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Consolidated Statements of Income - Unaudited - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income:        
Interest and fees on loans and leases $ 44,783 $ 41,689 $ 89,620 $ 82,378
Interest on cash and cash equivalents 73 64 205 117
Interest on investment securities:        
Taxable 3,494 2,922 6,944 5,628
Non-taxable 37 78 84 162
Dividends 1 1 3 3
Total interest income 48,388 44,754 96,856 88,288
Interest expense:        
Interest on deposits 9,655 4,499 17,752 7,971
Interest on short-term borrowings 357 985 1,300 1,615
Interest on FHLB advances and other borrowings 269 490 547 1,052
Interest on subordinated notes 1,144 1,143 2,289 2,286
Interest on junior subordinated debentures 352 321 710 609
Total interest expense 11,777 7,438 22,598 13,533
Net interest income 36,611 37,316 74,258 74,755
Provision for loan and lease losses 1,627 3,137 5,363 4,167
Net interest income after provision for loan and lease losses 34,984 34,179 68,895 70,588
Noninterest income:        
Fees for wealth management services 11,510 10,658 21,902 20,966
Insurance commissions 1,697 1,902 3,369 3,595
Capital markets revenue 1,489 2,105 3,708 2,771
Service charges on deposits 852 752 1,660 1,465
Loan servicing and other fees 553 475 1,162 1,161
Net gain on sale of loans 752 528 1,071 1,046
Net gain on sale of investment securities available for sale 0 0 0 7
Net gain (loss) on sale of other real estate owned (OREO) 0 111 (24) 287
Dividends on FHLB and FRB stock 316 510 727 941
Other operating income 3,052 3,034 5,899 7,372
Total noninterest income 20,221 20,075 39,474 39,611
Noninterest expenses:        
Salaries and wages 17,038 16,240 37,939 32,222
Employee benefits 3,317 2,877 7,483 6,585
Occupancy and bank premises 3,125 2,697 6,377 5,747
Furniture, fixtures, and equipment 2,568 2,069 4,957 3,967
Advertising 504 369 919 830
Amortization of intangible assets 956 889 1,894 1,768
Due diligence, merger-related and merger integration expenses 0 3,053 0 7,372
Professional fees 1,316 932 2,636 1,680
Pennsylvania bank shares tax 513 473 922 946
Data processing 1,303 1,252 2,623 2,447
Other operating expenses 4,548 4,985 9,162 8,302
Total noninterest expenses 35,188 35,836 74,912 71,866
Income before income taxes 20,017 18,418 33,457 38,333
Income tax expense 4,239 3,723 7,003 8,353
Net income 15,778 14,695 26,454 29,980
Net (loss) income attributable to noncontrolling interest (7) 7 (8) 6
Net income attributable to Bryn Mawr Bank Corporation $ 15,785 $ 14,688 $ 26,462 $ 29,974
Basic earnings per common share (in dollars per share) $ 0.78 $ 0.73 $ 1.31 $ 1.48
Diluted earnings per common share (in dollars per share) 0.78 0.72 1.31 1.47
Dividends paid or accrued per share (in dollars per share) $ 0.26 $ 0.22 $ 0.51 $ 0.44
Weighted-average basic shares outstanding (in shares) 20,144,651 20,238,852 20,156,509 20,221,010
Dilutive shares (in shares) 99,758 174,726 99,960 206,782
Denominator for diluted earnings per share – adjusted weighted average shares outstanding (in shares) 20,244,409 20,413,578 20,256,469 20,427,792