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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest Income:        
Loans and leases, including fees $ 31,674 $ 28,621 $ 88,015 $ 83,718
Securities available-for-sale:        
Taxable 832 546 2,472 1,813
Tax-exempt 331 364 894 1,064
Federal funds sold and other earning assets 474 327 1,074 1,206
Total interest income 33,311 29,858 92,455 87,801
Interest Expense:        
Deposits 2,153 2,897 6,733 11,016
Borrowings 121 334 360 674
Subordinated debt 655 584 1,823 1,751
Total interest expense 2,929 3,815 8,916 13,441
Net interest income 30,382 26,043 83,539 74,360
Provision for loan and lease losses 1,149 2,634 1,211 8,683
Net interest income after provision for loan losses 29,233 23,409 82,328 65,677
Noninterest Income:        
Service charges on deposit accounts 1,220 892 3,278 2,370
Gain (loss) on sale of securities 45 (9) 45 6
Mortgage banking 994 1,029 3,238 2,544
Investment services 448 359 1,546 1,159
Insurance commissions 745 560 2,768 1,302
Interchange and debit card transaction fees, net 1,078 868 2,839 1,652
Other 1,779 422 3,429 1,417
Total noninterest income 6,309 4,121 17,143 10,450
Noninterest Expense:        
Salaries and employee benefits 13,594 11,032 36,666 31,395
Occupancy and equipment 2,536 2,186 7,170 6,093
FDIC insurance 525 534 1,266 894
Other real estate and loan related expenses 407 643 1,514 1,535
Advertising and marketing 235 253 654 653
Data processing and technology 1,753 1,131 4,642 3,293
Professional services 810 594 2,300 2,172
Amortization of intangibles 711 402 1,597 1,169
Merger related and restructuring expenses 464 290 939 3,863
Other 2,274 2,102 6,822 5,699
Total noninterest expenses 23,309 19,167 63,570 56,766
Income before income tax expense 12,233 8,363 35,901 19,361
Income tax expense 2,633 1,968 7,767 4,059
Net income $ 9,600 $ 6,395 $ 28,134 $ 15,302
Earnings per common share:        
Basic (in dollars per share) $ 0.62 $ 0.42 $ 1.85 $ 1.03
Diluted (in dollars per share) $ 0.61 $ 0.42 $ 1.84 $ 1.02
Weighted average common shares outstanding:        
Basic (in shares) 15,557,528 15,160,579 15,192,919 14,903,757
Diluted (in shares) 15,691,126 15,210,611 15,312,755 14,965,455