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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
INTEREST INCOME    
Loans $ 54,556 $ 45,165
Investment securities and other 2,802 1,717
TOTAL INTEREST INCOME 57,358 46,882
INTEREST EXPENSE    
Deposits 10,470 5,584
Federal Home Loan Bank advances 0 605
Short-term borrowings and repurchase agreements 922 28
Subordinated debentures issued to capital trust 267 202
Subordinated notes 1,094 1,025
TOTAL INTEREST EXPENSE 12,753 7,444
NET INTEREST INCOME 44,605 39,438
Provision for Loan Losses 1,950 1,950
Net Interest Income After Provision for Loan Losses 42,655 37,488
NON-INTEREST INCOME    
Commissions 334 248
Service charges and ATM fees 4,958 5,244
Net gains on loan sales 248 462
Late charges and fees on loans 346 389
Net realized gains on sales of available-for-sale securities 10 0
Gain (loss) on derivative interest rate products (25) 37
Other income 1,579 555
TOTAL NON-INTEREST INCOME 7,450 6,935
NON-INTEREST EXPENSE    
Salaries and employee benefits 15,640 14,623
Net occupancy and equipment expense 6,401 6,384
Postage 767 866
Insurance 666 670
Advertising 527 671
Office supplies and printing 259 233
Telephone 903 719
Legal, audit and other professional fees 712 809
Expense on other real estate and repossessions 620 1,141
Partnership Tax Credit Investment Amortization 91 302
Acquired Deposit Intangible Asset Amortization 325 412
Other operating expenses 1,584 1,482
TOTAL NON-INTEREST EXPENSE 28,495 28,312
INCOME BEFORE INCOME TAXES 21,610 16,111
Provision for Income Taxes 3,998 2,645
NET INCOME AND NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 17,612 $ 13,466
Basic Earnings Per Common Share $ 1.24 $ 0.95
Diluted Earnings Per Common Share 1.23 0.95
Dividends Declared Per Common Share $ 1.07 $ 0.28