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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Interest income:      
Loans (including fee income) $ 158,228 $ 144,380 $ 126,420
Mortgage-backed securities, CMOs and other asset-backed securities 16,182 16,591 15,231
U.S. GSE securities 465 837 1,198
State and municipal obligations 2,234 2,812 3,788
Corporate bonds 1,200 1,422 1,233
Deposits with banks 1,697 1,076 278
Other interest and dividend income 1,535 1,866 1,701
Total interest income 181,541 168,984 149,849
Interest expense:      
Savings, NOW and money market deposits 23,687 15,928 7,858
Certificates of deposit of $100,000 or more 4,270 3,007 1,843
Other time deposits 1,502 1,801 725
Federal funds purchased and repurchase agreements 767 1,200 1,571
FHLB advances 4,573 5,729 6,105
Subordinated debentures 4,539 4,539 4,539
Junior subordinated debentures     48
Total interest expense 39,338 32,204 22,689
Net interest income 142,203 136,780 127,160
Provision for loan losses 5,700 1,800 14,050
Net interest income after provision for loan losses 136,503 134,980 113,110
Non-interest income:      
Service charges and other fees 10,059 9,853 8,996
Net securities gains (losses) 201 (7,921) 38
Title fees 1,720 1,797 2,394
Gain on sale of Small Business Administration ("SBA") loans 1,984 2,078 1,689
Bank owned life insurance 2,230 2,219 2,250
Loan swap fees 7,460 716 1,008
Other 1,733 2,826 1,727
Total non-interest income 25,387 11,568 18,102
Non-interest expense:      
Salaries and employee benefits 56,244 50,458 46,560
Occupancy and equipment 14,372 13,245 13,998
Technology and communications 7,905 6,465 5,753
Marketing and advertising 4,740 4,597 4,742
Professional services 3,797 4,004 3,153
FDIC assessments 608 1,665 1,310
Net fraud loss   8,900  
Office relocation costs   750  
Restructuring Costs     8,020
Amortization of other intangible assets 787 917 1,047
Other 7,686 7,179 7,144
Total non-interest expense 96,139 98,180 91,727
Income before income taxes 65,751 48,368 39,485
Income tax expense 14,060 9,141 18,946
Net income $ 51,691 $ 39,227 $ 20,539
Basic earnings per share (in dollars per share) $ 2.59 $ 1.97 $ 1.04
Diluted earnings per share (in dollars per share) $ 2.59 $ 1.97 $ 1.04