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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income:        
Loans, including fees $ 32,845 $ 27,251 $ 67,627 $ 54,058
Securities, taxable 3,155 4,136 7,103 8,645
Securities, exempt from Federal tax 484 546 995 1,094
Other investments, interest-bearing deposits in other financial institutions and Federal funds sold 648 1,556 2,349 3,141
Total interest income 37,132 33,489 78,074 66,938
Interest expense:        
Deposits 1,615 1,995 3,400 3,831
Subordinated debt 577 577 1,154 1,148
Short-term borrowings   1   1
Total interest expense 2,192 2,573 4,554 4,980
Net interest income before provision for credit losses on loans (1) 34,940 30,916 73,520 61,958
Provision for credit losses on loans 1,114 (740) 14,384 (1,801)
Net interest income after provision for credit losses on loans 33,826 31,656 59,136 63,759
Noninterest income:        
Non-interest income $ 650 $ 1,177 $ 1,619 $ 2,338
Revenue, Product and Service [Extensible List] Service Charges And Fees On Deposit Accounts [Member] Service Charges And Fees On Deposit Accounts [Member] Service Charges And Fees On Deposit Accounts [Member] Service Charges And Fees On Deposit Accounts [Member]
Increase in cash surrender value of life insurance $ 458 $ 333 $ 916 $ 663
Servicing income 205 150 388 341
Gain on sales of securities 170 548 270 548
Gain on sales of SBA loans   36 67 175
Other 595 521 1,220 1,168
Total noninterest income 2,078 2,765 5,271 5,233
Noninterest expense:        
Salaries and employee benefits 12,300 10,698 26,503 21,468
Occupancy and equipment 1,766 1,578 3,538 3,084
Professional fees 1,155 753 2,590 1,571
Other 5,791 5,416 14,155 10,240
Total noninterest expense 21,012 18,445 46,786 36,363
Income before income taxes 14,892 15,976 17,621 32,629
Income tax expense 4,274 4,623 5,142 9,130
Net income $ 10,618 $ 11,353 $ 12,479 $ 23,499
Earnings per common share:        
Basic (in dollars per share) $ 0.18 $ 0.26 $ 0.21 $ 0.54
Diluted (in dollars per share) $ 0.18 $ 0.26 $ 0.21 $ 0.54
Gain on the disposition of foreclosed assets        
Noninterest income:        
Non-interest income     $ 791