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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest and dividend income        
Loans $ 25,094 $ 25,918 $ 72,490 $ 80,398
Securities and other 3,821 4,557 11,792 15,006
Total interest and dividend income 28,915 30,475 84,282 95,404
Interest expense        
Deposits 1,555 3,869 7,109 14,437
Borrowings 1,778 1,941 5,415 7,149
Total interest expense 3,333 5,810 12,524 21,586
Net interest income 25,582 24,665 71,758 73,818
Provision for credit losses (174) 1,800 (1,428) 4,265
Net interest income after provision for loan losses 25,756 22,865 73,186 69,553
Non-interest income        
Trust and investment management fee income 3,868 3,532 11,335 10,060
Customer service fees 3,515 2,886 9,742 8,437
Gain on sales of securities, net 1,930   1,980 1,486
Mortgage banking income 850 2,649 4,973 4,230
Bank-owned life insurance income 494 492 1,510 1,525
Customer derivative income 341 316 837 1,417
Other income 352 227 726 1,078
Total non-interest income 11,350 10,102 31,103 28,233
Non-interest expense        
Salaries and employee benefits 11,743 11,809 35,275 35,602
Occupancy and equipment 4,029 4,279 12,251 12,559
Loss (gain) on sales of premises and equipment, net (146)   (137) 90
Outside services 547 438 1,512 1,414
Professional services 491 479 1,200 1,488
Communication 188 215 707 698
Marketing 339 300 1,163 970
Amortization of intangible assets 233 256 707 768
Loss on debt extinguishment 1,768   1,768 1,351
Acquisition, conversion and other expenses 318 691 1,759 952
Other expenses 3,862 3,952 11,382 11,152
Total non-interest expense 23,372 22,419 67,587 67,044
Income before income taxes 13,734 10,548 36,702 30,742
Income tax expense 2,706 2,146 7,169 6,138
Net income $ 11,028 $ 8,402 $ 29,533 $ 24,604
Earnings per share:        
Basic (in dollars per share) $ 0.74 $ 0.56 $ 1.97 $ 1.60
Diluted (in dollars per share) $ 0.73 $ 0.56 $ 1.96 $ 1.60
Weighted average common shares outstanding:        
Basic (in shares) 14,982,766 15,079,413 14,960,753 15,358,803
Diluted (in shares) 15,050,756 15,102,834 15,034,582 15,381,866