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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
INTEREST INCOME        
Interest and fees on loans $ 51,964 $ 55,652 $ 107,261 $ 109,612
Interest on investment securities:        
Taxable interest income 4,771 4,993 10,245 9,730
Tax-exempt interest income 117 271 281 608
Other, principally overnight investments 788 2,106 1,886 4,807
Total interest income 57,640 63,022 119,673 124,757
INTEREST EXPENSE        
Savings, checking and money market accounts 1,333 2,335 3,692 4,344
Time deposits of $100,000 or more 2,323 3,522 5,247 6,700
Other time deposits 418 467 908 857
Borrowings 942 2,289 2,443 5,086
Total interest expense 5,016 8,613 12,290 16,987
Net interest income 52,624 54,409 107,383 107,770
Provision for loan losses 19,298 (308) 24,888 192
Net interest income after provision for loan losses 33,326 54,717 82,495 107,578
NONINTEREST INCOME        
Service charges on deposit accounts 2,289 3,210 5,626 6,155
Other service charges, commissions and fees 4,624 5,050 8,693 9,556
Fees from presold mortgage loans 3,020 857 4,861 1,402
Commissions from sales of insurance and financial products 2,090 2,204 4,158 4,233
SBA consulting fees 3,739 921 4,766 2,184
SBA loan sale gains 1,965 3,069 2,612 5,131
Bank-owned life insurance income 629 631 1,271 1,277
Securities gains (losses), net 8,024 0 8,024 0
Other gains (losses), net (187) (308) (113) (226)
Total noninterest income 26,193 15,634 39,898 29,712
NONINTEREST EXPENSES        
Salaries expense 20,606 19,732 40,716 38,697
Employee benefits expense 3,847 4,418 8,394 9,006
Total personnel expense 24,453 24,150 49,110 47,703
Occupancy expense 2,724 2,729 5,682 5,483
Equipment related expenses 1,020 1,183 2,165 2,552
Merger and acquisition expenses 0 103 0 213
Intangibles amortization expense 978 1,242 2,033 2,574
Foreclosed property losses, net 35 381 194 626
Other operating expenses 9,691 10,296 19,793 19,707
Total noninterest expenses 38,901 40,084 78,977 78,858
Income before income taxes 20,618 30,267 43,416 58,432
Income tax expense 4,266 6,408 8,884 12,288
Net income $ 16,352 $ 23,859 $ 34,532 $ 46,144
Earnings per common share:        
Basic (in dollars per share) $ 0.56 $ 0.80 $ 1.18 $ 1.55
Diluted (in dollars per share) 0.56 0.80 1.18 1.55
Dividends declared per common share (in dollars per share) $ 0.18 $ 0.12 $ 0.36 $ 0.24
Weighted average common shares outstanding:        
Basic (in shares) 28,799,828 29,626,931 29,015,308 29,607,074
Diluted (in shares) 28,969,728 29,796,941 29,184,421 29,808,859