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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income:        
Loans receivable $ 65,235 $ 51,709 $ 129,253 $ 103,969
Debt securities available for sale and equity securities 7,292 7,900 14,620 15,559
Debt securities held to maturity 1,993 2,115 4,058 4,022
Federal funds and interest earning deposits 27 134 216 223
Federal Home Loan Bank stock dividends 1,040 874 2,130 1,846
Total interest income 75,587 62,732 150,277 125,619
Interest expense:        
Deposits 14,911 15,250 31,743 28,929
Borrowings 4,805 6,639 11,961 13,463
Total interest expense 19,716 21,889 43,704 42,392
Net interest income 55,871 40,843 106,573 83,227
Provision for loan losses 5,736 112 15,304 548
Net interest income after provision for loan losses 50,135 40,731 91,269 82,679
Non-interest income:        
Bank-owned life insurance 1,519 1,345 2,936 2,665
Loan fees and service charges 533 1,500 1,261 2,320
Gain on securities transactions 0 339 370 465
Change in fair value of equity securities 643 71 59 247
Gain on sale of loans 795 196 1,549 328
Other non-interest income 1,902 1,174 3,078 2,637
Total non-interest income 7,008 6,775 13,399 12,812
Non-interest expense:        
Compensation and employee benefits 25,218 20,343 49,683 39,923
Occupancy 4,701 3,824 9,496 7,655
Federal deposit insurance premiums 626 462 736 887
Advertising 447 1,390 1,591 2,778
Professional fees 1,083 1,431 2,449 2,678
Data processing 816 669 1,581 1,307
Merger-related expenses 432 462 1,507 462
Other non-interest expense 4,120 3,260 8,908 5,710
Total non-interest expense 37,443 31,841 75,951 61,400
Income before income tax expense 19,700 15,665 28,717 34,091
Income tax expense 4,603 3,634 6,855 7,141
Net income $ 15,097 $ 12,031 $ 21,862 $ 26,950
Earnings per share - basic and diluted (in dollars per share) $ 0.14 $ 0.11 $ 0.20 $ 0.24
Weighted average shares outstanding - basic and diluted (in shares) 111,102,306 111,553,203 109,770,239 111,544,339
Demand deposit account fees        
Non-interest income:        
Revenue from contract with customer $ 620 $ 1,051 $ 1,919 $ 2,010
Title insurance fees        
Non-interest income:        
Revenue from contract with customer $ 996 $ 1,099 $ 2,227 $ 2,140