XML 29 R4.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income:        
Interest and fees on loans $ 36,522 $ 33,355 $ 107,235 $ 91,486
Interest and dividends on taxable investment securities 5,891 5,577 17,670 17,057
Interest on tax-exempt investment securities 690 613 1,956 1,891
Other interest income 506 86 945 192
Total interest income 43,609 39,631 127,806 110,626
Interest expense:        
Interest on deposits 6,159 4,018 16,722 9,332
Interest on short-term borrowings 1,150 1,617 3,556 3,760
Interest on long-term borrowings 546 672 1,811 2,043
Total interest expense 7,855 6,307 22,089 15,135
Net interest income 35,754 33,324 105,717 95,491
Provision for loan losses 1,005 1,302 1,368 4,473
Net interest income after provision for loan losses 34,749 32,022 104,349 91,018
Non-interest income:        
Insurance income 3,386 3,388 11,493 11,412
Mortgage banking income 1,204 1,060 2,992 2,380
Bank owned life insurance income 487 495 1,462 1,460
Net gain (loss) on investment securities 97 0 70 (146)
Net (loss) gain on asset disposals and other transactions (78) 12 (553) (319)
Other non-interest income 510 391 2,113 2,143
Total non-interest income 16,393 14,353 47,111 42,577
Non-interest expense:        
Salaries and employee benefit costs 18,931 17,908 58,957 51,923
Net occupancy and equipment expense 3,098 2,850 9,208 8,519
Electronic banking expense 2,070 1,552 5,340 4,409
Data processing and software expense 1,572 1,408 4,684 4,089
Professional fees 1,544 1,395 5,164 6,135
Amortization of other intangible assets 953 862 2,471 2,477
Franchise tax expense 797 616 2,274 1,874
Marketing expense 634 456 1,718 1,437
Foreclosed real estate and other loan expenses 600 373 1,324 923
Communication expense 268 305 863 949
FDIC insurance expense 0 391 752 1,173
Other non-interest expense 2,526 2,713 10,974 11,113
Total non-interest expense 32,993 30,829 103,729 95,021
Income before income taxes 18,149 15,546 47,731 38,574
Income tax expense 3,281 2,821 8,896 6,216
Net income $ 14,868 $ 12,725 $ 38,835 $ 32,358
Earnings per common share - basic $ 0.72 $ 0.65 $ 1.93 $ 1.70
Earnings per common share - diluted $ 0.72 $ 0.65 $ 1.91 $ 1.69
Weighted-average number of common shares outstanding - basic 20,415,245 19,325,457 20,023,271 18,875,290
Weighted-average number of common shares outstanding - diluted 20,595,769 19,466,865 20,178,634 19,004,087
Cash dividends declared $ 7,040 $ 5,472 $ 19,943 $ 15,709
Cash dividends declared per common share $ 0.34 $ 0.28 $ 0.98 $ 0.82
Credit and Debit Card [Member]        
Non-interest income:        
Revenue from Contract with Customer, Including Assessed Tax $ 3,577 $ 2,890 $ 9,831 $ 8,460
Deposit Account [Member]        
Non-interest income:        
Revenue from Contract with Customer, Including Assessed Tax 3,233 2,652 8,551 7,160
Fiduciary and Trust [Member]        
Non-interest income:        
Revenue from Contract with Customer, Including Assessed Tax 3,205 3,110 9,718 9,410
Interest Rate Swap [Member] | Transaction fee [Member]        
Non-interest income:        
Revenue from Contract with Customer, Including Assessed Tax $ 772 $ 355 $ 1,434 $ 617