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Consolidated Statements of Operations - 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 $ 46,323 $ 47,989 $ 94,662 $ 92,992
Available-for-sale securities - taxable 1,358 2,335 3,132 4,655
Available-for-sale securities - tax-exempt 3,260 2,916 6,572 5,851
Deposits with financial institutions 45 676 536 1,482
Dividends on bank stocks 268 276 560 529
Total interest income 51,254 54,192 105,462 105,509
Interest Expense        
Deposits 8,405 17,497 22,677 33,418
Fed funds purchased and repurchase agreements 46 133 108 427
Federal Home Loan Bank Advances 1,620 1,651 3,231 3,110
Other borrowings 26 37 61 75
Total interest expense 10,097 19,318 26,077 37,030
Net Interest Income 41,157 34,874 79,385 68,479
Provision for loan losses 21,000 2,850 34,950 5,700
Net Interest Income after Provision for Loan Losses 20,157 32,024 44,435 62,779
Non-Interest Income        
Gain on sale of available-for-sale debt securities 320 406 713 433
Impairment of premises and equipment held for sale 0 (424) 0 (424)
Gain on sale of loans 0 79 0 158
Income from bank-owned life insurance 453 473 909 940
Swap fee income (loss), net (32) 159 (41) 536
Other non-interest income 350 309 612 469
Total non-interest income 2,634 1,672 4,729 3,317
Non-Interest Expense        
Salaries and employee benefits 14,004 14,450 28,394 29,040
Occupancy 2,045 2,062 4,130 4,221
Professional fees 1,295 714 1,966 1,496
Deposit insurance premiums 1,039 881 2,055 1,718
Data processing 721 625 1,413 1,219
Advertising 223 477 723 1,190
Software and communication 937 828 1,813 1,507
Foreclosed assets, net 1,135 19 1,154 25
Goodwill impairment 7,397 0 7,397 0
Other non-interest expense 2,214 1,904 4,188 4,175
Total non-interest expense 31,010 21,960 53,233 44,591
Net Income (Loss) Before Taxes (8,219) 11,736 (4,069) 21,505
Income tax expense (benefit) (863) 2,297 (570) 2,716
Net Income (Loss) $ (7,356) $ 9,439 $ (3,499) $ 18,789
Basic Earnings (Loss) Per Share (in dollars per share) $ (0.14) $ 0.21 $ (0.07) $ 0.41
Diluted Earnings (Loss) Per Share (in dollars per share) $ (0.14) $ 0.20 $ (0.07) $ 0.40
Service charges and fees on customer accounts        
Non-Interest Income        
Non-interest income $ 647 $ 211 $ 1,155 $ 369
ATM and credit card interchange income        
Non-Interest Income        
Non-interest income $ 896 $ 459 $ 1,381 $ 836