XML 224 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income:        
Interest and fees on loans and leases $ 40,748 $ 35,580 $ 115,196 $ 104,651
Interest and dividends on taxable investment securities 3,755 2,786 9,497 12,310
Interest on tax-exempt investment securities 882 614 2,358 1,903
Other interest income 82 33 175 317
Total interest income 45,467 39,013 127,226 119,181
Interest expense:        
Interest on deposits 2,399 2,669 7,793 10,582
Interest on short-term borrowings 91 742 283 2,355
Interest on long-term borrowings 399 483 1,334 1,629
Total interest expense 2,889 3,894 9,410 14,566
Net interest income 42,578 35,119 117,816 104,615
Provision for credit losses 8,994 4,728 7,333 33,531
Net interest income after provision for credit losses 33,584 30,391 110,483 71,084
Non-interest income:        
Insurance income 3,367 3,608 11,923 10,929
Mortgage banking income 766 2,658 2,726 4,346
Bank owned life insurance income 437 462 1,329 1,514
Net (loss) gain on investment securities (166) 2 (704) 383
Net loss on asset disposals and other transactions (308) (28) (459) (237)
Other non-interest income 1,144 534 2,605 1,393
Total non-interest income 16,346 16,770 49,070 47,171
Non-interest expense:        
Salaries and employee benefit costs 25,589 19,410 68,276 57,313
Professional fees 6,426 1,720 13,459 5,247
Net occupancy and equipment expense 3,551 3,383 10,167 9,688
Data processing and software expense 2,529 1,838 7,394 5,344
Electronic banking expense 2,037 2,095 6,006 5,839
Marketing expense 1,223 456 2,810 1,561
Franchise tax expense 810 882 2,487 2,645
Amortization of other intangible assets 1,279 857 3,267 2,314
FDIC insurance premium 807 570 1,596 717
Other loan expenses 487 342 1,443 1,255
Communication expense 411 283 1,079 857
Other non-interest expense 12,711 2,479 17,762 7,665
Total non-interest expense 57,860 34,315 135,746 100,445
(Loss) income before income taxes (7,930) 12,846 23,807 17,810
Income tax (benefit) expense (2,172) 2,636 3,999 3,616
Net (loss) income $ (5,758) $ 10,210 $ 19,808 $ 14,194
(Loss) earnings per common share - basic $ (0.28) $ 0.52 $ 0.99 $ 0.70
(Loss) earnings per common share - diluted $ (0.28) $ 0.51 $ 0.99 $ 0.70
Weighted-average number of common shares outstanding - basic 20,640,519 19,504,503 19,751,853 19,862,409
Weighted-average number of common shares outstanding - diluted 20,789,271 19,637,689 19,890,672 19,998,353
Cash dividends declared $ 7,093 $ 6,770 $ 20,991 $ 20,622
Cash dividends declared per common share $ 0.36 $ 0.34 $ 1.07 $ 1.02
Credit and Debit Card [Member]        
Non-interest income:        
Revenue from Contract with Customer, Including Assessed Tax $ 4,326 $ 3,765 $ 12,655 $ 10,568
Deposit Account [Member]        
Non-interest income:        
Revenue from Contract with Customer, Including Assessed Tax 2,549 2,266 6,578 6,995
Fiduciary and Trust [Member]        
Non-interest income:        
Revenue from Contract with Customer, Including Assessed Tax 4,158 3,435 12,223 10,013
Interest Rate Swap [Member] | Transaction fee [Member]        
Non-interest income:        
Revenue from Contract with Customer, Including Assessed Tax $ 73 $ 68 $ 194 $ 1,267