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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
INTEREST INCOME        
Loans and fees $ 55,825 $ 59,119 $ 113,682 $ 116,761
Federal funds sold and interest-bearing deposits with banks 36 348 195 602
Taxable investment securities and other 4,763 4,985 9,992 9,858
Tax-exempt investment securities 349 396 681 804
TOTAL INTEREST INCOME 60,973 64,848 124,550 128,025
INTEREST EXPENSE        
Deposits 8,094 12,762 18,957 24,259
Federal funds purchased and securities sold under agreements to repurchase 75 494 504 1,102
Other borrowings 2,285 2,394 4,671 4,860
TOTAL INTEREST EXPENSE 10,454 15,650 24,132 30,221
NET INTEREST INCOME 50,519 49,198 100,418 97,804
Provision for loan losses 9,000 0 18,223 508
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 41,519 49,198 82,195 97,296
NONINTEREST INCOME        
Service charges on deposit accounts 1,875 2,755 4,375 5,328
Commissions and fees 1,196 1,725 2,836 3,137
Income on bank owned life insurance 665 690 1,330 1,373
(Loss) gain on equity securities 198 100 (455) 453
Gains on sales of loans 710 428 1,125 799
Gains on sales of investment securities, net 0 0 342 0
Swap income 767 656 3,610 855
Other income 70 35 329 167
Total Noninterest Income 5,481 6,389 13,492 12,112
NONINTEREST EXPENSE        
Salaries and employee benefits 20,269 19,379 40,504 38,610
Net occupancy expense 2,488 2,629 5,324 5,583
Furniture and equipment 2,783 2,165 5,343 4,281
FDIC insurance expense 450 401 748 851
Stationery, supplies and postage 381 401 780 848
Marketing expense 232 538 459 1,007
Data processing expense 1,436 1,225 2,689 2,552
Telecommunications expense 454 478 898 971
ATM and debit card expense 536 583 1,123 1,185
Core deposit intangible amortization 261 301 526 605
Other real estate and repossessed asset expense 43 108 55 194
Long-term debt prepayment fee 0 0 356 0
Merger related expenses 0 318 0 3,178
Other expenses 2,129 3,160 5,161 5,805
TOTAL NONINTEREST EXPENSE 31,462 31,686 63,966 65,670
Income before provision for income taxes 15,538 23,901 31,721 43,738
Provision for income taxes 3,687 6,444 7,478 10,655
NET INCOME $ 11,851 $ 17,457 $ 24,243 $ 33,083
PER SHARE OF COMMON STOCK        
Basic earnings (in usd per share) $ 0.23 $ 0.34 $ 0.48 $ 0.65
Diluted earnings (in usd per share) 0.23 0.34 0.47 0.65
Common stock, dividends price per share (in usd per share) $ 0.125 $ 0.125 $ 0.25 $ 0.24