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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Interest and dividend income:    
Loans, including fees $ 117,124 $ 77,342
Securities:    
Taxable 3,730 743
Tax-exempt 11 29
Money market funds and commercial paper 159 135
Overnight deposits 7,739 5,042
Other interest and dividends 1,017 654
Total interest income 129,780 83,945
Interest expense:    
Deposits 25,533 9,103
Borrowed funds 4,118 1,149
Trust preferred securities interest expense 899 846
Subordinated debt interest expense 1,620 1,619
Total interest expense 32,170 12,717
Net interest income 97,610 71,228
Provision for loan losses 4,223 3,138
Net interest income after provision for loan losses 93,387 68,090
Non-interest income:    
Service charges on deposit accounts 3,556 4,248
Prepaid third-party debit card income 5,643 4,640
Other service charges and fees 1,366 3,305
Unrealized gain on equity securities 64  
Loss on call of securities   (37)
Total non-interest income 10,629 12,156
Non-interest expense:    
Compensation and benefits 31,242 25,658
Bank premises and equipment 6,530 5,063
Professional fees 3,427 2,922
Technology costs 10,992 3,987
Other expenses 7,764 5,841
Total non-interest expense 59,955 43,471
Net income before income tax expense 44,061 36,775
Income tax expense 13,927 11,221
Net income $ 30,134 $ 25,554
Earnings per common share:    
Basic earnings per common share (in dollars per share) $ 3.63 $ 3.12
Diluted earnings per common share (in dollars per share) $ 3.56 $ 3.06