Annual report [Section 13 and 15(d), not S-K Item 405]

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
INTEREST INCOME      
Loans, including Fees $ 161,194 $ 164,933 $ 152,250
Investment Securities:      
Taxable 27,399 17,074 18,652
Tax Exempt 43 23 40
Federal Funds Sold and Interest Bearing Deposits 15,751 12,627 10,126
Total Interest Income 204,387 194,657 181,068
INTEREST EXPENSE      
Deposits 29,597 32,162 17,582
Short-Term Borrowings 1,183 1,080 2,051
Subordinated Notes Payable 1,924 2,449 2,427
Other Long-Term Borrowings 35 28 20
Total Interest Expense 32,739 35,719 22,080
NET INTEREST INCOME 171,648 158,938 158,988
Provision for Credit Losses 5,264 4,031 9,714
Net Interest Income After Provision for Credit Losses 166,384 154,907 149,274
NONINTEREST INCOME      
Other 7,955 6,467 8,630
Total Noninterest Income 82,355 75,976 71,610
NONINTEREST EXPENSE      
Compensation 107,178 100,721 93,787
Occupancy, Net 27,953 27,982 27,660
Other 31,891 36,612 35,576
Total Noninterest Expense 167,022 165,315 157,023
INCOME BEFORE INCOME TAXES 81,717 65,568 63,861
Income Tax Expense 20,160 13,924 13,040
NET INCOME 61,557 51,644 50,821
Loss Attributable to Noncontrolling Interests 0 1,271 1,437
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS $ 61,557 $ 52,915 $ 52,258
BASIC NET INCOME PER SHARE (in dollars per share) $ 3.61 $ 3.12 $ 3.08
DILUTED NET INCOME PER SHARE (in dollars per share) $ 3.60 $ 3.12 $ 3.07
Average Basic Common Shares Outstanding (in shares) 17,055 16,943 16,987
Average Diluted Common Shares Outstanding (in shares) 17,102 16,969 17,023
Deposit fees [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions $ 22,069 $ 21,346 $ 21,325
Bank card fees [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions 14,705 14,707 14,918
Wealth management fees [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions 20,667 19,113 16,337
Mortgage Banking Revenues [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions $ 16,959 $ 14,343 $ 10,400