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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income:        
Interest and fees on loans $ 35,580 $ 36,522 $ 104,651 $ 107,235
Interest and dividends on taxable investment securities 2,786 5,891 12,310 17,670
Interest on tax-exempt investment securities 614 690 1,903 1,956
Other interest income 33 506 317 945
Total interest income 39,013 43,609 119,181 127,806
Interest expense:        
Interest on deposits 2,669 6,159 10,582 16,722
Interest on short-term borrowings 742 1,150 2,355 3,556
Interest on long-term borrowings 483 546 1,629 1,811
Total interest expense 3,894 7,855 14,566 22,089
Net interest income 35,119 35,754 104,615 105,717
Provision for credit losses (a) 4,728 1,005 33,531 1,368
Net interest income after provision for credit losses 30,391 34,749 71,084 104,349
Non-interest income:        
Insurance income 3,608 3,386 10,929 11,493
Mortgage banking income 2,658 1,204 4,346 2,992
Bank owned life insurance income 462 487 1,514 1,462
Net gain on investment securities 2 97 383 70
Net loss on asset disposals and other transactions (28) (78) (237) (553)
Other non-interest income 534 510 1,393 2,113
Total non-interest income 16,770 16,393 47,171 47,111
Non-interest expense:        
Salaries and employee benefit costs 19,410 18,931 57,313 58,957
Net occupancy and equipment expense 3,383 3,098 9,688 9,208
Electronic banking expense 2,095 2,070 5,839 5,340
Data processing and software expense 1,838 1,572 5,344 4,684
Professional fees 1,720 1,544 5,247 5,164
Amortization of other intangible assets 857 953 2,314 2,471
Franchise tax expense 882 797 2,645 2,274
Marketing expense 456 634 1,561 1,718
Foreclosed real estate and other loan expenses 342 600 1,255 1,324
Communication expense 283 268 857 863
FDIC insurance premium 570 0 717 752
Other non-interest expense 2,479 2,526 7,665 10,974
Total non-interest expense 34,315 32,993 100,445 103,729
Income before income taxes 12,846 18,149 17,810 47,731
Income tax expense 2,636 3,281 3,616 8,896
Net income $ 10,210 $ 14,868 $ 14,194 $ 38,835
Earnings per common share - basic $ 0.52 $ 0.72 $ 0.70 $ 1.93
Earnings per common share - diluted $ 0.51 $ 0.72 $ 0.70 $ 1.91
Weighted-average number of common shares outstanding - basic 19,504,503 20,415,245 19,862,409 20,023,271
Weighted-average number of common shares outstanding - diluted 19,637,689 20,595,769 19,998,353 20,178,634
Cash dividends declared $ 6,770 $ 7,040 $ 20,622 $ 19,943
Cash dividends declared per common share $ 0.34 $ 0.34 $ 1.02 $ 0.98
Credit and Debit Card [Member]        
Non-interest income:        
Revenue from Contract with Customer, Including Assessed Tax $ 3,765 $ 3,577 $ 10,568 $ 9,831
Deposit Account [Member]        
Non-interest income:        
Revenue from Contract with Customer, Including Assessed Tax 2,266 3,233 6,995 8,551
Fiduciary and Trust [Member]        
Non-interest income:        
Revenue from Contract with Customer, Including Assessed Tax 3,435 3,205 10,013 9,718
Interest Rate Swap [Member] | Transaction fee [Member]        
Non-interest income:        
Revenue from Contract with Customer, Including Assessed Tax $ 68 $ 772 $ 1,267 $ 1,434