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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        
Interest and Fees on Loans $ 36,543 $ 40,921 $ 112,481 $ 111,086
Interest on Federal Funds Sold and Other Short-term Investments 45 163 287 389
Interest and Dividends on Securities:        
Taxable 2,350 3,400 8,166 10,554
Non-taxable 3,175 2,427 8,291 7,107
TOTAL INTEREST INCOME 42,113 46,911 129,225 129,136
INTEREST EXPENSE        
Interest on Deposits 2,492 6,399 11,892 17,574
Interest on FHLB Advances and Other Borrowings 1,233 1,934 4,230 5,752
TOTAL INTEREST EXPENSE 3,725 8,333 16,122 23,326
NET INTEREST INCOME 38,388 38,578 113,103 105,810
Provision for Credit Losses 4,500 2,800 15,550 3,725
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES 33,888 35,778 97,553 102,085
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) 9,167 9,291 27,758 27,186
Company Owned Life Insurance 355 364 1,933 1,552
Other Operating Income 942 1,029 2,251 2,361
Net Gains on Sales of Loans 2,861 1,649 7,378 3,660
Net Gains on Securities 607 313 2,190 984
TOTAL NON-INTEREST INCOME 13,279 12,056 39,783 34,223
NON-INTEREST EXPENSE        
Salaries and Employee Benefits 17,409 17,579 50,691 46,740
Occupancy Expense 2,418 2,797 7,461 7,367
Furniture and Equipment Expense 944 954 2,963 2,815
FDIC Premiums 326 0 449 533
Data Processing Fees 1,693 2,860 5,142 6,246
Professional Fees 875 1,324 3,041 3,825
Advertising and Promotion 708 1,054 2,661 2,860
Intangible Amortization 860 1,064 2,729 2,709
Other Operating Expenses 4,187 4,329 12,699 11,243
TOTAL NON-INTEREST EXPENSE 29,420 31,961 87,836 84,338
Income before Income Taxes 17,747 15,873 49,500 51,970
Income Tax Expense 3,154 2,809 8,180 8,568
NET INCOME $ 14,593 $ 13,064 $ 41,320 $ 43,402
Basic Earnings Per Share (USD per share) $ 0.55 $ 0.49 $ 1.56 $ 1.70
Diluted Earnings Per Share (USD per share) $ 0.55 $ 0.49 $ 1.56 $ 1.70
Trust and Investment Product Fees        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) $ 1,957 $ 1,885 $ 5,855 $ 5,365
Service Charges on Deposit Accounts        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) 1,773 2,395 5,375 6,319
Insurance Revenues        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) 1,989 1,883 7,048 7,017
Interchange Fee Income        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) $ 2,795 $ 2,538 $ 7,753 $ 6,965