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, 2021
Dec. 31, 2020
Dec. 31, 2019
INTEREST INCOME      
Loans, including Fees $ 96,561 $ 94,752 $ 94,215
Investment Securities:      
Taxable 8,724 10,176 13,122
Tax Exempt 68 98 312
Federal Funds Sold and Interest Bearing Deposits 998 1,171 5,187
Total Interest Income 106,351 106,197 112,836
INTEREST EXPENSE      
Deposits 839 1,548 6,840
Short-Term Borrowings 1,360 1,690 109
Subordinated Notes Payable 1,228 1,472 2,287
Other Long-Term Borrowings 63 161 257
Total Interest Expense 3,490 4,871 9,493
NET INTEREST INCOME 102,861 101,326 103,343
Provision for Credit Losses (1,553) 9,645 2,027
Net Interest Income After Provision for Credit Losses 104,414 91,681 101,316
NONINTEREST INCOME      
Other 7,271 5,942 5,786
Total Noninterest Income 107,545 111,165 53,053
NONINTEREST EXPENSE      
Compensation 101,470 96,280 66,352
Occupancy, Net 23,932 22,659 18,436
Other Real Estate Owned, Net (1,488) 104 546
Pension Settlement 3,072 0 0
Other 35,522 30,919 28,275
Total Noninterest Expense 162,508 149,962 113,609
INCOME BEFORE INCOME TAXES 49,451 52,884 40,760
Income Tax Benefit 9,835 10,230 9,953
NET INCOME 39,616 42,654 30,807
Pre-Tax Income Attributable to Noncontrolling Interests (6,220) (11,078) 0
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS $ 33,396 $ 31,576 $ 30,807
BASIC NET INCOME PER SHARE (in dollars per share) $ 1.98 $ 1.88 $ 1.84
DILUTED NET INCOME PER SHARE (in dollars per share) $ 1.98 $ 1.88 $ 1.83
Average Basic Common Shares Outstanding (in shares) 16,863 16,785 16,770
Average Diluted Common Shares Outstanding (in shares) 16,893 16,822 16,827
Deposit fees [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions $ 18,882 $ 17,800 $ 19,472
Bank card fees [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions 15,274 13,044 11,994
Wealth managment fees [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions 13,693 11,035 10,480
Mortgage Banking Revenues [Member]      
NONINTEREST INCOME      
Revenue, fees and commissions $ 52,425 $ 63,344 $ 5,321