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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
INTEREST INCOME        
Loans $ 47,360 $ 50,848 $ 95,069 $ 104,978
Investment securities and other 3,092 3,163 6,016 6,507
TOTAL INTEREST INCOME 50,452 54,011 101,085 111,485
INTEREST EXPENSE        
Deposits 3,457 9,041 7,679 19,618
Short-term borrowings and repurchase agreements 10 10 19 659
Subordinated debentures issued to capital trust 113 167 226 383
Subordinated notes 2,188 1,338 4,388 2,432
TOTAL INTEREST EXPENSE 5,768 10,556 12,312 23,092
NET INTEREST INCOME 44,684 43,455 88,773 88,393
PROVISION (CREDIT) FOR CREDIT LOSSES ON LOANS (1,000) 6,000 (700) 9,871
PROVISION (CREDIT) FOR UNFUNDED COMMITMENTS (307)   (981)  
NET INTEREST INCOME AFTER PROVISION (CREDIT) FOR CREDIT LOSSES AND PROVISION (CREDIT) FOR UNFUNDED COMMITMENTS 45,991 37,455 90,454 78,522
NON-INTEREST INCOME        
Commissions 370 176 652 442
Overdraft and Insufficient funds fees 1,528 1,136 2,972 3,077
Point-Of-Sale and ATM fee income and service charges 3,971 3,004 7,329 5,821
Net gains on loan sales 2,613 1,841 5,301 2,430
Late charges and fees on loans 358 468 659 824
Gain (loss) on derivative interest rate products (179) (106) 295 (514)
Net realized gains on sales of available-for-sale securities   78   78
Other income 924 1,664 2,113 3,469
TOTAL NON-INTEREST INCOME 9,585 8,261 19,321 15,627
NON-INTEREST EXPENSE        
Salaries and employee benefits 17,934 16,830 35,054 34,999
Net occupancy and equipment expense 6,706 6,707 13,768 13,473
Postage 750 777 1,628 1,546
Insurance 759 534 1,519 916
Advertising 605 437 1,190 1,057
Office supplies and printing 161 301 438 535
Telephone 868 1,005 1,749 1,917
Legal, audit and other professional fees 531 664 1,178 1,262
Expense on other real estate and repossessions 102 268 370 747
Acquired deposit intangible asset amortization 258 289 547 577
Other operating expenses 1,517 1,537 3,071 3,134
TOTAL NON-INTEREST EXPENSE 30,191 29,349 60,512 60,163
INCOME BEFORE INCOME TAXES 25,385 16,367 49,263 33,986
PROVISION FOR INCOME TAXES 5,271 3,164 10,281 5,915
NET INCOME AND NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 20,114 $ 13,203 $ 38,982 $ 28,071
Earnings Per Common Share        
Basic $ 1.47 $ 0.94 $ 2.84 $ 1.98
Diluted 1.46 0.93 2.82 1.98
Dividends Declared Per Common Share $ 0.34 $ 0.34 $ 0.68 $ 1.68