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CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest and fees on loans        
Taxable $ 42,342 $ 42,649 $ 85,803 $ 88,703
Tax exempt 101 216 205 438
Interest and dividends on securities        
Taxable 2,177 1,869 4,012 3,842
Tax exempt 2,870 2,033 5,359 4,039
Other interest income 135 64 223 248
Total interest income 47,625 46,831 95,602 97,270
Interest on deposits 3,890 7,184 8,108 18,383
Interest on borrowings        
Short-term 0 45 7 407
Long-term 74 74 147 98
Total interest expense 3,964 7,303 8,262 18,888
NET INTEREST INCOME 43,661 39,528 87,340 78,382
Provision for credit losses* [1] (1,700)   (223)  
Provision for credit losses   5,500 [1]   12,100 [2]
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 45,361 34,028 87,563 66,282
NONINTEREST INCOME        
Wealth advisory fees 2,078 1,805 4,256 3,664
Investment brokerage fees 575 310 1,039 727
Service charges on deposit accounts 2,521 2,189 5,012 4,961
Loan and service fees 3,042 2,425 5,818 4,833
Merchant card fee income 766 594 1,388 1,263
Bank owned life insurance income 705 836 1,461 544
Interest rate swap fee income 505 1,309 754 1,962
Mortgage banking income 415 1,354 1,788 1,940
Net securities gains 44 49 797 49
Other income 689 298 1,584 2,003
Total noninterest income 11,340 11,169 23,897 21,946
NONINTEREST EXPENSE        
Salaries and employee benefits 15,762 11,424 30,147 22,990
Net occupancy expense 1,427 1,545 2,930 2,932
Equipment costs 1,318 1,430 2,763 2,847
Data processing fees and supplies 3,204 2,829 6,523 5,711
Corporate and business development 699 627 2,208 1,738
FDIC insurance and other regulatory fees 495 403 959 670
Professional fees 1,839 1,053 3,716 2,200
Other expense 1,904 1,768 4,148 4,080
Total noninterest expense 26,648 21,079 53,394 43,168
INCOME BEFORE INCOME TAX EXPENSE 30,053 24,118 58,066 45,060
Income tax expense 5,705 4,448 10,735 8,091
NET INCOME $ 24,348 $ 19,670 $ 47,331 $ 36,969
BASIC WEIGHTED AVERAGE COMMON SHARES 25,473,497 25,412,014 25,465,621 25,517,499
BASIC EARNINGS PER COMMON SHARE (in dollars per share) $ 0.96 $ 0.77 $ 1.86 $ 1.45
DILUTED WEIGHTED AVERAGE COMMON SHARES 25,602,063 25,469,680 25,596,843 25,594,959
DILUTED EARNINGS PER COMMON SHARE (in dollars per share) $ 0.95 $ 0.77 $ 1.85 $ 1.44
[1]  Beginning January 1, 2021 calculation is based on the current expected credit loss methodology. Prior to January 1, 2021 calculation was based on the incurred loss methodology.
[2] Beginning January 1, 2021 calculation is based on the current expected credit loss methodology. Prior to January 1, 2021 calculation was based on the incurred loss methodology.