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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest and fees on loans        
Taxable $ 50,089 $ 44,439 $ 98,955 $ 86,233
Tax exempt 235 202 486 419
Interest and dividends on securities        
Taxable 2,250 2,492 4,747 4,926
Tax exempt 1,710 1,466 3,352 2,797
Other interest income 351 196 589 488
Total interest income 54,635 48,795 108,129 94,863
Interest on deposits 15,556 10,648 29,439 20,015
Interest on borrowings        
Short-term 232 195 1,182 306
Long-term 436 419 888 786
Total interest expense 16,224 11,262 31,509 21,107
NET INTEREST INCOME 38,411 37,533 76,620 73,756
Provision for loan losses 785 1,700 1,985 5,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 37,626 35,833 74,635 68,756
NONINTEREST INCOME        
Wealth advisory fees 1,646 1,544 3,266 3,049
Investment brokerage fees 528 377 914 667
Service charges on deposit accounts 4,850 3,800 9,137 7,428
Loan and service fees 2,481 2,421 4,885 4,598
Merchant and interchange fee income 670 549 1,292 1,191
Bank owned life insurance income 287 348 731 711
Mortgage banking income 398 438 620 679
Net securities gains (losses) 65 0 88 (6)
Other income 663 245 2,180 1,284
Total noninterest income 11,588 9,722 23,113 19,601
NONINTEREST EXPENSE        
Salaries and employee benefits 11,835 11,493 24,394 23,512
Net occupancy expense 1,283 1,237 2,649 2,663
Equipment costs 1,409 1,250 2,758 2,524
Data processing fees and supplies 2,574 2,290 4,999 4,803
Corporate and business development 1,171 1,046 2,377 2,179
FDIC insurance and other regulatory fees 409 409 815 870
Professional fees 1,071 910 2,008 1,782
Other expense 2,340 1,668 4,565 3,172
Total noninterest expense 22,092 20,303 44,565 41,505
INCOME BEFORE INCOME TAX EXPENSE 27,122 25,252 53,183 46,852
Income tax expense 5,409 5,110 9,788 8,374
NET INCOME $ 21,713 $ 20,142 $ 43,395 $ 38,478
BASIC WEIGHTED AVERAGE COMMON SHARES 25,614,701 25,293,329 25,553,254 25,275,471
BASIC EARNINGS PER COMMON SHARE $ 0.85 $ 0.80 $ 1.70 $ 1.52
DILUTED WEIGHTED AVERAGE COMMON SHARES 25,774,002 25,709,216 25,721,079 25,704,505
DILUTED EARNINGS PER COMMON SHARE $ 0.85 $ 0.78 $ 1.69 $ 1.50