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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income        
Loans, including fees $ 40,095 $ 34,099 $ 77,095 $ 67,848
Federal funds sold and interest bearing due from banks 84 88 150 619
Mortgage loans held for sale 58 125 122 186
Federal Home Loan Bank stock 64 70 121 141
Securities available for sale:        
Taxable 2,744 2,066 5,039 4,461
Tax-exempt 57 58 93 133
Total interest income 43,102 36,506 82,620 73,388
Interest expense        
Deposits 1,435 2,607 2,945 6,569
Securities sold under agreements to repurchase 5 8 10 24
Federal funds purchased and other short-term borrowings 4 2 6 31
Federal Home Loan Bank advance 74 361 250 790
Total interest expense 1,518 2,978 3,211 7,414
Net interest income 41,584 33,528 79,409 65,974
Provision for credit losses 4,147 7,025 2,672 12,950
Net interest income after credit loss expense 37,437 26,503 76,737 53,024
Non-interest income:        
Non-interest income 6,858 5,726 13,106 11,944
Mortgage banking income [1] 1,303 1,622 2,747 2,468
Bank owned life insurance [1] 206 176 367 355
Total non-interest income 15,788 12,622 29,632 25,158
Non-interest expenses        
Compensation 15,680 11,763 28,507 23,996
Employee benefits 3,367 2,871 6,628 6,038
Net occupancy and equipment 2,244 2,037 4,289 3,868
Technology and communication 2,670 1,999 5,016 4,062
Debit and credit card processing 976 603 1,681 1,259
Marketing and business development 822 465 1,346 1,025
Postage, printing and supplies 460 442 869 883
Legal and professional 666 628 1,128 1,251
FDIC insurance 349 330 754 459
Amortization of investments in tax credit partnerships 231 53 262 89
Capital and deposit based taxes 527 1,225 985 2,255
Merger expenses 18,100 0 18,500 0
Federal Home Loan Bank early termination penalty 474 0 474 0
Other 1,611 993 2,711 1,799
Total non-interest expenses 48,177 23,409 73,150 46,984
Income before income tax expense 5,048 15,716 33,219 31,198
Income tax expense 864 2,348 6,325 4,598
Net income $ 4,184 $ 13,368 $ 26,894 $ 26,600
Net income per share, basic (in dollars per share) $ 0.17 $ 0.59 $ 1.14 $ 1.18
Net income per share, diluted (in dollars per share) $ 0.17 $ 0.59 $ 1.13 $ 1.17
Weighted average outstanding shares        
Basic (in shares) 24,140 22,560 23,489 22,538
Diluted (in shares) 24,379 22,739 23,731 22,737
Fiduciary and Trust [Member]        
Non-interest income:        
Non-interest income $ 6,858 $ 5,726 $ 13,106 $ 11,944
Deposit Account [Member]        
Non-interest income:        
Non-interest income 1,233 800 2,177 2,083
Credit and Debit Card [Member]        
Non-interest income:        
Non-interest income 3,284 2,063 5,557 4,043
Treasury Management [Member]        
Non-interest income:        
Non-interest income 1,730 1,249 3,270 2,533
Investment Advisory, Management and Administrative Service [Member]        
Non-interest income:        
Non-interest income 545 391 1,009 857
Product and Service, Other [Member]        
Non-interest income:        
Non-interest income $ 629 $ 595 $ 1,399 $ 875
[1] Outside of the scope of ASC 606.