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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
INTEREST INCOME      
Loans, including fees $ 155,790 $ 165,663 $ 148,576
Securities available for sale:      
Taxable 8,782 10,228 8,903
Tax-exempt 210 322 401
Interest-earning deposits 968 4,457 1,806
Total interest income 165,750 180,670 159,686
INTEREST EXPENSE      
Checking accounts 6,425 13,697 8,125
Savings and money market accounts 7,102 18,589 12,806
Certificates of deposit 11,476 14,210 9,938
Borrowed funds 3,976 3,941 3,606
Finance lease liability 343 382 418
Subordinated debt 4,992 4,895 4,887
Subtotal – interest expense 34,314 55,714 39,780
Interest-bearing demand - brokered 2,773 3,457 3,135
Interest on certificates of deposits – brokered 1,061 1,225 1,608
Total interest expense 38,148 60,396 44,523
Net interest income before provision for loan and lease losses 127,602 120,274 115,163
Provision for loan and lease losses 32,400 4,000 3,550
Net interest income after provision for loan and lease losses 95,202 116,274 111,613
OTHER INCOME      
Wealth management fee income 40,861 38,363 33,245
Service charges and fees 3,155 3,488 3,502
Bank owned life insurance 1,273 1,321 1,381
Gain on loans held for sale at fair value (mortgage banking) 3,266 721 334
Gain/(loss) on loans held for sale at lower of cost or fair value 7,426 (10) (4,392)
Fee income related to loan level, back-to-back swaps 1,620 5,799 3,844
Gain on sale of SBA loans 1,766 2,145 1,636
Other income 2,112 2,752 5,036
Securities gains/(losses), net 281 117 (393)
Total other income 61,760 54,696 44,193
OPERATING EXPENSES      
Compensation and employee benefits 77,516 70,129 62,802
Premises and equipment 16,377 14,735 13,497
FDIC insurance expense 1,975 277 2,443
FHLB prepayment penalty 4,784    
Valuation allowance loans held for sale 4,425   232
Other operating expenses 19,882 19,707 19,344
Total operating expenses 124,959 104,848 98,086
Income before income tax expense 32,003 66,122 57,720
Income tax expense 5,811 18,688 13,550
Net income $ 26,192 $ 47,434 $ 44,170
EARNINGS PER SHARE      
Basic $ 1.39 $ 2.46 $ 2.33
Diluted $ 1.37 $ 2.44 $ 2.31