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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - 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 $ 29,861 $ 28,592 $ 60,876 $ 56,690
Securities:        
Taxable 3,170 1,816 6,950 3,992
Non taxable 942 218 1,338 443
Federal funds sold and interest-bearing deposits in banks 34 1,883 580 3,388
Total interest income 34,007 32,509 69,744 64,513
Interest expense:        
Deposits 2,760 6,139 7,043 12,028
Notes payable & other borrowings 102 618 552 1,268
Subordinated debt securities 403 403 807 809
Junior subordinated deferrable interest debentures 294 512 695 1,025
Total interest expense 3,559 7,672 9,097 15,130
Net interest income 30,448 24,837 60,647 49,383
Provision for loan losses 13,133 875 19,367 1,483
Net interest income, after provision for loan losses 17,315 23,962 41,280 47,900
Noninterest income:        
Service charges on deposit accounts 1,439 1,979 3,422 3,884
Income from insurance activities 1,022 1,210 2,181 2,960
Net gain on sales of loans 17,797 6,235 26,337 10,895
Bank card services and interchange fees 2,344 2,071 4,582 4,081
Realized gain on sale of securities 0 0 2,318 0
Investment commissions 365 493 820 826
Fiduciary fees 776 367 1,605 743
Other 1,153 1,348 2,506 2,389
Total noninterest income 24,896 13,703 43,771 25,778
Noninterest expense:        
Salaries and employee benefits 21,621 18,784 42,431 37,909
Occupancy and equipment, net 3,586 3,416 7,186 6,823
Professional services 1,961 1,611 3,533 3,317
Marketing and development 806 796 1,574 1,513
IT and data services 1,079 689 1,926 1,382
Bank card expenses 1,017 806 2,069 1,530
Appraisal expenses 638 407 1,093 730
Other 4,499 3,421 9,406 6,762
Total noninterest expense 35,207 29,930 69,218 59,966
Income before income taxes 7,004 7,735 15,833 13,712
Income tax expense (benefit) 1,389 1,655 3,135 2,859
Net income $ 5,615 $ 6,080 $ 12,698 $ 10,853
Earnings per share:        
Basic (in dollars per share) $ 0.31 $ 0.37 $ 0.70 $ 0.69
Diluted (in dollars per share) $ 0.31 $ 0.37 $ 0.69 $ 0.69
Net income $ 5,615 $ 6,080 $ 12,698 $ 10,853
Other comprehensive income (loss):        
Change in net unrealized loss on securities available for sale 6,813 4,410 28,002 7,317
Change in net losses on cash flow hedges (931) 0 (2,158) 0
Reclassification adjustment for (gain) loss included in net income 0 0 (2,318) 0
Tax effect (1,235) (926) (4,940) (1,537)
Other comprehensive income (loss) 4,647 3,484 18,586 5,780
Comprehensive income $ 10,262 $ 9,564 $ 31,284 $ 16,633