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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income:        
Loans, including fees $ 30,724 $ 29,652 $ 91,600 $ 86,342
Securities:        
Taxable 2,678 2,021 9,628 6,013
Non taxable 1,061 226 2,399 669
Federal funds sold and interest-bearing deposits in banks 40 1,766 620 5,154
Total interest income 34,503 33,665 104,247 98,178
Interest expense:        
Deposits 2,517 5,627 9,560 17,655
Notes payable & other borrowings 68 581 620 1,849
Subordinated debt securities 403 404 1,210 1,213
Junior subordinated deferrable interest debentures 242 485 937 1,510
Total interest expense 3,230 7,097 12,327 22,227
Net interest income 31,273 26,568 91,920 75,951
Provision for loan losses 6,062 420 25,429 1,903
Net interest income, after provision for loan losses 25,211 26,148 66,491 74,048
Noninterest income:        
Service charges on deposit accounts 1,749 2,101 5,171 5,985
Income from insurance activities 3,303 1,114 5,484 4,074
Net gain on sales of loans 20,942 6,626 47,279 17,521
Bank card services and interchange fees 2,608 2,192 7,190 6,273
Realized gain on sale of securities 0 0 2,318 0
Investment commissions 441 419 1,261 1,245
Fiduciary fees 781 361 2,386 1,104
Other 1,836 1,302 4,342 3,691
Total noninterest income 31,660 14,115 75,431 39,893
Noninterest expense:        
Salaries and employee benefits 23,672 18,135 66,103 56,044
Occupancy and equipment, net 3,710 3,486 10,896 10,309
Professional services 1,177 1,852 4,710 5,169
Marketing and development 615 762 2,189 2,275
IT and data services 843 722 2,769 2,104
Bank card expenses 1,095 864 3,164 2,394
Appraisal expenses 744 467 1,837 1,197
Other 4,137 3,740 13,543 10,502
Total noninterest expense 35,993 30,028 105,211 89,994
Income before income taxes 20,878 10,235 36,711 23,947
Income tax expense (benefit) 4,147 1,977 7,282 4,836
Net income $ 16,731 $ 8,258 $ 29,429 $ 19,111
Earnings per share:        
Basic (in dollars per share) $ 0.93 $ 0.46 $ 1.63 $ 1.16
Diluted (in dollars per share) $ 0.92 $ 0.45 $ 1.61 $ 1.15
Net income $ 16,731 $ 8,258 $ 29,429 $ 19,111
Other comprehensive income (loss):        
Change in net unrealized gain (loss) on securities available for sale (1,418) 116 26,584 7,433
Change in net gain (loss) on cash flow hedges 430 0 (1,728) 0
Reclassification adjustment for (gain) loss included in net income 0 0 (2,318) 0
Tax effect 207 (25) (4,733) (1,562)
Other comprehensive income (loss) (781) 91 17,805 5,871
Comprehensive income $ 15,950 $ 8,349 $ 47,234 $ 24,982