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Consolidated Condensed Statements of Income - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest Income        
Loans $ 57,134,000 $ 33,284,000 $ 167,390,000 $ 97,158,000
Investment securities:        
Taxable 2,199,000 1,134,000 6,540,000 3,788,000
Non-taxable 649,000 818,000 1,949,000 2,507,000
Interest-bearing deposits 82,000 312,000 391,000 857,000
FHLB stock dividends 95,000 135,000 861,000 533,000
Total interest income 60,159,000 35,683,000 177,131,000 104,843,000
Interest Expense        
Deposits 6,555,000 6,029,000 21,761,000 16,615,000
FHLB advances and other 168,000 431,000 1,690,000 1,011,000
Subordinated debentures 158,000 329,000 610,000 1,043,000
Notes payable 7,000 2,000 32,000 23,000
Total interest expense 6,888,000 6,791,000 24,093,000 18,692,000
Net interest income 53,271,000 28,892,000 153,038,000 86,151,000
Credit loss expense - loans and leases [1] 3,658,000 1,327,000 49,312,000 1,821,000
Credit loss expense (benefit) - unfunded commitments [1] (864,000) (62,000) 1,702,000 (60,000)
Net interest income after credit loss expense 50,477,000 27,627,000 102,024,000 84,390,000
Non-interest Income        
Service fees and other charges 4,805,000 4,027,000 15,601,000 10,335,000
Insurance commissions 3,715,000 3,263,000 12,875,000 10,994,000
Mortgage banking income 12,047,000 2,822,000 22,763,000 6,800,000
Gain on sale of non-mortgage loans   105,000 234,000 215,000
Gain on sale of securities available for sale 1,466,000 11,000 1,464,000 11,000
Gain on trading securities 14,000 0 14,000 0
Wealth management income 1,458,000 705,000 4,351,000 2,063,000
Income from Bank Owned Life Insurance 841,000 783,000 2,460,000 1,702,000
Other non-interest income 654,000 126,000 2,251,000 1,021,000
Total non-interest income 25,000,000 11,842,000 62,013,000 33,141,000
Non-interest Expense        
Compensation and benefits 20,172,000 14,061,000 57,331,000 42,544,000
Occupancy 3,989,000 2,206,000 11,848,000 6,751,000
FDIC insurance premium 1,469,000 (255,000) 2,372,000 276,000
Financial institutions tax 1,116,000 555,000 3,066,000 1,667,000
Data processing 4,289,000 1,728,000 11,135,000 6,292,000
Acquisition related charges 3,711,000 540,000 17,295,000 540,000
Amortization of intangibles 1,726,000 264,000 4,781,000 839,000
Other non-interest expense 7,091,000 4,166,000 16,028,000 13,455,000
Total non-interest expense 43,563,000 23,265,000 123,856,000 72,364,000
Income before income taxes 31,914,000 16,204,000 40,181,000 45,167,000
Federal income taxes 6,259,000 3,033,000 7,951,000 8,315,000
Net income $ 25,655,000 $ 13,171,000 $ 32,230,000 $ 36,852,000
Earnings per common share        
Basic $ 0.69 $ 0.67 $ 0.91 $ 1.86
Diluted $ 0.69 $ 0.66 $ 0.91 $ 1.85
[1]

Beginning January 1, 2020, calculation is based on current expected loss methodology.  Prior to January 1, 2020, calculation was based on incurred loss methodology.