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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 income:        
Interest and fees on loans $ 38,711 $ 34,483 $ 74,448 $ 69,071
Interest and dividends on taxable investment securities 3,168 4,141 5,742 9,524
Interest on tax-exempt investment securities 865 634 1,476 1,289
Other interest income 53 48 93 284
Total interest income 42,797 39,306 81,759 80,168
Interest expense:        
Interest on deposits 2,577 3,284 5,394 7,913
Interest on short-term borrowings 92 574 192 1,613
Interest on long-term borrowings 468 588 935 1,146
Total interest expense 3,137 4,446 6,521 10,672
Net interest income 39,660 34,860 75,238 69,496
Provision for (recovery of) credit losses 3,088 11,834 (1,661) 28,803
Net interest income after provision for (recovery of) credit losses 36,572 23,026 76,899 40,693
Non-interest income:        
Insurance income 3,335 3,191 8,556 7,321
Mortgage banking income 820 938 1,960 1,688
Bank owned life insurance income 446 470 892 1,052
Net (loss) gain on investment securities (202) 62 (538) 381
Net loss on asset disposals and other transactions (124) (122) (151) (209)
Other non-interest income 803 422 1,461 859
Total non-interest income 15,821 14,664 32,724 30,401
Non-interest expense:        
Salaries and employee benefit costs 21,928 17,985 42,687 37,903
Professional fees 3,565 1,834 7,033 3,527
Net occupancy and equipment expense 3,289 3,151 6,616 6,305
Data processing and software expense 2,411 1,754 4,865 3,506
Electronic banking expense 2,075 1,879 3,969 3,744
Marketing expense 676 632 1,587 1,105
Franchise tax expense 822 881 1,677 1,763
Amortization of other intangible assets 1,368 728 1,988 1,457
FDIC insurance premium 326 152 789 147
Other loan expenses 494 335 956 913
Communication expense 386 294 668 574
Other non-interest expense 2,559 2,180 5,051 5,186
Total non-interest expense 39,899 31,805 77,886 66,130
Income before income taxes 12,494 5,885 31,737 4,964
Income tax expense 2,391 1,136 6,171 980
Net income $ 10,103 $ 4,749 $ 25,566 $ 3,984
Earnings per common share - basic $ 0.52 $ 0.24 $ 1.32 $ 0.19
Earnings per common share - diluted $ 0.51 $ 0.23 $ 1.31 $ 0.19
Weighted-average number of common shares outstanding - basic 19,317,454 19,720,315 19,300,156 20,043,329
Weighted-average number of common shares outstanding - diluted 19,461,934 19,858,880 19,448,544 20,183,222
Cash dividends declared $ 7,065 $ 6,814 $ 13,898 $ 13,852
Cash dividends declared per common share $ 0.36 $ 0.34 $ 0.71 $ 0.68
Credit and Debit Card [Member]        
Non-interest income:        
Revenue from Contract with Customer, Including Assessed Tax $ 4,418 $ 3,523 $ 8,329 $ 6,803
Deposit Account [Member]        
Non-interest income:        
Revenue from Contract with Customer, Including Assessed Tax 2,044 1,909 4,029 4,729
Fiduciary and Trust [Member]        
Non-interest income:        
Revenue from Contract with Customer, Including Assessed Tax 4,220 3,316 8,065 6,578
Interest Rate Swap [Member] | Transaction fee [Member]        
Non-interest income:        
Revenue from Contract with Customer, Including Assessed Tax $ 61 $ 955 $ 121 $ 1,199