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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income:        
Loans, including fees $ 29,360 $ 29,861 $ 58,640 $ 60,876
Securities:        
Taxable 2,413 3,170 4,873 6,950
Non taxable 1,157 942 2,327 1,338
Federal funds sold and interest-bearing deposits in banks 86 34 158 580
Total interest income 33,016 34,007 65,998 69,744
Interest expense:        
Deposits 2,186 2,760 4,343 7,043
Notes payable & other borrowings 4 102 43 552
Subordinated debt securities 1,012 403 2,031 807
Junior subordinated deferrable interest debentures 221 294 444 695
Total interest expense 3,423 3,559 6,861 9,097
Net interest income 29,593 30,448 59,137 60,647
Provision for loan losses (2,007) 13,133 (1,918) 19,367
Net interest income, after provision for loan losses 31,600 17,315 61,055 41,280
Noninterest income:        
Service charges on deposit accounts 1,599 1,439 3,172 3,422
Income from insurance activities 1,240 1,022 2,352 2,181
Net gain on sales of loans 12,317 17,797 28,260 26,337
Bank card services and interchange fees 3,073 2,344 5,715 4,582
Realized gain on sale of securities 0 0 0 2,318
Investment commissions 530 365 960 820
Fiduciary fees 842 776 1,678 1,605
Other 2,649 1,153 6,613 2,506
Total noninterest income 22,250 24,896 48,750 43,771
Noninterest expense:        
Salaries and employee benefits 23,377 21,621 47,695 42,431
Occupancy and equipment, net 3,499 3,586 7,064 7,186
Professional services 1,522 1,961 3,095 3,533
Marketing and development 812 806 1,380 1,574
IT and data services 907 1,079 1,961 1,926
Bank card expenses 1,252 1,017 2,301 2,069
Appraisal expenses 879 638 1,560 1,093
Other 4,530 4,499 8,779 9,406
Total noninterest expense 36,778 35,207 73,835 69,218
Income before income taxes 17,072 7,004 35,970 15,833
Income tax expense 3,422 1,389 7,160 3,135
Net income $ 13,650 $ 5,615 $ 28,810 $ 12,698
Earnings per share:        
Basic (in dollars per share) $ 0.76 $ 0.31 $ 1.60 $ 0.70
Diluted (in dollars per share) $ 0.74 $ 0.31 $ 1.55 $ 0.69
Net income $ 13,650 $ 5,615 $ 28,810 $ 12,698
Other comprehensive income (loss):        
Change in net unrealized gain (loss) on securities available for sale 10,620 6,813 (7,872) 28,002
Change in net gain (loss) on cash flow hedges (2,750) (931) 4,183 (2,158)
Reclassification adjustment for (gain) loss included in net income 0 0 0 (2,318)
Tax effect (1,653) (1,235) 775 (4,940)
Other comprehensive income (loss) 6,217 4,647 (2,914) 18,586
Comprehensive income $ 19,867 $ 10,262 $ 25,896 $ 31,284