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Consolidated Statements of 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 $ 43,929 $ 49,327 $ 138,591 $ 142,319
Available-for-sale securities - taxable 1,042 1,991 4,174 6,646
Available-for-sale securities - tax-exempt 3,186 2,969 9,758 8,820
Deposits with financial institutions 47 970 583 2,452
Dividends on bank stocks 248 272 808 801
Total interest income 48,452 55,529 153,914 161,038
Interest Expense        
Deposits 7,298 18,003 29,975 51,421
Fed funds purchased and repurchase agreements 54 74 162 501
Federal Home Loan Bank Advances 1,749 1,629 4,980 4,739
Other borrowings 24 37 85 112
Total interest expense 9,125 19,743 35,202 56,773
Net Interest Income 39,327 35,786 118,712 104,265
Provision for loan losses 10,875 4,850 45,825 10,550
Net Interest Income after Provision for Loan Losses 28,452 30,936 72,887 93,715
Non-Interest Income        
Gain on sale of available-for-sale debt securities 1,012 34 1,725 467
Impairment of premises and equipment held for sale 0 0 0 (424)
Gain on sale of loans 0 49 0 207
Income from bank-owned life insurance 464 476 1,373 1,416
Swap fee income, net 121 1,879 80 2,415
Other non-interest income 192 226 804 695
Total non-interest income 4,063 3,212 8,792 6,529
Non-Interest Expense        
Salaries and employee benefits 14,628 14,256 43,022 43,296
Occupancy 2,144 2,080 6,274 6,301
Professional fees 1,132 427 3,098 1,923
Deposit insurance premiums 1,096 302 3,151 2,020
Data processing 652 649 2,065 1,868
Advertising 147 580 870 1,770
Software and communication 959 900 2,772 2,407
Foreclosed assets, net 20 8 1,174 33
Goodwill impairment 0 0 7,397 0
Other non-interest expense 2,233 1,970 6,421 6,145
Total non-interest expense 23,011 21,172 76,244 65,763
Net Income Before Taxes 9,504 12,976 5,435 34,481
Income tax expense 1,498 2,592 928 5,308
Net Income $ 8,006 $ 10,384 $ 4,507 $ 29,173
Basic Earnings Per Share (in dollars per share) $ 0.15 $ 0.22 $ 0.09 $ 0.63
Diluted Earnings Per Share (in dollars per share) $ 0.15 $ 0.21 $ 0.09 $ 0.61
Service charges and fees on customer accounts        
Non-Interest Income        
Non-interest income $ 792 $ 72 $ 1,947 $ 441
ATM and credit card interchange income        
Non-Interest Income        
Non-interest income $ 1,482 $ 476 $ 2,863 $ 1,312