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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income:        
Loans secured by real estate $ 50,811 $ 47,828 $ 99,988 $ 97,403
C&I loans 4,134 2,156 7,570 3,812
Other loans 18 18 36 37
MBS 2,961 2,406 6,158 4,663
Investment securities 570 49 990 64
Other short-term investments 1,457 1,547 2,904 3,058
Total interest income 59,951 54,004 117,646 109,037
Interest expense:        
Deposits and escrow 16,271 11,988 31,288 22,739
Borrowed funds 7,176 5,882 14,530 12,149
Total interest expense 23,447 17,870 45,818 34,888
Net interest income 36,504 36,134 71,828 74,149
Provision (credit) for loan losses (449) 1,113 (128) 1,306
Net interest income after provision for loan losses 36,953 35,021 71,956 72,843
Non-interest income:        
Service charges and other fees 1,264 1,299 2,363 2,210
Net mortgage banking income 61 102 129 213
Net gain on sale of securities and other assets [1] 91 19 283 1,385
Gain on sale of loans 339 35 594 125
Income from BOLI 707 720 1,401 1,432
Loan level derivative income, net 291 0 291 0
Other 67 62 119 116
Total non-interest income 2,820 2,237 5,180 5,481
Non-interest expense:        
Salaries and employee benefits 12,061 10,884 23,945 22,061
Stock benefit plan compensation expense 491 407 775 795
Occupancy and equipment 3,827 3,697 7,696 7,569
Data processing costs 1,908 1,797 3,974 3,551
Marketing 465 146 931 1,193
Federal deposit insurance premiums 586 474 1,040 1,139
Other 2,958 3,422 5,987 6,253
Total non-interest expense 22,296 20,827 44,348 42,561
Income before income taxes 17,477 16,431 32,788 35,763
Income tax expense 4,442 4,110 8,252 8,697
Net income $ 13,035 $ 12,321 $ 24,536 $ 27,066
Earnings per Share:        
Basic (in dollars per share) $ 0.36 $ 0.33 $ 0.68 $ 0.72
Diluted (in dollars per share) $ 0.36 $ 0.33 $ 0.68 $ 0.72
[1] Amount includes periodic valuation gains or losses on marketable equity securities.