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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Interest income:      
Interest and fees on loans $ 255,479 $ 201,524 $ 168,824
Interest and dividends on investment securities:      
Taxable 9,131 8,482 6,799
Tax-exempt 3,929 3,276 3,569
Dividends 1,778 2,012 1,421
Interest on federal funds sold and other short-term investments 1,167 839 711
Total interest income 271,484 216,133 181,324
Interest expense:      
Deposits 65,570 39,936 23,670
Borrowings 19,595 18,982 12,585
Total interest expense 85,165 58,918 36,255
Net interest income 186,319 157,215 145,069
Provision for loan losses 8,100 21,100 6,000
Net interest income after provision for loan losses 178,219 136,115 139,069
Noninterest income:      
Annuity and insurance commissions 39
Income on bank owned life insurance 3,484 [1] 3,094 [1] 3,181
Net gains on sale of loans held-for-sale 512 [1] 61 [1] 708
Deposit, loan and other income 4,025 2,584 2,680
Net gains (losses) on equity securities 294 (266)
Net (losses) gains on sale of investment securities (280) 1,596
Total noninterest income 8,035 5,473 8,204
Noninterest expense:      
Salaries and employee benefits 49,021 39,556 34,878
Occupancy and equipment 9,712 8,312 8,163
FDIC insurance 2,011 3,115 3,485
Professional and consulting 5,506 3,568 2,863
Marketing and advertising 1,353 980 996
Data processing 4,503 4,421 4,543
Merger expenses 8,955 1,335
Loss on extinguishment of debt 1,047
Amortization of core deposit intangible 1,408 627 724
Other components of net periodic pension expense 114 28 250
Increase in valuation allowance, loans held-for-sale 15,592
Other expenses 8,598 8,512 7,265
Total noninterest expenses 92,228 70,454 78,759
Income before income tax expense 94,026 71,134 68,514
Income tax expense 20,631 10,782 25,294
Net income $ 73,395 $ 60,352 $ 43,220
Earnings per common share:      
Basic $ 2.08 $ 1.87 $ 1.35
Diluted $ 2.07 $ 1.86 $ 1.34
[1] Not within scope of ASC 606.