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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income:        
Loans, including fees $ 32,635 $ 27,264 $ 100,262 $ 81,321
Securities, taxable 2,481 3,504 9,584 12,149
Securities, exempt from Federal tax 463 530 1,458 1,624
Other investments, interest-bearing deposits in other financial institutions and Federal funds sold 673 1,952 3,022 5,094
Total interest income 36,252 33,250 114,326 100,188
Interest expense:        
Deposits 1,504 2,042 4,904 5,873
Subordinated debt 583 583 1,737 1,731
Short-term borrowings       1
Total interest expense 2,087 2,625 6,641 7,605
Net interest income before provision for credit losses on loans 34,165 30,625 107,685 92,583
Provision (credit) for credit losses on loans 197 (576) 14,581 (2,377)
Net interest income after provision for credit losses on loans 33,968 31,201 93,104 94,960
Noninterest income:        
Increase in cash surrender value of life insurance 464 336 1,380 999
Gain on sales of SBA loans 400 156 467 331
Servicing income 187 139 575 480
Gain on sales of securities   330 270 878
Other 912 625 2,132 1,793
Total noninterest income 2,595 2,618 7,866 7,851
Noninterest expense:        
Salaries and employee benefits 11,967 10,467 38,470 31,935
Occupancy and equipment 2,283 1,550 5,821 4,634
Professional fees 1,352 789 3,942 2,360
Other 5,566 5,103 19,721 15,343
Total noninterest expense 21,168 17,909 67,954 54,272
Income before income taxes 15,395 15,910 33,016 48,539
Income tax expense 4,198 4,633 9,340 13,763
Net income $ 11,197 $ 11,277 $ 23,676 $ 34,776
Earnings per common share:        
Basic (in dollars per share) $ 0.19 $ 0.26 $ 0.40 $ 0.81
Diluted (in dollars per share) $ 0.19 $ 0.26 $ 0.39 $ 0.80
Service charges and fees on deposit accounts        
Noninterest income:        
Non-interest income $ 632 $ 1,032 $ 2,251 $ 3,370
Revenue, Product and Service [Extensible List] Service charges and fees on deposit accounts Service charges and fees on deposit accounts Service charges and fees on deposit accounts Service charges and fees on deposit accounts
Gain on the disposition of foreclosed assets        
Noninterest income:        
Non-interest income     $ 791  
Revenue, Product and Service [Extensible List]     Gain on the disposition of foreclosed assets Gain on the disposition of foreclosed assets