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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income:        
Interest and fees on loans $ 34,925 $ 41,558 $ 110,938 $ 125,440
Interest on mortgage loans held for sale 468 410 1,193 878
Taxable interest on debt securities 4,870 6,318 16,181 20,550
Nontaxable interest on debt securities 0 1 0 18
Dividends on Federal Home Loan Bank stock 532 747 1,826 2,162
Other interest income 39 493 424 1,232
Total interest and dividend income 40,834 49,527 130,562 150,280
Interest expense:        
Deposits 5,532 9,792 21,180 27,957
Federal Home Loan Bank advances 3,354 6,512 13,501 20,153
Junior subordinated debentures 135 245 519 750
Other interest expense 159 0 161 0
Total interest expense 9,180 16,549 35,361 48,860
Net interest income [1] 31,654 32,978 95,201 101,420
Provision for credit losses 1,325 400 10,561 1,575
Net interest income after provision for credit losses 30,329 32,578 84,640 99,845
Noninterest income:        
Wealth management revenues [1] 8,954 9,153 26,248 27,954
Mortgage banking revenues [1] 12,353 4,840 33,300 11,126
Card interchange fees [1] 1,161 1,099 3,139 3,114
Service charges on deposit accounts [1] 598 939 1,975 2,743
Loan related derivative income [1] 1,264 1,407 3,818 2,877
Income from bank-owned life insurance [1] 567 569 1,922 1,784
Net realized losses on securities [1] 0 0 0 (80)
Other income [1] 571 335 1,313 944
Total noninterest income [1] 25,468 18,342 71,715 50,462
Noninterest expense:        
Salaries and employee benefits 21,892 18,332 60,824 54,387
Outsourced services 3,160 2,722 8,944 7,846
Net occupancy 2,012 1,933 5,940 5,835
Equipment 934 1,046 2,806 3,085
Legal, audit and professional fees 1,252 645 2,733 1,843
FDIC deposit insurance costs 392 (460) 1,488 509
Advertising and promotion 384 368 829 1,132
Amortization of intangibles 228 236 688 714
Other expenses 2,090 2,048 7,023 6,634
Total noninterest expense 32,344 26,870 91,275 81,985
Income before income taxes 23,453 24,050 65,080 68,322
Income tax expense 5,131 5,236 13,817 14,740
Net income 18,322 18,814 51,263 53,582
Net income available to common shareholders $ 18,285 $ 18,778 $ 51,154 $ 53,477
Weighted average common shares outstanding - basic 17,260 17,338 17,287 17,324
Weighted average common shares outstanding - diluted 17,317 17,414 17,369 17,406
Per share information:        
Basic earnings per common share $ 1.06 $ 1.08 $ 2.96 $ 3.09
Diluted earnings per common share $ 1.06 $ 1.08 $ 2.95 $ 3.07
[1] As reported in the Consolidated Statements of Income.