XML 14 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
INTEREST INCOME:        
Interest and fees on loans $ 46,863 $ 47,647 $ 147,137 $ 142,328
Taxable interest on investment securities 4,711 3,865 12,295 14,068
Nontaxable interest on investment securities 931 953 2,836 2,686
Interest on interest earning deposits 537 98 975 561
Total interest income 53,042 52,563 163,243 159,643
INTEREST EXPENSE:        
Deposits 1,444 2,639 4,696 10,272
Junior subordinated debentures 184 196 557 699
Other borrowings 36 50 109 130
Total interest expense 1,664 2,885 5,362 11,101
Net interest income 51,378 49,678 157,881 148,542
(Reversal of) provision for credit losses (3,149) 2,730 (24,335) 39,239
Net interest income after (reversal of) provision for credit losses 54,527 46,948 182,216 109,303
NONINTEREST INCOME:        
Service charges and other fees 4,566 4,039 12,988 12,015
Gain on sale of investment securities, net 0 40 29 1,463
Gain on sale of loans, net 765 1,443 3,138 3,125
Interest rate swap fees 126 396 487 1,461
Bank owned life insurance income 647 909 2,020 2,439
Other income 2,124 1,383 6,114 5,441
Total noninterest income 8,228 8,210 24,776 25,944
NONINTEREST EXPENSE:        
Compensation and employee benefits 22,176 21,416 66,725 65,849
Occupancy and equipment 4,373 4,348 12,918 13,247
Data processing 4,029 3,691 11,839 10,735
Marketing 775 755 2,336 2,317
Professional services 816 1,086 3,249 4,632
State/municipal business and use taxes 1,071 964 3,034 2,626
Federal deposit insurance premium 550 848 1,478 1,086
Other real estate owned, net 0 0 0 (145)
Amortization of intangible assets 758 860 2,352 2,666
Other expense 2,618 2,077 6,873 7,365
Total noninterest expense 37,166 36,045 110,804 110,378
Income before income taxes 25,589 19,113 96,188 24,869
Income tax expense 4,997 2,477 17,550 2,181
Net income $ 20,592 $ 16,636 $ 78,638 $ 22,688
Basic earnings per common share (in usd per share) $ 0.58 $ 0.46 $ 2.19 $ 0.63
Diluted earnings per common share (in usd per share) 0.58 0.46 2.18 0.63
Dividends declared per common share (in usd per share) $ 0.20 $ 0.20 $ 0.60 $ 0.60
Basic weighted average common shares outstanding (in shares) 35,644,192 35,908,845 35,854,258 36,049,369
Weighted Average Number of Shares Outstanding, Diluted 35,929,518 35,988,734 36,152,052 36,193,615