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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
INTEREST INCOME      
Interest and fees on loans $ 72,999 $ 74,854 $ 62,468
Interest on deposits with banks 437 489 403
Interest on investment securities 2,448 3,055 3,580
Interest on tax-exempt loans and securities 4,569 3,963 3,309
Total interest income 80,453 82,361 69,760
INTEREST EXPENSE      
Interest on deposits 10,294 17,439 11,635
Interest on short-term borrowings 1,072 4,752 4,315
Interest on subordinated debt 261 770 1,756
Total interest expense 11,627 22,961 17,706
NET INTEREST INCOME 68,826 59,400 52,054
Provision for loan losses 16,579 1,789 2,440
Net interest income after provision for loan losses 52,247 57,611 49,614
NONINTEREST INCOME      
Mortgage fee income 33,427 41,045 32,337
Payment card and service charge income 2,821 1,980 1,680
Insurance and investment services income 872 727 716
Gain (loss) on sale of available-for-sale securities, net 914 (166) 327
Gain (loss) on sale of equity securities, net 3,501 (7) 0
Gain (loss) on derivatives, net 2,341 1,253 (278)
Holding gain on equity securities 374 13,767 590
Compliance consulting income 4,436 921 0
Equity method investment income 24,174 0 0
Gains on acquisition and divestiture activity 17,640 0 0
Other operating income 1,337 5,084 3,268
Total noninterest income 91,837 64,604 38,640
NONINTEREST EXPENSES      
Salaries and employee benefits 61,629 56,175 46,224
Occupancy expense 4,599 4,816 4,234
Equipment depreciation and maintenance 3,672 3,640 3,239
Data processing and communications 5,375 4,025 3,741
Mortgage processing 1,744 3,041 3,551
Marketing, contributions and sponsorships 1,096 1,290 1,141
Professional fees 8,453 4,999 3,559
Insurance, tax and assessment expense 2,090 1,663 1,846
Travel, entertainment, dues and subscriptions 3,390 4,151 2,808
Other operating expenses 5,093 3,401 2,535
Total noninterest expense 97,141 87,201 72,878
Income from continuing operations, before income taxes 46,943 35,014 15,376
Income tax expense - continuing operations 9,532 8,450 3,373
Net income from continuing operations 37,411 26,564 12,003
Income from discontinued operations, before income taxes 0 575 0
Income tax expense - discontinued operations 0 148 0
Net income from discontinued operations 0 427 0
Net income 37,411 26,991 12,003
Preferred dividends 461 479 489
Net income available to common shareholders $ 36,950 $ 26,512 $ 11,514
Earnings per share from continuing operations - basic (in dollars per share) $ 3.13 $ 2.22 $ 1.04
Earnings per share from discontinued operations - basic (in dollars per share) 0 0.04 0
Earnings per common shareholder - basic (in dollars per share) 3.13 2.26 1.04
Earnings per share from continuing operations - diluted (in dollars per share) 3.06 2.16 1.00
Earnings per share from discontinued operations - diluted (in dollars per share) 0 0.04 0
Earnings per common shareholder - diluted (in dollars per share) $ 3.06 $ 2.20 $ 1.00
Weighted average shares outstanding - basic (in shares) 11,821,574 11,713,885 11,030,984
Weighted average shares outstanding - diluted (in shares) 12,088,106 12,044,667 12,722,003