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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest and dividend income:        
Loans, including fees $ 39,234 $ 32,983 $ 76,074 $ 65,811
Securities:        
Taxable 1,168 636 1,904 2,008
Tax-exempt 52   87  
Money market funds   4   34
Overnight deposits 442 374 786 1,967
Other interest and dividends 154 226 305 471
Total interest income 41,050 34,223 79,156 70,291
Interest expense:        
Deposits 3,565 2,915 6,736 8,682
Borrowed funds   583   1,319
Trust preferred securities interest expense 107 159 215 349
Subordinated debt interest expense 405 405 809 809
Total interest expense 4,077 4,062 7,760 11,159
Net interest income 36,973 30,161 71,396 59,132
Provision for loan losses 1,875 1,766 2,825 6,556
Net interest income after provision for loan losses 35,098 28,395 68,571 52,576
Non-interest income:        
Unrealized gain (loss) on equity securities 4 19 (36) 55
Gain on sale of securities 609 2,312 609 3,286
Total non-interest income 6,156 5,653 10,749 9,989
Non-interest expense:        
Compensation and benefits 11,211 10,058 22,638 20,017
Bank premises and equipment 2,000 1,887 4,024 4,387
Professional fees 2,003 882 3,306 1,837
Licensing fees and technology costs 3,514 3,460 6,515 7,265
Other expenses 2,961 1,997 5,528 4,291
Total non-interest expense 21,689 18,284 42,011 37,797
Net income before income tax expense 19,565 15,764 37,309 24,768
Income tax expense 6,229 4,953 11,856 7,860
Net income $ 13,336 $ 10,811 $ 25,453 $ 16,908
Earnings per common share:        
Basic earnings per common share (in dollars per share) $ 1.59 $ 1.30 $ 3.06 $ 2.04
Diluted earnings per common share (in dollars per share) $ 1.55 $ 1.28 $ 2.98 $ 2.00
Service charges on deposit accounts        
Non-interest income:        
Non-interest income $ 1,349 $ 803 $ 2,414 $ 1,883
Revenue, Product and Service [Extensible List] Service charges on deposit accounts Service charges on deposit accounts Service charges on deposit accounts Service charges on deposit accounts
Prepaid third-party debit card income.        
Non-interest income:        
Non-interest income $ 3,628 $ 2,108 $ 6,894 $ 3,729
Revenue, Product and Service [Extensible List] Prepaid third-party debit card income. Prepaid third-party debit card income. Prepaid third-party debit card income. Prepaid third-party debit card income.
Other service charges and fees        
Non-interest income:        
Non-interest income $ 566 $ 411 $ 868 $ 1,036
Revenue, Product and Service [Extensible List] Other service charges and fees Other service charges and fees Other service charges and fees Other service charges and fees