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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest and dividend income:        
Loans/leases, including fees $ 47,515 $ 35,408 $ 93,082 $ 69,622
Securities:        
Taxable 1,678 1,594 3,344 3,150
Nontaxable 3,474 3,295 7,018 6,584
Interest-bearing deposits at financial institutions 1,168 228 2,091 425
Restricted investment securities 290 212 598 446
Federal funds sold 56 62 150 118
Total interest and dividend income 54,181 40,799 106,283 80,345
Interest expense:        
Deposits 13,825 6,528 26,304 11,410
Short-term borrowings 81 63 152 95
Federal Home Loan Bank advances 601 1,019 1,662 2,215
Other borrowings 92 596 539 1,182
Subordinated notes. 993   1,557  
Junior subordinated debentures 576 508 1,148 955
Total interest expense 16,168 8,714 31,362 15,857
Net interest income 38,013 32,085 74,921 64,488
Provision for loan/lease losses 1,941 2,301 4,075 4,841
Net interest income after provision for loan/lease losses 36,072 29,784 70,846 59,647
Noninterest income:        
Revenue 71,246 49,711 135,341 97,799
Gains on sales of residential real estate loans, net 489 102 858 203
Gains on sales of government guaranteed portions of loans, net 39   70 358
Swap fee income 7,891 1,649 11,089 2,608
Securities losses, net (52)   (52)  
Earnings on bank-owned life insurance 412 399 952 817
Other 1,293 979 2,357 1,934
Total noninterest income 17,065 8,912 29,058 17,454
Noninterest expense:        
Salaries and employee benefits 22,749 15,804 43,628 31,782
Occupancy and equipment expense 3,533 3,133 7,227 6,198
Professional and data processing fees 3,031 2,771 5,781 5,479
Acquisition costs   414   506
Post-acquisition compensation, transition and integration costs 708 165 842 165
FDIC insurance, other insurance and regulatory fees 926 840 1,890 1,597
Loan/lease expense 312 260 526 551
Net cost of (income from) and gains/losses on operations of other real estate 1,182 (70) 1,480 62
Advertising and marketing 1,037 753 1,822 1,446
Bank service charges 508 466 991 907
Correspondent banking expense 206 204 410 409
CDI amortization 615 305 1,147 609
Other 1,753 1,325 3,251 2,523
Total noninterest expense 36,560 26,370 68,995 52,234
Net income before income taxes 16,577 12,326 30,909 24,867
Federal and state income tax expense 3,073 1,881 4,487 3,872
Net income $ 13,504 $ 10,445 $ 26,422 $ 20,995
Basic earnings per common share (in dollars per share) $ 0.86 $ 0.75 $ 1.68 $ 1.51
Diluted earnings per common share (in dollars per share) $ 0.85 $ 0.73 $ 1.66 $ 1.48
Weighted average common shares outstanding (in shares) 15,714,588 13,919,565 15,703,967 13,904,113
Weighted average common and common equivalent shares outstanding (in shares) 15,938,377 14,232,423 15,930,659 14,219,003
Cash dividends declared per common share (in dollars per share) $ 0.06 $ 0.06 $ 0.12 $ 0.12
Trust department fees        
Noninterest income:        
Revenue $ 2,361 $ 2,058 $ 4,854 $ 4,295
Investment advisory and management services        
Noninterest income:        
Revenue 1,888 1,058 3,624 2,010
Deposit service fees        
Noninterest income:        
Revenue 1,658 1,610 3,212 3,142
Debit card fees        
Noninterest income:        
Revenue 914 844 1,706 1,610
Correspondent banking fees        
Noninterest income:        
Revenue $ 172 $ 213 $ 388 $ 477