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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income:        
Loans $ 35,720 $ 39,115 $ 71,758 $ 81,010
Taxable investment securities 2,921 732 5,244 1,244
Tax-exempt investment securities 9,173 9,221 18,138 15,427
MBS 4,647 9,044 10,735 20,578
FHLB stock and equity investments 108 360 244 785
Other interest earning assets 17 23 32 203
Total interest income 52,586 58,495 106,151 119,247
Interest expense:        
Deposits 2,339 6,229 4,936 16,148
FHLB borrowings 1,817 2,929 3,725 6,903
Subordinated notes 2,423 1,412 4,818 2,823
Trust preferred subordinated debentures 349 491 700 1,091
Other borrowings 11 163 22 310
Total interest expense 6,939 11,224 14,201 27,275
Net interest income 45,647 47,271 91,950 91,972
Provision for credit losses 1,677 5,245 (8,472) 30,492
Net interest income after provision for credit losses 43,970 42,026 100,422 61,480
Noninterest income:        
Deposit services 6,609 5,532 12,734 11,811
Net gain on sale of securities AFS 15 2,662 2,018 8,203
Gain on sale of loans 393 683 986 853
Trust fees 1,496 1,221 2,879 2,526
BOLI 645 650 1,271 1,219
Brokerage services 850 499 1,630 1,079
Other 925 946 3,038 2,000
Total noninterest income 10,933 12,193 24,556 27,691
Noninterest expense:        
Salaries and employee benefits 20,004 18,629 40,048 38,272
Net occupancy 3,606 3,668 7,166 6,979
Advertising, travel & entertainment 475 292 912 1,124
ATM expense 272 233 510 457
Professional fees 1,040 1,082 2,031 2,277
Software and data processing 1,406 1,295 2,718 2,522
Communications 612 506 1,137 999
FDIC insurance 435 174 889 199
Amortization of intangibles 730 931 1,496 1,911
Other 2,119 3,046 5,026 5,636
Total noninterest expense 30,699 29,856 61,933 60,376
Income before income tax expense 24,204 24,363 63,045 28,795
Income tax expense 2,887 2,809 7,637 3,288
Net income $ 21,317 $ 21,554 $ 55,408 $ 25,507
Earnings per common share - basic (in dollars per share) $ 0.65 $ 0.65 $ 1.69 $ 0.76
Earnings per common share - diluted (in dollars per share) 0.65 0.65 1.69 0.76
Cash dividends paid per common share (in dollars per share) $ 0.33 $ 0.31 $ 0.65 $ 0.62