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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest income:        
Loans $ 37,034 $ 38,185 $ 108,792 $ 119,195
Taxable investment securities 3,853 1,175 9,097 2,419
Tax-exempt investment securities 9,649 9,003 27,787 24,430
MBS 4,405 7,048 15,140 27,626
FHLB stock and equity investments 111 249 355 1,034
Other interest earning assets 24 17 56 220
Total interest income 55,076 55,677 161,227 174,924
Interest expense:        
Deposits 2,234 4,862 7,170 21,010
FHLB borrowings 1,865 2,369 5,590 9,272
Subordinated notes 2,417 1,427 7,235 4,250
Trust preferred subordinated debentures 345 378 1,045 1,469
Other borrowings 9 55 31 365
Total interest expense 6,870 9,091 21,071 36,366
Net interest income 48,206 46,586 140,156 138,558
Provision for credit losses (5,071) (4,746) (13,543) 25,746
Net interest income after provision for credit losses 53,277 51,332 153,699 112,812
Noninterest income:        
Deposit services 6,779 6,129 19,513 17,940
Net gain on sale of securities AFS 1,381 78 3,399 8,281
Gain on sale of loans 299 1,071 1,285 1,924
Trust fees 1,494 1,253 4,373 3,779
BOLI 637 680 1,908 1,899
Brokerage services 846 564 2,476 1,643
Other 1,333 1,366 4,371 3,366
Total noninterest income 12,769 11,141 37,325 38,832
Noninterest expense:        
Salaries and employee benefits 19,777 19,344 59,825 57,616
Net occupancy 3,532 3,595 10,698 10,574
Advertising, travel & entertainment 579 519 1,491 1,643
ATM expense 311 271 821 728
Professional fees 1,135 961 3,166 3,238
Software and data processing 1,503 1,215 4,221 3,737
Communications 552 495 1,689 1,494
FDIC insurance 454 469 1,343 668
Amortization of intangibles 695 881 2,191 2,792
Loss on redemption of subordinated notes 1,118 0 1,118 0
Other 2,107 3,866 7,133 9,502
Total noninterest expense 31,763 31,616 93,696 91,992
Income before income tax expense 34,283 30,857 97,328 59,652
Income tax expense 4,977 3,783 12,614 7,071
Net income $ 29,306 $ 27,074 $ 84,714 $ 52,581
Earnings per common share - basic (in dollars per share) $ 0.90 $ 0.82 $ 2.60 $ 1.58
Earnings per common share - diluted (in dollars per share) 0.90 0.82 2.59 1.58
Cash dividends paid per common share (in dollars per share) $ 0.33 $ 0.31 $ 0.98 $ 0.93