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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income:        
Loans $ 18,493 $ 18,026 $ 36,180 $ 35,130
Mortgage-related securities 670 764 1,372 1,523
Debt securities, federal funds sold and short-term investments 698 1,123 1,761 2,432
Total interest income 19,861 19,913 39,313 39,085
Interest expense:        
Deposits 3,947 4,344 8,265 8,334
Borrowings 2,665 2,588 5,273 4,834
Total interest expense 6,612 6,932 13,538 13,168
Net interest income 13,249 12,981 25,775 25,917
Provision for loan losses 4,500 30 5,285 (650)
Net interest income after provision for loan losses 8,749 12,951 20,490 26,567
Noninterest income:        
Service charges on loans and deposits 2,231 390 2,712 769
Increase in cash surrender value of life insurance 520 507 873 851
Mortgage banking income 63,774 34,105 94,180 57,464
Other 379 188 603 363
Total noninterest income 66,904 35,190 98,368 59,447
Noninterest expenses:        
Compensation, payroll taxes, and other employee benefits 36,889 27,074 61,290 47,713
Occupancy, office furniture and equipment 2,534 2,680 5,275 5,456
Advertising 864 963 1,764 1,921
Data processing 1,095 869 2,101 1,638
Communications 317 353 655 681
Professional fees 1,077 789 2,909 1,484
Real estate owned 33 19 44 51
Loan processing expense 1,208 879 2,284 1,684
Other 3,672 1,729 6,575 4,076
Total noninterest expenses 47,689 35,355 82,897 64,704
Income before income taxes 27,964 12,786 35,961 21,310
Income tax expense 7,016 3,143 8,944 5,125
Net income $ 20,948 $ 9,643 $ 27,017 $ 16,185
Income per share:        
Basic (in dollars per share) $ 0.86 $ 0.37 $ 1.08 $ 0.61
Diluted (in dollars per share) $ 0.85 $ 0.37 $ 1.08 $ 0.61
Weighted average shares outstanding:        
Basic (in shares) 24,464 26,242 24,934 26,370
Diluted (in shares) 24,513 26,412 25,071 26,572