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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest and Dividend Income        
Interest and fees on loans and loans held for sale $ 17,454 $ 15,353 $ 32,813 $ 30,330
Interest on investment securities available for sale 1,389 1,690 3,011 3,322
Dividends on marketable equity securities 112 109 214 216
Dividends on Federal Home Loan Bank stock 18 19 38 38
Interest on deposits in other banks 31 135 267 278
Total Interest Income 19,004 17,306 36,343 34,184
Interest Expense        
Interest expense on deposits 1,331 1,174 2,815 2,112
Interest expense on securities sold under agreements to repurchase 0 18 0 40
Interest expense on securities sold under agreements to repurchase 122 62 193 119
Interest expense on junior subordinated debentures 94 95 188 187
Total Interest Expense 1,547 1,349 3,196 2,458
Net Interest Income 17,457 15,957 33,147 31,726
Provision for loan losses 404 300 2,464 1,050
Net Interest Income After Provision for Loan Losses 17,053 15,657 30,683 30,676
Other Operating Income        
Mortgage banking income 15,227 5,950 19,892 10,248
Purchased receivable income 675 837 1,596 1,646
Unrealized (loss) gain on marketable equity securities 149 118 (722) 652
Interest rate swap income 17 734 17 734
Gain on sale of marketable equity securities, net 0 0 98 0
Gain on sale of investment securities available for sale, net 0 0 0 23
Other income 615 773 1,230 1,579
Total Other Operating Income 17,535 9,569 23,968 17,102
Other Operating Expense        
Salaries and other personnel expense 15,637 12,945 27,893 24,247
Data processing expense 2,033 1,796 3,802 3,475
Occupancy expense 1,618 1,642 3,275 3,413
Professional and outside services 714 684 1,322 1,240
Marketing expense 696 833 1,279 1,252
Insurance expense 301 232 613 490
Intangible asset amortization expense 12 15 24 30
OREO (income), net rental income and gains on sale 21 165 (15) (155)
Other operating expense 1,642 1,507 3,268 2,907
Total Other Operating Expense 22,674 19,819 41,461 36,899
Income Before Provision for Income Taxes 11,914 5,407 13,190 10,879
Provision for income taxes 2,014 1,146 2,257 2,306
Net Income $ 9,900 $ 4,261 $ 10,933 $ 8,573
Earnings Per Share, Basic (in USD per share) $ 1.54 $ 0.62 $ 1.70 $ 1.25
Earnings Per Share, Diluted (in USD per share) $ 1.52 $ 0.62 $ 1.68 $ 1.24
Weighted Average Shares Outstanding, Basic (in shares) 6,367,397 6,798,352 6,417,514 6,838,986
Weighted Average Shares Outstanding, Diluted (in shares) 6,440,898 6,896,687 6,496,515 6,939,338
Bankcard fees        
Other Operating Income        
Bankcard fees and Service charges on deposit accounts $ 681 $ 744 $ 1,324 $ 1,394
Service charges on deposit accounts        
Other Operating Income        
Bankcard fees and Service charges on deposit accounts $ 171 $ 413 $ 533 $ 826