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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Interest and dividend income:    
Loans $ 58,036,000 $ 66,358,000
Taxable investment securities 782,000 868,000
Non-taxable investment securities 2,045,000 1,998,000
Mortgage-backed securities 3,437,000 2,787,000
Short-term investments and other 593,000 1,071,000
Total interest and dividend income 64,893,000 73,082,000
Interest expense:    
Deposits 4,691,000 12,796,000
Federal Home Loan Bank borrowings 236,000 2,034,000
Junior subordinated debentures 481,000 917,000
Repurchase agreements and other short-term borrowings 8,000 78,000
Total interest expense 5,416,000 15,825,000
Net interest income 59,477,000 57,257,000
Provision/(credit) for loan losses (7,004,000) 16,962,000
Net interest income after provision/(credit) for loan losses 66,481,000 40,295,000
Fees and other income:    
Fees 20,499,000 21,048,000
Other 3,387,000 (1,365,000)
Total fees and other income 26,170,000 21,521,000
Operating expense:    
Salaries and employee benefits 40,904,000 35,096,000
Occupancy and equipment 8,205,000 7,646,000
Information systems 9,719,000 6,725,000
Professional services 3,302,000 3,601,000
Merger costs 10,665,000 0
Marketing and business development 624,000 1,890,000
Amortization of intangibles 667,000 715,000
FDIC insurance 967,000 0
Restructuring 0 0
Other 870,000 5,235,000
Total operating expense 75,923,000 60,908,000
Income/(loss) before income taxes 16,728,000 908,000
Income tax expense 6,076,000 102,000
Net income/(loss) before attribution to noncontrolling interests 10,652,000 806,000
Less: Net income attributable to noncontrolling interests 0 (6,000)
Net income attributable to the Company 10,652,000 800,000
Adjustments to net income attributable to the Company to arrive at net income attributable to common shareholders 0 414,000
Net income attributable to common shareholders, treasury stock method $ 10,652,000 $ 1,214,000
Basic earnings per share attributable to common shareholders:    
Total attributable to common shareholders (in dollars per share) $ 0.13 $ 0.01
Weighted average basic common shares outstanding (in shares) 82,429,162 83,005,064
Diluted earnings per share attributable to common shareholders:    
Total attributable to common shareholders (in dollars per share) $ 0.13 $ 0.01
Weighted average diluted common shares outstanding (in shares) 83,934,107 83,318,041
Wealth management and trust fees    
Fees and other income:    
Fees $ 19,136,000 $ 18,371,000
Investment management fees    
Fees and other income:    
Fees 489,000 1,925,000
Other banking fee income    
Fees and other income:    
Fees 2,411,000 2,490,000
Gain on sale of loans, net    
Fees and other income:    
Fees $ 747,000 $ 100,000