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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income:        
Loans, including fees $ 30,332 $ 30,395 $ 60,225 $ 59,968
Investment securities:        
Taxable 883 792 1,767 1,550
Nontaxable 971 955 2,008 1,980
Federal funds sold 60 1,094 698 1,585
Total interest income 32,246 33,236 64,698 65,083
Interest expense:        
Deposits 5,285 7,257 11,777 13,756
FHLB borrowings 1,360 1,591 2,730 3,166
Total interest expense 6,645 8,848 14,507 16,922
Net interest income 25,601 24,388 50,191 48,161
Provision for loan losses 8 (540) 4,657 (1,786)
Net interest income after provision for loan losses 25,593 24,928 45,534 49,947
Noninterest income:        
Net gain on sale of loans 1,898 577 2,556 863
Other noninterest income (15) 250 385 687
Gain (loss) on sale of investment securities 0 (52) 10 (52)
Noninterest income 6,531 5,851 12,698 11,101
Noninterest expenses:        
Salaries and employee benefits 10,126 9,330 19,710 18,052
Occupancy 1,029 1,102 2,181 2,288
Furniture and equipment 1,969 1,664 3,750 3,337
Office supplies and postage 405 442 908 901
Advertising and business development 380 555 1,139 1,193
Outside services 2,517 2,523 5,202 5,095
FDIC insurance assessment 214 195 394 404
Other noninterest expense 232 549 815 1,139
Noninterest expenses 16,872 16,360 34,099 32,409
Income before income taxes 15,252 14,419 24,133 28,639
Income taxes 3,541 3,199 5,347 6,216
Net income $ 11,711 $ 11,220 $ 18,786 $ 22,423
Earnings per share:        
Basic (in dollars per share) $ 1.25 $ 1.20 $ 2.00 $ 2.40
Diluted (in dollars per share) $ 1.25 $ 1.20 $ 2.00 $ 2.40
Trust fees        
Noninterest income:        
Fee income $ 2,386 $ 2,428 $ 4,956 $ 4,680
Service charges and fees        
Noninterest income:        
Fee income $ 2,262 $ 2,648 $ 4,791 $ 4,923