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Consolidated Statements of Income - 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 $ 52,295 $ 51,964 $ 103,368 $ 107,261
Interest on investment securities:        
Taxable interest income 7,789 4,771 13,702 10,245
Tax-exempt interest income 474 117 797 281
Other, principally overnight investments 581 788 1,281 1,886
Total interest income 61,139 57,640 119,148 119,673
INTEREST EXPENSE        
Savings, checking and money market accounts 1,136 1,333 2,450 3,692
Time deposits of $100,000 or more 681 2,323 1,539 5,247
Other time deposits 182 418 398 908
Borrowings 381 942 764 2,443
Total interest expense 2,380 5,016 5,151 12,290
Net interest income 58,759 52,624 113,997 107,383
Provision for loan losses 0 19,298 0 24,888
Provision for unfunded commitments 1,939 0 1,939 0
Total provision for credit losses 1,939 19,298 1,939 24,888
Net interest income after provision for credit losses 56,820 33,326 112,058 82,495
NONINTEREST INCOME        
Service charges on deposit accounts 2,824 2,289 5,557 5,626
Other service charges, commissions and fees 6,496 4,624 12,018 8,693
Fees from presold mortgage loans 2,274 3,020 6,818 4,861
Commissions from sales of insurance and financial products 2,466 2,090 4,656 4,158
SBA consulting fees 2,187 3,739 4,951 4,766
SBA loan sale gains 2,996 1,965 5,326 2,612
Bank-owned life insurance income 614 629 1,234 1,271
Securities gains (losses), net 0 8,024 0 8,024
Other gains (losses), net 1,517 (187) 1,483 (113)
Total noninterest income 21,374 26,193 42,043 39,898
NONINTEREST EXPENSES        
Salaries expense 21,187 20,606 41,318 40,716
Employee benefits expense 4,084 3,847 8,658 8,394
Total personnel expense 25,271 24,453 49,976 49,110
Occupancy expense 2,668 2,724 5,572 5,682
Equipment related expenses 1,053 1,020 2,098 2,165
Merger and acquisition expenses 411 0 411 0
Intangibles amortization expense 845 978 1,742 2,033
Foreclosed property (gains) losses, net (173) 35 (16) 194
Other operating expenses 10,910 9,691 21,267 19,793
Total noninterest expenses 40,985 38,901 81,050 78,977
Income before income taxes 37,209 20,618 73,051 43,416
Income tax expense 7,924 4,266 15,572 8,884
Net income $ 29,285 $ 16,352 $ 57,479 $ 34,532
Earnings per common share:        
Basic (in dollars per share) $ 1.03 $ 0.56 $ 2.02 $ 1.18
Diluted (in dollars per share) 1.03 0.56 2.02 1.18
Dividends declared per common share (in dollars per share) $ 0.20 $ 0.18 $ 0.40 $ 0.36
Weighted average common shares outstanding:        
Basic (in shares) 28,331,456 28,799,828 28,344,633 29,015,308
Diluted (in shares) 28,490,031 28,969,728 28,513,942 29,184,421