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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        
Loans receivable $ 39,236 $ 43,918 $ 80,054 $ 88,876
Investment securities – taxable 2,528 2,321 4,076 5,219
Investment securities – tax exempt 5,656 4,105 10,879 7,903
Total interest income 47,420 50,344 95,009 101,998
Interest Expense        
Deposits 2,053 4,506 4,396 12,222
Borrowed funds 1,296 2,074 2,565 4,312
Subordinated notes 881 58 1,761 58
Junior subordinated debentures issued to capital trusts 558 710 1,117 1,485
Total interest expense 4,788 7,348 9,839 18,077
Net Interest Income 42,632 42,996 85,170 83,921
Credit loss expense (recovery) (1,492) 7,057 (1,125) 15,657
Net Interest Income after Credit Loss Expense (Recovery) 44,124 35,939 86,295 68,264
Non–interest Income        
Service charges on deposit accounts 2,157 1,888 4,391 4,334
Wire transfer fees 222 230 477 401
Interchange fees 2,892 2,327 5,232 4,223
Fiduciary activities 1,961 1,765 3,704 4,293
Gains on sale of investment securities (includes $0 and $248 for the three months ended June 30, 2021 and 2020, respectively, and $914 and $587 for the six months ended June 30, 2021 and 2020, respectively, related to accumulated other comprehensive earnings reclassifications) 0 248 914 587
Gain on sale of mortgage loans 5,612 6,620 10,908 10,093
Mortgage servicing income net of impairment 1,503 (2,760) 1,716 (2,735)
Increase in cash value of bank owned life insurance 502 557 1,013 1,111
Death benefit on bank owned life insurance 266 0 266 233
Other income 92 250 459 648
Total non–interest income 15,207 11,125 29,080 23,188
Non–interest Expense        
Salaries and employee benefits 17,730 15,629 34,601 32,220
Net occupancy expenses 3,084 3,190 6,402 6,442
Data processing 2,388 2,432 4,764 4,837
Professional fees 588 518 1,132 1,054
Outside services and consultants 2,220 1,759 3,922 3,674
Loan expense 3,107 2,692 5,929 4,791
FDIC insurance expense 500 235 1,300 385
Other losses 6 193 289 313
Other expense 3,765 3,784 7,221 7,865
Total non–interest expense 33,388 30,432 65,560 61,581
Income Before Income Taxes 25,943 16,632 49,815 29,871
Income tax expense (includes $0 and $52 for the three months ended June 30, 2021 and 2020, respectively, and $192 and $123 for the six months ended June 30, 2021 and 2020, respectively, related to income tax expense from reclassification items) 3,770 1,993 7,220 3,577
Net Income $ 22,173 $ 14,639 $ 42,595 $ 26,294
Basic Earnings Per Share (in USD per share) $ 0.50 $ 0.33 $ 0.97 $ 0.59
Diluted Earnings Per Share (in USD per share) $ 0.50 $ 0.33 $ 0.97 $ 0.59