Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
INTEREST INCOME    
Loans, including Fees $ 40,683 $ 34,891
Investment Securities:    
Taxable Securities 4,238 4,912
Tax Exempt Securities 6 12
Federal Funds Sold and Interest Bearing Deposits 1,893 4,111
Total Interest Income 46,820 43,926
INTEREST EXPENSE    
Deposits 7,594 2,488
Short-Term Borrowings 240 461
Subordinated Notes Payable 628 571
Other Long-Term Borrowings 3 6
Total Interest Expense 8,465 3,526
NET INTEREST INCOME 38,355 40,400
Provision for Credit Losses 920 3,099
Net Interest Income After Provision for Credit Losses 37,435 37,301
NONINTEREST INCOME    
Other 1,667 1,994
Total Noninterest Income 18,097 17,758
NONINTEREST EXPENSE    
Compensation 24,407 23,524
Occupancy, Net 6,994 6,762
Other 8,770 7,389
Total Noninterest Expense 40,171 37,675
INCOME BEFORE INCOME TAXES 15,361 17,384
Income Tax Expense 3,536 3,710
NET INCOME 11,825 13,674
Loss Attributable to Noncontrolling Interests 732 35
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS $ 12,557 $ 13,709
BASIC NET INCOME PER SHARE (in dollars per shares) $ 0.74 $ 0.81
DILUTED NET INCOME PER SHARE (in dollars per shares) $ 0.74 $ 0.80
Average Basic Shares Outstanding 16,951 17,016
Average Diluted Shares Outstanding 16,969 17,045
Deposit fees [Member]    
NONINTEREST INCOME    
Noninterest income $ 5,250 $ 5,239
Bank card fees [Member]    
NONINTEREST INCOME    
Noninterest income 3,620 3,726
Wealth Management fees [Member]    
NONINTEREST INCOME    
Noninterest income 4,682 3,928
Mortgage Banking Revenues [Member]    
NONINTEREST INCOME    
Noninterest income $ 2,878 $ 2,871