 1,462 1,454 4,365 4,332
Business development and marketing 2,638 2,846 6,605 6,655
Other 3,775 3,708 10,743 10,117
Total noninterest expense 55,223 54,776 164,765 160,282
Income before income taxes 64,155 54,984 177,102 150,813
Income tax expense 14,613 12,705 40,057 33,685
Net income 49,542 42,279 137,045 117,128
Net loss (income) attributable to noncontrolling interests 0 17 (3) 7
Net income $ 49,542 $ 42,296 $ 137,042 $ 117,135
Per common share:        
Basic net income per common share (in dollars per share) $ 2.03 $ 1.71 $ 5.62 $ 4.74
Diluted net income per common share (in dollars per share) $ 2.03 $ 1.71 $ 5.62 $ 4.74
Basic weighted average common shares outstanding (in shares) 24,083,332 24,472,035 24,143,752 24,519,828
Diluted weighted average common shares outstanding (in shares) 24,083,332 24,472,035 24,143,752 24,519,828
Trust and wealth advisory        
Noninterest income:        
Trust and wealth advisory, service charges on deposit accounts, and debit card income $ 7,867 $ 6,825 $ 23,577 $ 20,757
Service charges on deposit accounts        
Noninterest income:        
Trust and wealth advisory, service charges on deposit accounts, and debit card income 3,780 3,437 10,566 9,697
Debit card        
Noninterest income:        
Trust and wealth advisory, service charges on deposit accounts, and debit card income $ 4,736 $ 4,530 $ 13,850 $ 13,246