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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 $ 35,197 $ 37,807 $ 72,057 $ 74,273
Interest and dividends on investment securities 4,538 4,752 9,120 9,698
Other interest income 24 89 235 191
Total interest income 39,759 42,648 81,412 84,162
Interest expense:        
Deposits 4,677 7,378 11,696 14,177
Short-term borrowings 284 2,189 1,176 4,494
Long-term borrowings 617 617 1,235 1,235
Total interest expense 5,578 10,184 14,107 19,906
Net interest income 34,181 32,464 67,305 64,256
Provision for credit losses 3,746 2,354 17,661 3,547
Net interest income after provision for credit losses 30,435 30,110 49,644 60,709
Noninterest income:        
Service charges on deposits 480 1,756 2,067 3,436
Insurance income 819 872 2,168 2,250
ATM and debit card 1,776 1,739 3,378 3,182
Investment advisory 2,251 2,327 4,497 4,543
Company owned life insurance 462 424 927 834
Investments in limited partnerships (244) 144 (31) 376
Loan servicing 50 104 57 214
Income from derivative instruments, net 1,940 (45) 2,686 123
Net gain on sale of loans held for sale 731 407 1,035 589
Net gain on investment securities 674 166 895 113
Net (loss) gain on other assets (1) 9 63 58
Loss on tax credit investments (40)   (80)  
Other 934 1,330 2,132 2,635
Total noninterest income 9,832 9,233 19,794 18,353
Noninterest expense:        
Salaries and employee benefits 15,074 13,249 30,088 27,250
Occupancy and equipment 3,388 3,252 7,144 6,725
Professional services 1,580 932 3,732 2,090
Computer and data processing 2,699 2,424 5,372 4,760
Supplies and postage 517 498 1,070 1,032
FDIC assessments 539 486 911 998
Advertising and promotions 545 1,086 1,100 1,606
Amortization of intangibles 287 316 581 639
Other 2,065 2,760 4,418 5,074
Total noninterest expense 26,694 25,003 54,416 50,174
Income before income taxes 13,573 14,340 15,022 28,888
Income tax expense 2,441 2,939 2,763 5,966
Net income 11,132 11,401 12,259 22,922
Preferred stock dividends 366 366 731 731
Net income available to common shareholders $ 10,766 $ 11,035 $ 11,528 $ 22,191
Earnings per common share (Note 2):        
Basic $ 0.67 $ 0.69 $ 0.72 $ 1.39
Diluted 0.67 0.69 0.72 1.39
Cash dividends declared per common share $ 0.26 $ 0.25 $ 0.52 $ 0.50