XML 14 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest income:        
Interest and fees on loans $ 26,991 $ 22,721 $ 55,049 $ 44,900
Interest on securities -- taxable 238 246 618 655
Interest on securities -- tax-exempt 475 649 1,013 1,334
Interest on deposits in banks 82 766 615 1,104
Total interest income 27,786 24,382 57,295 47,993
Interest expense:        
Interest on deposits 1,445 1,392 3,270 2,697
Interest on short-term borrowings 2 1 4 121
Total interest expense 1,447 1,393 3,274 2,818
Net interest income 26,339 22,989 54,021 45,175
Provision for credit losses 3,831 1,585 7,331 2,805
Net interest income after provision for loan losses 22,508 21,404 46,690 42,370
Noninterest income:        
Net (loss) gain on sale of securities 0 (43) 385 (43)
Net FDIC indemnification asset amortization (483) (516) (969) (1,068)
Litigation settlements 0 2,025 0 3,700
Other operating income 1,365 471 2,209 1,226
Total noninterest income 6,913 8,649 14,462 16,729
Noninterest expense:        
Salaries and employee benefits 11,015 9,153 22,401 18,319
Occupancy expense 1,275 1,082 2,590 2,235
Furniture and equipment expense 1,316 1,062 2,700 2,095
Service fees 1,329 1,231 2,852 2,261
Advertising and public relations 475 513 987 1,037
Professional fees 307 328 540 742
Amortization of intangibles 360 249 721 495
FDIC premiums and assessments 33 150 33 318
Merger expenses 0 0 1,893 0
Other operating expense 2,803 2,883 5,860 5,934
Total noninterest expense 18,913 16,651 40,577 33,436
Income before income taxes 10,508 13,402 20,575 25,663
Income tax expense 2,270 2,951 4,465 5,581
Net income $ 8,238 $ 10,451 $ 16,110 $ 20,082
Earnings per common share        
Basic (in dollars per share) $ 0.47 $ 0.67 $ 0.90 $ 1.27
Diluted (in dollars per share) $ 0.46 $ 0.66 $ 0.90 $ 1.27
Weighted average shares outstanding        
Basic (in shares) 17,701,853 15,712,204 17,850,423 15,775,462
Diluted (in shares) 17,728,300 15,775,320 17,888,325 15,847,498
Fiduciary and Trust [Member]        
Noninterest income:        
Noninterest income $ 854 $ 884 $ 1,698 $ 1,629
Deposit Account [Member]        
Noninterest income:        
Noninterest income 2,560 3,699 6,291 7,107
Financial Service, Other [Member]        
Noninterest income:        
Noninterest income $ 2,617 $ 2,129 $ 4,848 $ 4,178