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Unaudited Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest and dividend income:        
Loans and leases $ 74,332 $ 76,240 $ 224,367 $ 233,215
Debt securities 2,967 3,746 9,206 10,423
Marketable and restricted equity securities 313 672 847 2,358
Short-term investments 83 46 164 354
Total interest and dividend income 77,695 80,704 234,584 246,350
Interest expense:        
Deposits 4,571 10,583 16,658 39,601
Borrowed funds 2,427 4,183 7,014 14,811
Total interest expense 6,998 14,766 23,672 54,412
Net interest income 70,697 65,938 210,912 191,938
(Credit) provision for credit losses (3,110) 4,528 (8,588) 63,989
Net interest income after provision for credit losses 73,807 61,410 219,500 127,949
Non-interest income:        
Loan level derivative income, net 218 527 699 4,123
Gain (loss) on investment securities, net 0 54 (6) 1,970
Gain on sales of loans and leases held-for-sale 557 632 1,804 1,051
Other 1,695 947 4,221 5,129
Total non-interest income 5,586 4,862 16,290 20,425
Non-interest expense:        
Compensation and employee benefits 27,206 26,092 78,188 75,931
Occupancy 3,567 3,802 11,403 11,580
Equipment and data processing 4,556 4,293 13,746 13,152
Professional services 1,072 1,112 3,543 3,819
FDIC insurance 662 1,363 2,363 2,599
Advertising and marketing 1,077 1,024 3,287 3,116
Amortization of identified intangible assets 208 312 668 959
Other 2,574 2,949 6,501 9,650
Total non-interest expense 40,922 40,947 119,699 120,806
Income before provision for income taxes 38,471 25,325 116,091 27,568
Provision (benefit) for income taxes 9,632 6,646 29,196 6,596
Net income $ 28,839 $ 18,679 $ 86,895 $ 20,972
Earnings per common share:        
Basic (in dollars per share) $ 0.37 $ 0.24 $ 1.11 $ 0.27
Diluted (in dollars per share) $ 0.37 $ 0.24 $ 1.11 $ 0.27
Weighted average common shares outstanding during the year:        
Basic (in shares) 78,000,261 78,948,139 78,097,600 79,092,424
Diluted (in shares) 78,240,633 79,055,901 78,371,190 79,245,113
Dividends paid per common share (in dollars per share) $ 0.120 $ 0.115 $ 0.355 $ 0.345
Deposit fees        
Non-interest income:        
Non-interest income, fees $ 2,629 $ 2,305 $ 7,925 $ 6,692
Loan fees        
Non-interest income:        
Non-interest income, fees $ 487 $ 397 $ 1,647 $ 1,460