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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income:        
Loans receivable $ 63,258 $ 53,594 $ 192,511 $ 157,563
Debt securities available for sale and equity securities 7,034 7,736 21,654 23,295
Debt securities held to maturity 1,749 2,068 5,807 6,090
Federal funds and interest earning deposits 71 182 287 405
Federal Home Loan Bank stock dividends 821 858 2,951 2,704
Total interest income 72,933 64,438 223,210 190,057
Interest expense:        
Deposits 12,826 16,055 44,569 44,984
Borrowings 3,783 6,667 15,744 20,130
Total interest expense 16,609 22,722 60,313 65,114
Net interest income 56,324 41,716 162,897 124,943
Provision for loan losses 2,516 1,157 17,820 1,705
Net interest income after provision for loan losses 53,808 40,559 145,077 123,238
Non-interest income:        
Bank-owned life insurance 1,531 1,784 4,467 4,449
Loan fees and service charges 565 3,038 1,826 5,358
Gain on securities transactions 0 1,256 370 1,721
Change in fair value of equity securities (4) (59) 55 189
Gain on sale of loans 1,873 382 3,422 710
Other non-interest income 1,939 1,258 5,017 3,895
Total non-interest income 7,909 10,115 21,308 22,928
Non-interest expense:        
Compensation and employee benefits 26,666 21,362 76,349 61,285
Occupancy 4,823 3,973 14,319 11,628
Federal deposit insurance premiums 614 40 1,350 927
Advertising 484 533 2,075 3,311
Professional fees 1,680 1,541 4,129 4,219
Data processing 839 658 2,420 1,965
Merger-related expenses 424 740 1,931 1,202
Other non-interest expense 5,848 2,217 14,756 7,927
Total non-interest expense 41,378 31,064 117,329 92,464
Income before income tax expense 20,339 19,610 49,056 53,702
Income tax expense 5,252 5,392 12,107 12,534
Net income $ 15,087 $ 14,218 $ 36,949 $ 41,168
Earnings per share - basic and diluted (in dollars per share) $ 0.14 $ 0.13 $ 0.34 $ 0.37
Weighted average shares outstanding - basic and diluted (in shares) 110,983,871 111,371,754 110,177,736 111,486,179
Demand deposit account fees        
Non-interest income:        
Revenue from contract with customer $ 787 $ 1,106 $ 2,706 $ 3,116
Title insurance fees        
Non-interest income:        
Revenue from contract with customer $ 1,218 $ 1,350 $ 3,445 $ 3,490