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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest Income        
Loans and fees $ 59,957 $ 56,801 $ 179,264 $ 170,483
Federal funds sold and interest-bearing deposits with banks 161 92 250 287
Taxable investment securities and other 4,232 4,139 12,242 14,131
Tax-exempt investment securities 588 401 1,831 1,082
Total Interest Income 64,938 61,433 193,587 185,983
Interest Expense        
Deposits 3,987 7,012 13,349 25,969
Federal funds purchased and securities sold under agreements to repurchase 19 27 58 531
Other borrowings 1,594 2,260 4,374 6,931
Total Interest Expense 5,600 9,299 17,781 33,431
Net Interest Income 59,338 52,134 175,806 152,552
(Benefit) provision for credit losses [1] (2,703) 8,000 (11,304) 26,223
Net Interest Income after (Benefit) Provision for Credit Losses 62,041 44,134 187,110 126,329
Noninterest Income        
Service charges on deposit accounts 2,536 2,288 7,277 6,663
Commissions and fees 1,609 1,667 4,962 4,503
Income on bank owned life insurance 645 670 1,922 2,000
Loss on equity securities (58) (170) (191) (625)
Gains on sales of loans 550 1,437 1,865 2,562
Gains on investment securities transactions, net 0 0 9 342
Swap income 0 624 634 4,234
Other income 187 257 19 586
Total Noninterest Income 5,469 6,773 16,497 20,265
Noninterest Expense        
Compensation and employee benefits 21,478 19,065 62,403 57,282
Premises and equipment 6,206 5,582 18,602 16,249
FDIC insurance 461 625 1,793 1,373
Data processing 1,495 1,211 4,049 3,900
Merger related expenses 1,072 0 1,072 0
Other operating expenses 6,495 5,614 17,288 17,259
Total Noninterest Expense 37,207 32,097 105,207 96,063
Income before provision for income taxes 30,303 18,810 98,400 50,531
Provision for income taxes 8,014 4,383 25,529 11,861
Net Income $ 22,289 $ 14,427 $ 72,871 $ 38,670
Per Share of Common Stock        
Basic earnings (in usd per share) $ 0.43 $ 0.28 $ 1.42 $ 0.76
Diluted earnings (in usd per share) 0.43 0.28 1.42 0.76
Dividends (in usd per share) $ 0.135 $ 0.125 $ 0.395 $ 0.375
[1] The Company adopted ASU 2016-13 as of December 31, 2020. Prior year periods have not been restated.