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CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
INTEREST AND DIVIDEND INCOME        
Loans, including fees $ 75,498 $ 74,728 $ 157,549 $ 148,120
Investment Securities:        
Taxable 3,791 3,647 8,074 7,437
Tax-exempt 959 834 1,762 1,679
Dividends 231 415 684 978
Total Interest and Dividend Income 80,479 79,624 168,069 158,214
INTEREST EXPENSE        
Deposits 9,227 16,055 24,565 31,036
Borrowings and junior subordinated debt securities 1,104 2,742 3,320 5,995
Total Interest Expense 10,331 18,797 27,885 37,031
NET INTEREST INCOME 70,148 60,827 140,184 121,183
Provision for credit losses 86,759 2,205 106,809 7,854
Net Interest (Loss) Income After Provision for Credit Losses (16,611) 58,622 33,375 113,329
NONINTEREST INCOME        
Net gain on sale of securities 142 0 142 0
Commercial loan swap income 945 1,102 3,429 1,683
Mortgage banking 2,623 637 3,859 1,131
Other 2,974 2,387 2,255 4,499
Total Noninterest Income 15,224 12,901 27,627 24,263
NONINTEREST EXPENSE        
Salaries and employee benefits 21,419 20,290 42,754 41,199
Data processing and information technology 3,585 3,414 7,453 6,646
Net occupancy 3,437 2,949 7,202 5,986
Furniture, equipment and software 3,006 2,301 5,525 4,531
Merger related expenses 0 618 2,342 618
Other taxes 1,604 1,456 3,205 2,641
Marketing 979 1,310 2,090 2,452
Professional services and legal 1,932 1,145 2,980 2,329
FDIC insurance 1,048 695 1,818 1,211
Other 6,468 6,174 14,501 11,658
Total Noninterest Expense 43,478 40,352 89,869 79,271
(Loss) Income Before Taxes (44,865) 31,171 (28,867) 58,321
Income tax (benefit) expense (11,793) 5,070 (9,026) 9,292
Net (Loss) Income $ (33,072) $ 26,101 $ (19,841) $ 49,029
(Loss) earnings per share—basic (in dollars per share) $ (0.85) $ 0.76 $ (0.51) $ 1.43
(Loss) earnings per share—diluted (in dollars per share) (0.85) 0.76 (0.51) 1.43
Dividends declared per share (in dollars per share) $ 0.28 $ 0.27 $ 0.56 $ 0.54
Comprehensive (Loss) Income $ (29,512) $ 33,513 $ 1,061 $ 62,617
Service charges on deposit accounts        
NONINTEREST INCOME        
Revenues from contract with customers 2,342 3,212 5,900 6,365
Debit and credit card        
NONINTEREST INCOME        
Revenues from contract with customers 3,612 3,501 7,093 6,476
Wealth management        
NONINTEREST INCOME        
Revenues from contract with customers $ 2,586 $ 2,062 $ 4,949 $ 4,109