XML 14 R4.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
INTEREST INCOME        
Loans $ 46,536 $ 50,476 $ 141,605 $ 155,453
Investment securities and other 3,104 3,123 9,120 9,631
TOTAL INTEREST INCOME 49,640 53,599 150,725 165,084
INTEREST EXPENSE        
Deposits 2,925 7,094 10,604 26,712
Short-term borrowings and repurchase agreements 10 8 29 667
Subordinated debentures issued to capital trust 111 128 337 511
Subordinated notes 1,671 2,201 6,060 4,633
TOTAL INTEREST EXPENSE 4,717 9,431 17,030 32,523
NET INTEREST INCOME 44,923 44,168 133,695 132,561
PROVISION (CREDIT) FOR CREDIT LOSSES ON LOANS (3,000) 4,500 (3,700) 14,371
PROVISION (CREDIT) FOR UNFUNDED COMMITMENTS 643   (338)  
NET INTEREST INCOME AFTER PROVISION (CREDIT) FOR CREDIT LOSSES AND PROVISION (CREDIT) FOR UNFUNDED COMMITMENTS 47,280 39,668 137,733 118,190
NON-INTEREST INCOME        
Commissions 325 318 977 760
Overdraft and Insufficient funds fees 1,845 1,635 4,817 4,712
Point-Of-Sale and ATM fee income and service charges 3,714 3,057 11,043 8,878
Net gains on loan sales 2,341 2,878 7,643 5,308
Late charges and fees on loans 481 352 1,141 1,175
Gain (loss) on derivative interest rate products 45 89 340 (424)
Net realized gains on sales of available-for-sale securities       78
Other income 1,047 1,137 3,159 4,606
TOTAL NON-INTEREST INCOME 9,798 9,466 29,120 25,093
NON-INTEREST EXPENSE        
Salaries and employee benefits 17,834 18,701 52,887 53,699
Net occupancy and equipment expense 7,244 7,147 21,013 20,619
Postage 759 748 2,387 2,294
Insurance 775 753 2,294 1,668
Advertising 997 757 2,187 1,814
Office supplies and printing 200 271 639 806
Telephone 848 987 2,597 2,904
Legal, audit and other professional fees 636 582 1,814 1,844
Expense on other real estate and repossessions 103 199 473 946
Acquired deposit intangible asset amortization 158 289 705 866
Other operating expenses 1,785 1,554 4,856 4,691
TOTAL NON-INTEREST EXPENSE 31,339 31,988 91,852 92,151
INCOME BEFORE INCOME TAXES 25,739 17,146 75,001 51,132
PROVISION FOR INCOME TAXES 5,375 3,692 15,655 9,607
NET INCOME AND NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 20,364 $ 13,454 $ 59,346 $ 41,525
Earnings Per Common Share        
Basic $ 1.50 $ 0.96 $ 4.35 $ 2.94
Diluted 1.49 0.96 4.32 2.93
Dividends Declared Per Common Share $ 0.36 $ 0.34 $ 1.04 $ 2.02