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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ 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 $ 33,120 $ 36,092 $ 67,165 $ 71,813
Taxable interest on investments 4,883 4,941 9,761 9,935
Nontaxable interest on investments 828 624 1,615 1,268
Dividend income 167 174 335 404
Other interest income 180 606 515 1,026
Total interest income 39,178 42,437 79,391 84,446
Interest Expense        
Interest on deposits 3,392 9,156 10,054 17,579
Interest on borrowings 359 885 1,197 1,859
Interest on subordinated debentures 888 823 1,775 1,540
Total interest expense 4,639 10,864 13,026 20,978
Net interest income 34,539 31,573 66,365 63,468
Provision for credit losses 9,398 1,173 11,173 1,917
Net interest income after provision for credit losses 25,141 30,400 55,192 61,551
Non-Interest Income        
Mortgage banking income, net 4,691 1,742 8,225 2,994
Bank-owned life insurance 614 603 1,303 1,197
Brokerage and insurance commissions 622 732 1,279 1,317
Customer loan swap fees 57 285 171 810
Net gain on sale of securities 0 27 0 27
Other income 745 613 1,499 1,621
Total non-interest income 12,060 10,037 23,463 19,426
Non-Interest Expense        
Salaries and employee benefits 13,627 13,461 27,954 26,439
Furniture, equipment and data processing 2,710 2,723 5,500 5,403
Net occupancy costs 1,997 1,639 4,000 3,553
Consulting and professional fees 1,181 974 1,964 1,787
Debit card expense 878 883 1,812 1,706
Regulatory assessments 299 437 461 909
Amortization of core deposit intangible assets 171 176 341 352
Other real estate owned and collection costs, net 98 409 199 102
Other expenses 2,548 3,256 5,839 6,490
Total non-interest expense 23,509 23,958 48,070 46,741
Income before income tax expense 13,692 16,479 30,585 34,236
Income Tax Expense 2,752 3,275 6,152 6,759
Net Income $ 10,940 $ 13,204 $ 24,433 $ 27,477
Per Share Data        
Basic earnings per share $ 0.73 $ 0.85 $ 1.62 $ 1.76
Diluted earnings per share $ 0.73 $ 0.85 $ 1.62 $ 1.76
Weighted average number of common shares outstanding 14,959,851 15,519,827 15,031,525 15,555,770
Diluted weighted average number of common shares outstanding 14,997,611 15,559,760 15,069,132 15,595,654
Cash dividends declared per share $ 0.33 $ 0.30 $ 0.66 $ 0.60
Debit Card [Member]        
Non-Interest Income        
Revenue $ 2,391 $ 2,281 $ 4,532 $ 4,291
Deposit Account [Member]        
Non-Interest Income        
Revenue 1,337 2,209 3,349 4,232
Fiduciary and Trust [Member]        
Non-Interest Income        
Revenue $ 1,603 $ 1,545 $ 3,105 $ 2,937