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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income:        
Interest and fees on loans $ 36,005 $ 42,138 $ 76,013 $ 83,882
Interest on mortgage loans held for sale 440 288 725 468
Taxable interest on debt securities 5,477 7,006 11,311 14,232
Nontaxable interest on debt securities 0 8 0 17
Dividends on Federal Home Loan Bank stock 654 720 1,294 1,415
Other interest income 36 399 385 739
Total interest and dividend income 42,612 50,559 89,728 100,753
Interest expense:        
Deposits 7,112 9,469 15,648 18,165
Federal Home Loan Bank advances 4,382 6,980 10,147 13,641
Junior subordinated debentures 171 252 384 505
Other interest expense 2 0 2 0
Total interest expense 11,667 16,701 26,181 32,311
Net interest income [1] 30,945 33,858 63,547 68,442
Provision for credit losses 2,200 525 9,236 1,175
Net interest income after provision for credit losses 28,745 33,333 54,311 67,267
Noninterest income:        
Wealth management revenues [1] 8,605 9,549 17,294 18,801
Mortgage banking revenues [1] 14,851 3,640 20,947 6,286
Card interchange fees [1] 1,031 1,018 1,978 2,015
Service charges on deposit accounts [1] 517 929 1,377 1,804
Loan related derivative income [1] 99 746 2,554 1,470
Income from bank-owned life insurance [1] 791 566 1,355 1,215
Net realized losses on securities [1] 0 (80) 0 (80)
Other income [1] 426 385 742 609
Total noninterest income [1] 26,320 16,753 46,247 32,120
Noninterest expense:        
Salaries and employee benefits 19,464 18,436 38,932 36,055
Outsourced services 2,784 2,518 5,784 5,124
Net occupancy 1,909 1,904 3,928 3,902
Equipment 895 1,028 1,872 2,039
Legal, audit and professional fees 659 664 1,481 1,198
FDIC deposit insurance costs 674 540 1,096 969
Advertising and promotion 186 525 445 764
Amortization of intangibles 230 239 460 478
Other expenses 1,677 2,297 4,933 4,586
Total noninterest expense 28,478 28,151 58,931 55,115
Income before income taxes 26,587 21,935 41,627 44,272
Income tax expense 5,547 4,662 8,686 9,504
Net income 21,040 17,273 32,941 34,768
Net income available to common shareholders $ 21,000 $ 17,238 $ 32,869 $ 34,699
Weighted average common shares outstanding - basic 17,257 17,330 17,301 17,317
Weighted average common shares outstanding - diluted 17,292 17,405 17,377 17,403
Per share information:        
Basic earnings per common share $ 1.22 $ 0.99 $ 1.90 $ 2.00
Diluted earnings per common share $ 1.21 $ 0.99 $ 1.89 $ 1.99
[1]
As reported in the Consolidated Statements of Income.