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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Interest and dividend income:    
Loans/leases, including fees $ 43,159 $ 45,568
Securities:    
Taxable 1,727 1,666
Nontaxable 3,459 3,545
Interest-bearing deposits at financial institutions 361 923
Restricted investment securities 258 307
Federal funds sold 18 93
Total interest and dividend income 48,982 52,102
Interest expense:    
Deposits 9,206 12,479
Short-term borrowings 64 71
Federal Home Loan Bank advances 449 903
Other borrowings   605
Subordinated notes 994 564
Junior subordinated debentures 571 572
Total interest expense 11,284 15,194
Net interest income 37,698 36,908
Provision for loan/lease losses 8,367 2,134
Net interest income after provision for loan/lease losses 29,331 34,774
Noninterest income:    
Revenue 64,178 64,095
Gains on sales of residential real estate loans, net 652 369
Gains on sales of government guaranteed portions of loans, net   31
Swap fee income 6,804 3,198
Earnings on bank-owned life insurance 329 540
Other 922 1,064
Total noninterest income 15,196 11,993
Noninterest expense:    
Salaries and employee benefits 18,519 20,879
Occupancy and equipment expense 4,032 3,694
Professional and data processing fees 3,369 2,750
Post-acquisition compensation, transition and integration costs 151 134
Disposition costs 517  
FDIC insurance, other insurance and regulatory fees 683 964
Loan/lease expense 228 214
Net cost of and gains/losses on operations of other real estate 13 298
Advertising and marketing 682 785
Bank service charges 504 483
Losses on debt extinguishment 147  
Correspondent banking expense 216 204
Intangibles amortization 549 532
Goodwill impairment 500  
Other 1,305 1,498
Total noninterest expense 31,415 32,435
Net income before income taxes 13,112 14,332
Federal and state income tax expense 1,884 1,414
Net income $ 11,228 $ 12,918
Basic earnings per common share (in dollars per share) $ 0.71 $ 0.82
Diluted earnings per common share (in dollars per share) $ 0.70 $ 0.81
Weighted average common shares outstanding (in shares) 15,796,796 15,693,345
Weighted average common and common equivalent shares outstanding (in shares) 16,011,456 15,922,940
Cash dividends declared per common share (in dollars per share) $ 0.06 $ 0.06
Trust department fees    
Noninterest income:    
Revenue $ 2,312 $ 2,493
Investment advisory and management fees    
Noninterest income:    
Revenue 1,727 1,736
Deposit service fees    
Noninterest income:    
Revenue 1,477 1,554
Debit card fees    
Noninterest income:    
Revenue 758 792
Correspondent banking fees    
Noninterest income:    
Revenue $ 215 $ 216