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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
INTEREST INCOME:        
Interest and fees on loans $ 40,890 $ 50,750 $ 81,915 $ 100,274
Taxable interest on investment securities 7,607 4,050 13,610 7,584
Nontaxable interest on investment securities 893 947 1,753 1,905
Interest on interest earning deposits 2,342 263 3,048 438
Total interest income 51,732 56,010 100,326 110,201
INTEREST EXPENSE:        
Deposits 1,413 1,524 2,837 3,252
Junior subordinated debentures 239 186 433 373
Other borrowings 32 35 64 73
Total interest expense 1,684 1,745 3,334 3,698
Net interest income 50,048 54,265 96,992 106,503
Reversal of provision for credit losses (1,204) (13,987) (4,781) (21,186)
Net interest income after reversal of provision for credit losses 51,252 68,252 101,773 127,689
NONINTEREST INCOME:        
Service charges and other fees 2,391 2,067 4,687 3,959
Card revenue 2,332 2,338 4,773 4,435
Gain on sale of investment securities, net 0 0 0 29
Gain on sale of loans, net 219 1,003 460 2,373
Interest rate swap fees 26 209 305 361
Bank owned life insurance income 764 717 2,459 1,373
Gain on sale of other assets, net 0 724 204 746
Other income 1,284 1,239 2,666 3,272
Total noninterest income 7,016 8,297 15,554 16,548
NONINTEREST EXPENSE:        
Compensation and employee benefits 21,778 21,803 43,030 44,004
Occupancy and equipment 4,171 4,091 8,502 8,545
Data processing 4,185 3,998 8,246 7,810
Marketing 344 567 610 1,080
Professional services 529 1,037 1,228 2,307
State/municipal business and use taxes 867 991 1,663 1,963
Federal deposit insurance premium 425 339 1,025 928
Amortization of intangible assets 704 797 1,408 1,594
Other expense 2,704 2,773 5,715 5,407
Total noninterest expense 35,707 36,396 71,427 73,638
Income before income taxes 22,561 40,153 45,900 70,599
Income tax expense 3,977 7,451 7,559 12,553
Net income $ 18,584 $ 32,702 $ 38,341 $ 58,046
Basic earnings per common share (in usd per share) $ 0.53 $ 0.91 $ 1.09 $ 1.61
Diluted earnings per common share (in usd per share) 0.52 0.90 1.08 1.60
Dividends declared per common share (in usd per share) $ 0.21 $ 0.20 $ 0.42 $ 0.40
Basic weighted average common shares outstanding (in shares) 35,110,334 35,994,740 35,102,572 35,961,032
Weighted Average Number of Shares Outstanding, Diluted 35,409,524 36,289,464 35,412,722 36,268,861