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CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest and fees on loans        
Taxable $ 43,025 $ 42,056 $ 128,828 $ 130,759
Tax exempt 119 104 324 542
Interest and dividends on securities        
Taxable 2,470 1,577 6,482 5,419
Tax exempt 3,556 2,198 8,915 6,237
Other interest income 125 44 348 292
Total interest income 49,295 45,979 144,897 143,249
Interest on deposits 3,479 5,941 11,587 24,324
Interest on borrowings        
Short-term 0 51 7 458
Long-term 75 74 222 172
Total interest expense 3,554 6,066 11,816 24,954
NET INTEREST INCOME 45,741 39,913 133,081 118,295
Provision for credit losses 1,300 [1]   1,077 [2]  
Provision for credit losses   1,750 [1]   13,850 [2]
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 44,441 38,163 132,004 104,445
NONINTEREST INCOME        
Wealth advisory fees 2,177 1,930 6,433 5,594
Investment brokerage fees 521 421 1,560 1,148
Service charges on deposit accounts 2,756 2,491 7,768 7,452
Loan and service fees 3,005 2,637 8,823 7,470
Merchant card fee income 838 670 2,226 1,933
Bank owned life insurance income 640 932 2,101 1,476
Interest rate swap fee income 180 2,143 934 4,105
Mortgage banking income (loss) (32) 1,005 1,756 2,945
Net securities gains 0 314 797 363
Other income 1,029 572 2,613 2,575
Total noninterest income 11,114 13,115 35,011 35,061
NONINTEREST EXPENSE        
Salaries and employee benefits 14,230 12,706 44,377 35,696
Net occupancy expense 1,413 1,404 4,343 4,336
Equipment costs 1,371 1,369 4,134 4,216
Data processing fees and supplies 3,169 3,025 9,692 8,736
Corporate and business development 1,000 586 3,208 2,324
FDIC insurance and other regulatory fees 748 554 1,707 1,224
Professional fees 1,342 1,306 5,058 3,506
Other expense 2,694 2,175 6,842 6,255
Total noninterest expense 25,967 23,125 79,361 66,293
INCOME BEFORE INCOME TAX EXPENSE 29,588 28,153 87,654 73,213
Income tax expense 5,469 5,377 16,204 13,468
NET INCOME $ 24,119 $ 22,776 $ 71,450 $ 59,745
BASIC WEIGHTED AVERAGE COMMON SHARES 25,479,654 25,418,712 25,472,185 25,484,329
BASIC EARNINGS PER COMMON SHARE (in dollars per share) $ 0.95 $ 0.89 $ 2.81 $ 2.34
DILUTED WEIGHTED AVERAGE COMMON SHARES 25,635,288 25,487,302 25,608,655 25,618,401
DILUTED EARNINGS PER COMMON SHARE (in dollars per share) $ 0.94 $ 0.89 $ 2.79 $ 2.33
[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.