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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest and fees on loans        
Taxable $ 50,139 $ 46,127 $ 149,094 $ 132,360
Tax exempt 234 208 720 627
Interest and dividends on securities        
Taxable 2,209 2,275 6,956 7,201
Tax exempt 1,819 1,570 5,171 4,367
Other interest income 368 199 957 687
Total interest income 54,769 50,379 162,898 145,242
Interest on deposits 14,692 11,473 44,131 31,488
Interest on borrowings        
Short-term 113 555 1,295 861
Long-term 419 426 1,307 1,212
Total interest expense 15,224 12,454 46,733 33,561
NET INTEREST INCOME 39,545 37,925 116,165 111,681
Provision for loan losses 1,000 1,100 2,985 6,100
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 38,545 36,825 113,180 105,581
NONINTEREST INCOME        
Wealth advisory fees 1,736 1,627 5,002 4,676
Investment brokerage fees 386 376 1,300 1,043
Service charges on deposit accounts 3,654 4,114 12,791 11,542
Loan and service fees 2,518 2,327 7,403 6,925
Merchant card fee income 690 643 1,982 1,834
Bank owned life insurance income 515 466 1,246 1,177
Mortgage banking income 636 319 1,256 998
Net securities gains (losses) 6 0 94 (6)
Other income 624 752 2,804 2,036
Total noninterest income 10,765 10,624 33,878 30,225
NONINTEREST EXPENSE        
Salaries and employee benefits 12,837 12,755 37,231 36,267
Net occupancy expense 1,351 1,229 4,000 3,892
Equipment costs 1,385 1,316 4,143 3,840
Data processing fees and supplies 2,620 2,489 7,619 7,292
Corporate and business development 999 891 3,376 3,070
FDIC insurance and other regulatory fees (249) 412 566 1,282
Professional fees 1,479 934 3,487 2,716
Other expense 2,315 2,174 6,880 5,346
Total noninterest expense 22,737 22,200 67,302 63,705
INCOME BEFORE INCOME TAX EXPENSE 26,573 25,249 79,756 72,101
Income tax expense 5,119 4,679 14,907 13,053
NET INCOME $ 21,454 $ 20,570 $ 64,849 $ 59,048
BASIC WEIGHTED AVERAGE COMMON SHARES 25,622,338 25,301,033 25,576,740 25,284,085
BASIC EARNINGS PER COMMON SHARE $ 0.84 $ 0.81 $ 2.54 $ 2.33
DILUTED WEIGHTED AVERAGE COMMON SHARES 25,796,696 25,745,151 25,745,029 25,719,693
DILUTED EARNINGS PER COMMON SHARE $ 0.83 $ 0.80 $ 2.52 $ 2.30