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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest Income        
Loans and fees $ 60,529 $ 55,825 $ 119,307 $ 113,682
Federal funds sold and interest-bearing deposits with banks 52 36 89 195
Taxable investment securities and other 4,029 4,763 8,010 9,992
Tax-exempt investment securities 631 349 1,243 681
Total Interest Income 65,241 60,973 128,649 124,550
Interest Expense        
Deposits 4,238 8,094 9,362 18,957
Federal funds purchased and securities sold under agreements to repurchase 16 75 39 504
Other borrowings 1,247 2,285 2,780 4,671
Total Interest Expense 5,501 10,454 12,181 24,132
Net Interest Income 59,740 50,519 116,468 100,418
(Benefit) provision for credit losses [1] (5,959) 9,000 (8,601) 18,223
Net Interest Income after (Benefit) Provision for Credit Losses 65,699 41,519 125,069 82,195
Noninterest Income        
Service charges on deposit accounts 2,445 1,875 4,741 4,375
Commissions and fees 1,755 1,196 3,353 2,836
Income on bank owned life insurance 643 665 1,277 1,330
Gain (loss) on equity securities 11 198 (133) (455)
Gains on sales of loans 607 710 1,315 1,125
Gains on investment securities transactions, net 9 0 9 342
Swap income 72 767 634 3,610
Other income (loss) (273) 70 (168) 329
Total Noninterest Income 5,269 5,481 11,028 13,492
Noninterest Expense        
Compensation and employee benefits 20,407 18,490 40,925 38,217
Premises and equipment 6,078 5,271 12,396 10,667
FDIC insurance 621 450 1,332 748
Data processing 1,299 1,436 2,554 2,689
Other operating expenses 5,692 5,815 10,793 11,645
Total Noninterest Expense 34,097 31,462 68,000 63,966
Income before provision for income taxes 36,871 15,538 68,097 31,721
Provision for income taxes 9,464 3,687 17,515 7,478
Net Income $ 27,407 $ 11,851 $ 50,582 $ 24,243
Per Share of Common Stock        
Basic earnings (in usd per share) $ 0.53 $ 0.23 $ 0.99 $ 0.48
Diluted earnings (in usd per share) 0.53 0.23 0.98 0.47
Dividends (in usd per share) $ 0.135 $ 0.125 $ 0.260 $ 0.250
[1] The Company adopted ASU 2016-13 as of December 31, 2020. Prior year periods have not been restated.