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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income:        
Loans $ 16,131 $ 18,224 $ 49,214 $ 54,404
Mortgage-related securities 471 588 1,448 1,960
Debt securities, federal funds sold and short-term investments 904 732 2,637 2,493
Total interest income 17,506 19,544 53,299 58,857
Interest expense:        
Deposits 947 3,495 3,542 11,760
Borrowings 2,445 2,640 7,414 7,913
Total interest expense 3,392 6,135 10,956 19,673
Net interest income 14,114 13,409 42,343 39,184
Provision (credit) for loan losses (700) 1,025 (2,520) 6,310
Net interest income after provision for loan losses 14,814 12,384 44,863 32,874
Noninterest income:        
Service charges on loans and deposits 1,136 672 2,483 3,384
Increase in cash surrender value of life insurance 312 714 1,297 1,587
Mortgage banking income 46,547 72,112 150,587 166,292
Other 4,941 2,265 6,812 2,868
Total noninterest income 52,936 75,763 161,179 174,131
Noninterest expenses:        
Compensation, payroll taxes, and other employee benefits 34,229 39,405 102,278 100,695
Occupancy, office furniture and equipment 2,488 2,469 7,346 7,744
Advertising 835 861 2,570 2,625
Data processing 986 922 2,871 3,023
Communications 331 339 988 994
Professional fees 550 4,738 804 7,647
Real estate owned 1 11 (11) 55
Loan processing expense 1,135 1,336 3,670 3,620
Other 2,768 2,920 9,104 9,495
Total noninterest expenses 43,323 53,001 129,620 135,898
Income before income taxes 24,427 35,146 76,422 71,107
Income tax expense 5,427 8,853 18,184 17,797
Net income $ 19,000 $ 26,293 $ 58,238 $ 53,310
Income per share:        
Basic (in dollars per share) $ 0.80 $ 1.08 $ 2.45 $ 2.16
Diluted (in dollars per share) $ 0.79 $ 1.08 $ 2.43 $ 2.15
Weighted average shares outstanding:        
Basic (in shares) 23,785 24,297 23,790 24,720
Diluted (in shares) 23,960 24,380 23,987 24,842