Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
INTEREST INCOME      
Loans, including Fees $ 94,752 $ 94,215 $ 84,117
Investment Securities:      
Taxable 10,176 13,122 12,081
Tax Exempt 98 312 787
Funds Sold 1,171 5,187 2,410
Total Interest Income 106,197 112,836 99,395
INTEREST EXPENSE      
Deposits 1,548 6,840 4,243
Short-Term Borrowings 1,690 109 110
Subordinated Notes Payable 1,472 2,287 2,167
Other Long-Term Borrowings 161 257 371
Total Interest Expense 4,871 9,493 6,891
NET INTEREST INCOME 101,326 103,343 92,504
Provision for Credit Losses 9,645 2,027 2,921
Net Interest Income After Provision for Credit Losses 91,681 101,316 89,583
NONINTEREST INCOME      
Other 5,942 5,786 6,648
Total Noninterest Income 111,165 53,053 51,565
NONINTEREST EXPENSE      
Compensation 96,280 66,352 63,921
Occupancy, Net 22,659 18,436 18,503
Other Real Estate Owned, Net 104 546 (442)
Other 30,919 28,275 29,521
Total Noninterest Expense 149,962 113,609 111,503
INCOME BEFORE INCOME TAXES 52,884 40,760 29,645
Income Tax Expense 10,230 9,953 3,421
NET INCOME 42,654 30,807 26,224
Pre-Tax Income Attributable to Noncontrolling Interests (11,078) 0 0
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS $ 31,576 $ 30,807 $ 26,224
BASIC NET INCOME PER SHARE (in dollars per share) $ 1.88 $ 1.84 $ 1.54
DILUTED NET INCOME PER SHARE (in dollars per share) $ 1.88 $ 1.83 $ 1.54
Average Basic Common Shares Outstanding (in shares) 16,785 16,770 17,029
Average Diluted Common Shares Outstanding (in shares) 16,822 16,827 17,072
Deposit fees [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions $ 17,800 $ 19,472 $ 20,093
Bank card fees [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions 13,044 11,994 11,378
Wealth managment fees [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions 11,035 10,480 8,711
Mortgage Banking Revenues [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions $ 63,344 $ 5,321 $ 4,735