XML 26 R4.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Interest Income      
Loans $ 225,084 $ 130,853 $ 114,398
Investment securities:      
Taxable 3,509 4,883 4,738
Tax-exempt 7,960 3,300 3,396
Interest-bearing deposits 435 1,395 1,270
FHLB stock dividends 958 653 915
Total interest income 237,946 141,084 124,717
Interest Expense      
Deposits 26,918 22,613 13,897
Federal Home Loan Bank advances and other 1,691 1,443 1,261
Subordinated debentures 1,300 1,354 1,281
Securities sold under agreement to repurchase 32 25 23
Total interest expense 29,941 25,435 16,462
Net interest income 208,005 115,649 108,255
Credit loss expense - loans and leases [1] 43,154 2,905 1,176
Credit loss (benefit) expense - unfunded commitments [1] 1,096 (21) 82
Net interest income after provision for credit losses 163,755 112,765 106,997
Non-interest Income      
Service fees and other charges 21,369 14,028 13,100
Mortgage banking income 28,199 9,483 7,077
Insurance commissions 16,788 14,118 14,085
Gain on sale of non-mortgage loans 324 226 317
Gain on sale of securities available for sale 1,464 24 173
Gain on equity securities 90    
Wealth management income 6,159 3,127 2,911
Income from Bank Owned Life Insurance 3,306 2,158 1,767
Other non-interest income 2,985 1,792 (222)
Total non-interest income 80,684 44,956 39,208
Non-interest Expense      
Compensation and benefits 77,213 57,175 52,566
Occupancy 16,320 9,027 8,641
FDIC insurance premium 3,355 484 1,021
Financial institutions tax 4,173 2,194 2,118
Data processing 14,886 8,055 8,555
Acquisition related charges 19,485 1,422  
Amortization of intangibles 6,449 1,119 1,312
Other non-interest expense 23,289 17,608 15,117
Total non-interest expense 165,170 97,084 89,330
Income before income taxes 79,269 60,637 56,875
Federal income taxes 16,192 11,267 10,626
Net Income $ 63,077 $ 49,370 $ 46,249
Earnings per common share (Note 4)      
Basic $ 1.75 $ 2.49 $ 2.27
Diluted $ 1.75 $ 2.48 $ 2.26
[1]

Beginning January 1, 2020, calculation is based on current expected loss methodology.  Prior to January 1, 2020, calculation was based on incurred loss methodology.