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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Interest and dividend income:        
Loans, including fees $ 60,725 $ 58,039 $ 181,465 $ 172,706
Investments:        
Taxable securities 7,483 6,153 20,594 21,830
Tax exempt securities 882 848 2,656 2,704
Dividends 258 223 730 807
Interest bearing cash at Federal Reserve and other banks 280 175 578 1,056
Total interest and dividend income 69,628 65,438 206,023 199,103
Interest expense:        
Deposits 855 1,412 2,620 5,776
Other borrowings 6 4 15 13
Junior subordinated debt 534 568 1,632 2,009
Total interest expense 1,395 1,984 4,267 7,798
Net interest income 68,233 63,454 201,756 191,305
Provision for (reversal of) credit losses (1,435) 7,649 (7,755) 37,963
Net interest income after credit loss provision (reversal) 69,668 55,805 209,511 153,342
Non-interest income:        
Service charges and fees 11,265 10,469 32,671 27,763
Gain on sale of loans 1,814 3,035 7,908 5,662
Gain on sale of investment securities 0 7 0 7
Asset management and commission income 957 667 2,738 2,244
Increase in cash value of life insurance 644 773 2,062 2,203
Other 415 186 1,783 735
Total non-interest income 15,095 15,137 47,162 38,614
Non-interest expense:        
Salaries and related benefits 26,274 29,321 78,685 83,648
Other 19,533 17,393 52,911 53,365
Total non-interest expense 45,807 46,714 131,596 137,013
Income before provision for income taxes 38,956 24,228 125,077 54,943
Provision for income taxes 11,534 6,622 35,644 13,786
Net income $ 27,422 $ 17,606 $ 89,433 $ 41,157
Per share data:        
Basic earnings per share (in USD per share) $ 0.92 $ 0.59 $ 3.01 $ 1.37
Diluted earnings per share (in USD per share) 0.92 0.59 2.99 1.37
Dividend per share (in USD per share) $ 0.25 $ 0.22 $ 0.75 $ 0.66