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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
INTEREST INCOME:        
Interest and fees on loans $ 50,750 $ 48,404 $ 100,274 $ 94,681
Taxable interest on investment securities 4,050 4,570 7,584 10,203
Nontaxable interest on investment securities 947 977 1,905 1,733
Interest on interest earning deposits 263 43 438 463
Total interest income 56,010 53,994 110,201 107,080
INTEREST EXPENSE:        
Deposits 1,524 3,417 3,252 7,633
Junior subordinated debentures 186 218 373 503
Other borrowings 35 46 73 80
Total interest expense 1,745 3,681 3,698 8,216
Net interest income 54,265 50,313 106,503 98,864
(Reversal of) provision for credit losses (13,987) 28,563 (21,186) 36,509
Net interest income after (reversal of) provision for credit losses 68,252 21,750 127,689 62,355
NONINTEREST INCOME:        
Service charges and other fees 4,422 3,600 8,422 7,976
Gain on sale of investment securities, net 0 409 29 1,423
Gain on sale of loans, net 1,003 1,135 2,373 1,682
Interest rate swap fees 209 769 361 1,065
Bank owned life insurance income 717 645 1,373 1,530
Other income 1,946 1,690 3,990 4,058
Total noninterest income 8,297 8,248 16,548 17,734
NONINTEREST EXPENSE:        
Compensation and employee benefits 22,088 21,927 44,549 44,433
Occupancy and equipment 4,091 4,335 8,545 8,899
Data processing 3,998 3,517 7,810 7,044
Marketing 892 696 1,561 1,562
Professional services 1,102 2,169 2,433 3,546
State/municipal business and use taxes 991 905 1,963 1,662
Federal deposit insurance premium 339 238 928 238
Other real estate owned, net 0 (170) 0 (145)
Amortization of intangible assets 797 903 1,594 1,806
Other expense 2,098 2,553 4,255 5,288
Total noninterest expense 36,396 37,073 73,638 74,333
Income (loss) before income taxes 40,153 (7,075) 70,599 5,756
Income tax expense (benefit) 7,451 (936) 12,553 (296)
Net income (loss) $ 32,702 $ (6,139) $ 58,046 $ 6,052
Basic earnings per common share (in usd per share) $ 0.91 $ (0.17) $ 1.61 $ 0.17
Diluted earnings per common share (in usd per share) 0.90 (0.17) 1.60 0.17
Dividends declared per common share (in usd per share) $ 0.20 $ 0.20 $ 0.40 $ 0.40
Basic weighted average common shares outstanding (in shares) 35,994,740 35,898,716 35,961,032 36,120,403
Weighted Average Number of Shares Outstanding, Diluted 36,289,464 35,898,716 36,268,861 36,275,391