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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
INTEREST INCOME    
Loans and fees $ 57,857 $ 57,642
Federal funds sold and interest-bearing deposits with banks 159 254
Taxable investment securities and other 5,229 4,873
Tax-exempt investment securities 332 408
TOTAL INTEREST INCOME 63,577 63,177
INTEREST EXPENSE    
Deposits 10,863 11,497
Federal funds purchased and securities sold under agreements to repurchase 429 608
Other borrowings 2,386 2,466
TOTAL INTEREST EXPENSE 13,678 14,571
NET INTEREST INCOME 49,899 48,606
Provision for loan losses 9,223 508
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 40,676 48,098
NONINTEREST INCOME    
Service charges on deposit accounts 2,500 2,573
Commissions and fees 1,640 1,412
Income on bank owned life insurance 665 683
(Loss) gain on equity securities (653) 353
Gains on sales of loans 415 371
Gains on sales of investment securities, net 342 0
Gain (Loss) on Sales of Investment Securities, Net 342 0
Swap income 2,843 199
Other income 259 132
Total Noninterest Income 8,011 5,723
NONINTEREST EXPENSE    
Salaries and employee benefits 20,235 19,231
Net occupancy expense 2,836 2,954
Furniture and equipment 2,560 2,116
FDIC insurance expense 298 450
Stationery, supplies and postage 399 447
Marketing expense 227 469
Data processing expense 1,253 1,327
Telecommunications expense 444 493
ATM and debit card expense 587 602
Core deposit intangible amortization 265 304
Other real estate and repossessed asset expense 12 86
Long-term debt prepayment fee 356 0
Merger related expenses 0 2,860
Other expenses 3,032 2,645
TOTAL NONINTEREST EXPENSE 32,504 33,984
Income before provision for income taxes 16,183 19,837
Provision for income taxes 3,791 4,211
NET INCOME $ 12,392 $ 15,626
PER SHARE OF COMMON STOCK    
Basic earnings (in usd per share) $ 0.24 $ 0.31
Diluted earnings (in usd per share) 0.24 0.31
Common stock, dividends price per share (in usd per share) $ 0.125 $ 0.115