Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME

v3.23.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
INTEREST INCOME    
Loans, including Fees $ 34,880 $ 22,133
Investment Securities:    
Taxable Securities 4,912 2,890
Tax Exempt Securities 12 6
Federal Funds Sold and Interest Bearing Deposits 4,111 409
Total Interest Income 43,915 25,438
INTEREST EXPENSE    
Deposits 2,488 224
Short-Term Borrowings 461 192
Subordinated Notes Payable 571 317
Other Long-Term Borrowings 6 9
Total Interest Expense 3,526 742
NET INTEREST INCOME 40,389 24,696
Provision for Credit Losses 3,130 0
Net Interest Income After Provision Forfor Credit Losses 37,259 24,696
NONINTEREST INCOME    
Other 2,360 1,848
Total Noninterest Income 22,248 25,818
NONINTEREST EXPENSE    
Compensation 25,636 24,856
Occupancy, Net 6,762 6,093
Other 8,057 8,284
Total Noninterest Expense 40,455 39,233
INCOME BEFORE INCOME TAXES 19,052 11,281
Income Tax Expense 4,133 2,235
NET INCOME 14,919 9,046
Loss (Income) Attributable to Noncontrolling Interests 35 (591)
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS $ 14,954 $ 8,455
BASIC NET INCOME PER SHARE (in dollars per shares) $ 0.88 $ 0.50
DILUTED NET INCOME PER SHARE (in dollars per shares) $ 0.88 $ 0.50
Average Basic Shares Outstanding 17,016 16,931
Average Diluted Shares Outstanding 17,045 16,946
Deposit fees [Member]    
NONINTEREST INCOME    
Revenue, fees and commissions $ 5,239 $ 5,191
Bank card fees [Member]    
NONINTEREST INCOME    
Revenue, fees and commissions 3,726 3,763
Wealth Management fees [Member]    
NONINTEREST INCOME    
Revenue, fees and commissions 3,928 6,070
Mortgage banking [Member]    
NONINTEREST INCOME    
Revenue, fees and commissions $ 6,995 $ 8,946