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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
INTEREST INCOME:        
Loans, including fees $ 54,185 $ 60,211 $ 131,698 $ 137,039
Taxable investment securities 2,712 3,284 5,495 6,875
Federal Home Loan Bank stock and other 194 2,169 1,057 4,383
Total interest income 57,091 65,664 138,250 148,297
INTEREST EXPENSE:        
Deposits 3,647 6,903 9,949 13,651
Securities sold under agreements to repurchase and other short-term borrowings 17 330 136 751
Federal Reserve Payment Protection Plan Liquidity Facility 105   105  
Federal Home Loan Bank advances 822 4,062 2,470 6,792
Subordinated note 295 423 647 858
Total interest expense 4,886 11,718 13,307 22,052
NET INTEREST INCOME 52,205 53,946 124,943 126,245
Provision for expected credit loss expense 6,534 4,460 29,294 21,691
NET INTEREST INCOME AFTER PROVISION 45,671 49,486 95,649 104,554
NONINTEREST INCOME:        
Service charges on deposit accounts 2,451 3,598 5,587 6,901
Net refund transfer fees 2,913 3,629 18,736 20,729
Mortgage banking income 8,398 2,416 13,193 3,955
Interchange fee income 2,808 3,257 5,360 6,014
Program fees 1,138 1,037 3,762 2,111
Increase in cash surrender value of bank owned life insurance 395 377 784 759
Net gains on other real estate owned 1 90 4 220
Other 647 721 1,894 1,853
Total noninterest income 18,751 15,125 49,320 42,542
NONINTEREST EXPENSE:        
Salaries and employee benefits 26,324 25,286 52,946 50,362
Occupancy and equipment, net 6,715 6,472 13,561 13,056
Communication and transportation 1,353 1,071 2,642 2,232
Marketing and development 1,018 1,278 1,851 2,380
FDIC insurance expense 299 295 299 743
Bank franchise tax expense 914 935 3,420 3,431
Data processing 2,753 2,217 5,292 4,313
Interchange related expense 1,173 1,302 2,249 2,617
Supplies 539 582 991 1,066
Other real estate owned and other repossession expense 21 148 39 194
Legal and professional fees 1,025 844 2,262 1,730
Other 2,691 2,998 6,242 6,813
Total noninterest expense 44,825 43,428 91,794 88,937
INCOME BEFORE INCOME TAX EXPENSE 19,597 21,183 53,175 58,159
INCOME TAX EXPENSE 3,793 3,176 10,674 10,636
NET INCOME $ 15,804 $ 18,007 $ 42,501 $ 47,523
Class A Common Stock        
BASIC EARNINGS PER SHARE:        
Basic earnings per share (in dollars per share) $ 0.77 $ 0.86 $ 2.04 $ 2.29
DILUTED EARNINGS PER SHARE:        
Diluted earnings per share (in dollars per share) 0.76 0.86 2.04 2.28
Class B Common Stock        
BASIC EARNINGS PER SHARE:        
Basic earnings per share (in dollars per share) 0.69 0.79 1.86 2.08
DILUTED EARNINGS PER SHARE:        
Diluted earnings per share (in dollars per share) $ 0.69 $ 0.78 $ 1.85 $ 2.07