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Unaudited Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest and dividend income:        
Loans and leases $ 75,026 $ 77,416 $ 150,035 $ 156,975
Debt securities 3,121 3,701 6,239 6,677
Marketable and restricted equity securities 233 908 534 1,686
Short-term investments 42 99 81 308
Total interest and dividend income 78,422 82,124 156,889 165,646
Interest expense:        
Deposits 5,380 12,778 12,087 29,018
Borrowed funds 1,936 5,058 4,587 10,628
Total interest expense 7,316 17,836 16,674 39,646
Net interest income 71,106 64,288 140,215 126,000
(Credit) provision for credit losses (3,331) 5,347 (5,478) 59,461
Net interest income after provision for credit losses 74,437 58,941 145,693 66,539
Non-interest income:        
Loan level derivative income, net 7 1,440 481 3,596
Gain (loss) on investment securities, net 1 586 (6) 1,916
Gain on sales of loans and leases held-for-sale 538 299 1,247 419
Other 1,742 1,468 2,526 4,182
Total non-interest income 5,910 6,235 10,704 15,563
Non-interest expense:        
Compensation and employee benefits 25,161 24,619 50,982 49,838
Occupancy 3,832 3,825 7,836 7,778
Equipment and data processing 4,697 4,155 9,190 8,858
Professional services 1,245 1,056 2,471 2,707
FDIC insurance 657 858 1,701 1,236
Advertising and marketing 1,110 1,017 2,210 2,092
Amortization of identified intangible assets 228 311 460 647
Other 1,036 3,268 3,927 6,701
Total non-interest expense 37,966 39,109 78,777 79,857
Income before provision for income taxes 42,381 26,067 77,620 2,245
Provision (benefit) for income taxes 10,779 6,496 19,564 (50)
Net income $ 31,602 $ 19,571 $ 58,056 $ 2,295
Earnings per common share:        
Basic (in dollars per share) $ 0.40 $ 0.25 $ 0.74 $ 0.03
Diluted (in dollars per share) $ 0.40 $ 0.25 $ 0.74 $ 0.03
Weighted average common shares outstanding during the year:        
Basic (in shares) 78,150,364 78,849,282 78,147,076 79,165,372
Diluted (in shares) 78,470,451 79,015,274 78,437,275 79,340,524
Dividends paid per common share (in dollars per share) $ 0.120 $ 0.115 $ 0.235 $ 0.230
Deposit fees        
Non-interest income:        
Non-interest income, fees $ 3,015 $ 1,929 $ 5,296 $ 4,387
Loan fees        
Non-interest income:        
Non-interest income, fees $ 607 $ 513 $ 1,160 $ 1,063