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Consolidated Statements of Income - Unaudited - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income:        
Interest and fees on loans and leases $ 34,638 $ 40,690 $ 69,216 $ 83,485
Interest on cash and cash equivalents 16 37 38 148
Interest on investment securities:        
Taxable 2,984 2,870 6,022 6,046
Non-taxable 11 22 22 46
Dividends 1 2 2 3
Total interest income 37,650 43,621 75,300 89,728
Interest expense:        
Interest on deposits 958 4,476 2,382 12,113
Interest on short-term borrowings 5 232 15 685
Interest on FHLB advances and other borrowings 205 155 408 399
Interest on subordinated notes 1,044 1,144 2,078 2,289
Interest on junior subordinated debentures 199 229 397 524
Total interest expense 2,411 6,236 5,280 16,010
Net interest income 35,239 37,385 70,020 73,718
(Recovery of) provision for credit losses (6,581) 3,435 (11,827) 38,785
Net interest income after (recovery of) provision for credit losses 41,820 33,950 81,847 34,933
Noninterest income:        
Fees for wealth management services 14,031 9,069 26,867 20,237
Insurance commissions 1,249 1,303 2,713 2,836
Capital markets revenue 1,290 2,975 2,886 5,336
Service charges on deposits 733 603 1,429 1,449
Loan servicing and other fees 397 452 701 913
Net gain on sale of loans 525 3,134 775 3,916
Net gain (loss) on sale of OREO 0 0 0 148
Dividends on FHLB and FRB stock 239 243 461 687
Other operating income 2,502 2,787 4,975 3,344
Total noninterest income 20,966 20,566 40,807 38,866
Noninterest expenses:        
Salaries and wages 16,700 16,926 33,530 33,915
Employee benefits 3,224 3,221 6,911 6,721
Occupancy and bank premises 2,629 3,033 5,521 6,048
Furniture, fixtures, and equipment 2,188 2,120 4,430 4,551
Advertising 413 196 589 597
Amortization of intangible assets 835 910 1,673 1,828
Due diligence, merger-related and merger integration expenses 266 0 1,912 0
Professional fees 1,629 1,575 3,062 2,943
Pennsylvania bank shares tax 718 116 1,467 232
Data processing 1,444 1,479 2,848 2,873
Other operating expenses 5,421 5,927 11,227 9,198
Total noninterest expenses 35,467 35,503 73,170 68,906
Income before income taxes 27,319 19,013 49,484 4,893
Income tax expense 5,988 4,010 11,070 1,053
Net income 21,331 15,003 38,414 3,840
Net loss attributable to noncontrolling interest (11) (32) (11) (32)
Net income attributable to Bryn Mawr Bank Corporation $ 21,342 $ 15,035 $ 38,425 $ 3,872
Basic earnings per common share (in dollars per share) $ 1.07 $ 0.75 $ 1.93 $ 0.19
Diluted earnings per common share (in dollars per share) 1.06 0.75 1.92 0.19
Dividends paid or accrued per common share (in dollars per share) $ 0.27 $ 0.26 $ 0.54 $ 0.52
Weighted-average basic shares outstanding (in shares) 19,878,981 19,926,737 19,893,347 19,989,948
Dilutive shares (in shares) 171,838 81,482 153,809 87,211
Adjusted weighted-average diluted shares (in shares) 20,050,819 20,008,219 20,047,156 20,077,159