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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest and dividend income:    
Loans/leases, including fees $ 41,333 $ 43,159
Securities:    
Taxable 2,042 1,727
Nontaxable 3,934 3,459
Interest-bearing deposits at financial institutions 37 361
Restricted investment securities 219 258
Federal funds sold   18
Total interest and dividend income 47,565 48,982
Interest expense:    
Deposits 3,427 9,206
Short-term borrowings 1 64
Federal Home Loan Bank advances 9 449
Subordinated notes 1,594 994
Junior subordinated debentures 559 571
Total interest expense 5,590 11,284
Net interest income 41,975 37,698
Provision for credit losses 6,713 8,367
Net interest income after provision for loan/lease losses 35,262 29,331
Noninterest income:    
Revenue 71,054 64,178
Gains on sales of residential real estate loans, net 1,337 652
Swap fee income 13,557 6,804
Earnings on bank-owned life insurance 471 329
Other 1,686 922
Total noninterest income 23,489 15,196
Noninterest expense:    
Salaries and employee benefits 24,847 18,519
Occupancy and equipment expense 4,108 4,032
Professional and data processing fees 3,443 3,369
Post-acquisition compensation, transition and integration costs   151
Disposition costs 8 517
FDIC insurance, other insurance and regulatory fees 1,065 683
Loan/lease expense 300 228
Net cost of (income from) and gains/losses on operations of other real estate 39 13
Advertising and marketing 627 682
Bank service charges 523 504
Losses on liability extinguishment   147
Correspondent banking expense 200 216
Intangibles amortization 508 549
Goodwill impairment   500
Other 1,560 1,305
Total noninterest expense 37,228 31,415
Net income before income taxes 21,523 13,112
Federal and state income tax expense 3,541 1,884
Net income $ 17,982 $ 11,228
Basic earnings per common share (in dollars per share) $ 1.14 $ 0.71
Diluted earnings per common share (in dollars per share) $ 1.12 $ 0.70
Weighted average common shares outstanding (in shares) 15,803,643 15,796,796
Weighted average common and common equivalent shares outstanding (in shares) 16,025,548 16,011,456
Cash dividends declared per common share (in dollars per share) $ 0.06 $ 0.06
Trust department fees    
Noninterest income:    
Revenue $ 2,801 $ 2,312
Investment advisory and management fees    
Noninterest income:    
Revenue 940 1,727
Deposit service fees    
Noninterest income:    
Revenue 1,408 1,477
Debit card fees    
Noninterest income:    
Revenue 975 758
Correspondent banking fees    
Noninterest income:    
Revenue $ 314 $ 215