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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest income:        
Interest and fees on loans $ 45,751 $ 45,861 $ 137,870 $ 135,169
Interest and dividends on investment securities:        
Taxable interest 5,233 7,178 18,300 22,968
Tax-exempt interest 621 708 1,888 2,388
Dividends 17 14 51 46
Interest on deposits in other banks 3 33 42 147
Dividends on Federal Home Loan Bank stock 128 186 366 508
Total interest income 51,753 53,980 158,517 161,226
Interest on deposits:        
Demand 115 207 405 598
Savings and money market 417 1,549 2,102 3,847
Time 1,284 4,432 6,676 14,391
Interest on short-term borrowings 71 1,130 653 3,146
Interest on long-term debt 746 1,013 2,472 3,104
Total interest expense 2,633 8,331 12,308 25,086
Net interest income 49,120 45,649 146,209 136,140
Provision for credit losses 14,652 1,532 34,621 4,219
Net interest income after provision for credit losses 34,468 44,117 111,588 131,921
Other operating income:        
Mortgage banking income 4,345 1,994 8,248 5,275
Service charges on deposit accounts 1,475 2,125 4,674 6,247
Other service charges and fees 3,345 3,894 11,158 11,018
Income from fiduciary activities 1,149 1,126 3,716 3,220
Equity in earnings of unconsolidated subsidiaries 104 86 234 165
Investment securities gains (losses) (352) 36 (352) 36
Income from bank-owned life insurance 1,179 645 2,584 2,511
Net gain (loss) on sales of foreclosed assets 0 17 (6) 17
Other 318 343 885 3,544
Total other operating income 11,563 10,266 31,141 32,033
Other operating expense:        
Salaries and employee benefits 20,729 20,631 61,698 61,083
Net occupancy 3,834 3,697 11,151 10,680
Equipment 1,234 1,067 3,374 3,211
Communication expense 856 1,008 2,467 2,645
Legal and professional services 2,262 1,933 6,528 5,231
Computer software expense 3,114 2,713 9,092 7,870
Advertising expense 1,020 711 3,035 2,134
Foreclosed asset expense 6 15 73 223
Other 3,917 3,159 12,221 12,312
Total other operating expense 36,972 34,934 109,639 105,389
Income before income taxes 9,059 19,449 33,090 58,565
Income tax expense 2,200 4,895 7,988 14,440
Net income $ 6,859 $ 14,554 $ 25,102 $ 44,125
Per common share data:        
Basic earnings per common share (in dollars per share) $ 0.24 $ 0.51 $ 0.89 $ 1.54
Diluted earnings per common share (in dollars per share) 0.24 0.51 0.89 1.53
Cash dividends declared (in dollars per share) $ 0.23 $ 0.23 $ 0.69 $ 0.67
Weighted average common shares outstanding used in computation:        
Basic shares (in shares) 28,060,020 28,424,898 28,075,684 28,575,369
Diluted shares (in shares) 28,111,664 28,602,338 28,172,153 28,762,057