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CONSOLIDATED STATEMENTS OF INCOME - (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Securities:        
Taxable $ 652 $ 857 $ 1,930 $ 2,773
Tax-exempt 613 588 1,894 1,728
Federal funds sold and other investments 250 404 817 1,034
Total interest income 20,245 17,983 60,458 53,082
Interest Expense        
Deposits 2,323 4,478 9,039 13,216
Borrowed funds 693 261 1,866 960
Subordinated notes 632 256 1,903 759
Total interest expense 3,648 4,995 12,808 14,935
Net interest income 16,597 12,988 47,650 38,147
Provision expense (benefit) for loan losses 4,270 (16) 10,334 835
Net interest income after provision for loan losses 12,327 13,004 37,316 37,312
Noninterest income        
Service charges on deposits 616 627 1,798 1,914
Net gain on sales of securities 434 151 1,862 151
Mortgage banking activities 7,108 2,352 15,380 5,788
Other charges and fees 967 728 2,564 1,768
Total noninterest income 9,125 3,858 21,604 9,621
Noninterest expense        
Salary and employee benefits 9,862 7,536 28,090 21,642
Occupancy and equipment expense 1,678 1,203 4,773 3,575
Professional service fees 808 465 2,141 1,212
Acquisition and due diligence fees 17 319 1,664 319
Marketing expense 257 379 709 843
Printing and supplies expense 89 78 398 250
Data processing expense 844 661 2,601 1,862
Core deposit premium amortization 192 29 576 117
Other expense 1,379 869 3,819 3,254
Noninterest expense 15,126 11,539 44,771 33,074
Income before income taxes 6,326 5,323 14,149 13,859
Income tax provision 1,117 914 2,109 2,428
Net income $ 5,209 $ 4,409 $ 12,040 $ 11,431
Per common share data:        
Basic earnings per common share (in dollars per share) $ 0.68 $ 0.57 $ 1.56 $ 1.48
Diluted earnings per common share (in dollars per share) 0.67 0.56 1.55 1.46
Cash dividends declared per common share (in dollars per share) $ 0.05 $ 0.04 $ 0.15 $ 0.12
Weighted average common shares outstanding—basic (in shares) 7,675 7,721 7,640 7,738
Weighted average common shares outstanding - diluted (in shares) 7,712 7,752 7,701 7,776
Originated        
Interest income        
Loans, including fees $ 15,274 $ 14,633 $ 44,630 $ 42,652
Acquired        
Interest income        
Loans, including fees $ 3,456 $ 1,501 $ 11,187 $ 4,895