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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 and dividend income:        
Interest and fees on loans $ 40,593 $ 32,464 $ 76,598 $ 61,269
Interest and dividends on securities:        
Taxable interest and dividends 3,424 4,241 7,459 7,832
Tax exempt interest 1,748 790 3,108 1,548
Interest on federal funds sold and interest bearing deposits in other banks 34 76 232 196
Total interest income 45,799 37,571 87,397 70,845
Interest expense:        
Interest on deposits 5,219 5,322 10,632 9,686
Interest on borrowed funds 1,400 1,477 3,520 3,255
Total interest expense 6,619 6,799 14,152 12,941
Net interest income 39,180 30,772 73,245 57,904
Provision for loan losses 7,606 791 14,708 1,913
Net interest income after provision for loan losses 31,574 29,981 58,537 55,991
Non-interest income:        
Gain on sale of securities 73 36 246 74
Gain on acquisition 7,023   7,023 0
Gain/(loss) on sale of premises and equipment 469 (8) 461 (8)
Total non-interest income 15,680 6,716 22,154 12,270
Non-interest expense:        
Salaries and employee benefits 15,866 11,615 29,094 22,312
Occupancy and equipment 3,200 2,532 6,118 4,974
Acquisition and integration charges 2,295 91 3,036 3,270
Other 6,709 6,653 13,260 12,230
Total non-interest expense 28,070 20,891 51,508 42,786
Income before income taxes 19,184 15,806 29,183 25,475
Income tax expense 2,241 3,823 3,929 5,857
Net income $ 16,943 $ 11,983 $ 25,254 $ 19,618
Earnings per share:        
Basic earnings per share $ 0.79 $ 0.70 $ 1.26 $ 1.20
Diluted earnings per share $ 0.79 $ 0.69 $ 1.25 $ 1.19
Service charges on deposit accounts        
Non-interest income:        
Total non-interest income $ 1,597 $ 1,918 $ 3,511 $ 3,750
Other service charges and fees        
Non-interest income:        
Total non-interest income $ 6,518 $ 4,770 $ 10,913 $ 8,454