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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        
Interest and Fees on Loans $ 38,080 $ 35,046 $ 75,938 $ 70,165
Interest on Federal Funds Sold and Other Short-term Investments 84 85 242 226
Interest and Dividends on Securities:        
Taxable 2,706 3,555 5,816 7,154
Non-taxable 2,671 2,350 5,116 4,680
TOTAL INTEREST INCOME 43,541 41,036 87,112 82,225
INTEREST EXPENSE        
Interest on Deposits 3,743 5,759 9,400 11,175
Interest on FHLB Advances and Other Borrowings 1,339 1,636 2,997 3,818
TOTAL INTEREST EXPENSE 5,082 7,395 12,397 14,993
NET INTEREST INCOME 38,459 33,641 74,715 67,232
Provision for Credit Losses 5,900 250 11,050 925
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 32,559 33,391 63,665 66,307
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) 8,092 8,679 18,591 17,895
Company Owned Life Insurance 356 304 1,578 1,188
Other Operating Income 882 461 1,309 1,332
Net Gains on Sales of Loans 2,654 1,030 4,517 2,011
Net Gains on Securities 993 516 1,583 671
TOTAL NON-INTEREST INCOME 12,423 10,509 26,504 22,167
NON-INTEREST EXPENSE        
Salaries and Employee Benefits 15,882 14,117 33,282 29,161
Occupancy Expense 2,473 2,279 5,043 4,570
Furniture and Equipment Expense 1,008 933 2,019 1,861
FDIC Premiums 123 245 123 533
Data Processing Fees 1,763 1,803 3,449 3,386
Professional Fees 1,082 1,174 2,166 2,501
Advertising and Promotion 882 936 1,953 1,806
Intangible Amortization 909 802 1,869 1,645
Other Operating Expenses 3,966 3,329 8,512 6,914
TOTAL NON-INTEREST EXPENSE 28,088 25,618 58,416 52,377
Income before Income Taxes 16,894 18,282 31,753 36,097
Income Tax Expense 2,639 3,011 5,026 5,759
NET INCOME $ 14,255 $ 15,271 $ 26,727 $ 30,338
Basic Earnings Per Share (USD per share) $ 0.54 $ 0.61 $ 1.01 $ 1.21
Diluted Earnings Per Share (USD per share) $ 0.54 $ 0.61 $ 1.01 $ 1.21
Trust and Investment Product Fees        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) $ 1,867 $ 1,913 $ 3,898 $ 3,480
Service Charges on Deposit Accounts        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) 1,365 2,024 3,602 3,924
Insurance Revenues        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) 1,830 1,929 5,059 5,134
Interchange Fee Income        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) $ 2,476 $ 2,332 $ 4,958 $ 4,427