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Consolidated Statements of Income (Unaudited) - 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 $ 35,602 $ 37,904 $ 107,659 $ 112,177
Interest and dividends on investment securities 4,086 4,449 13,206 14,147
Other interest income 31 106 266 297
Total interest income 39,719 42,459 121,131 126,621
Interest expense:        
Deposits 3,370 7,277 15,066 21,454
Short-term borrowings 232 2,081 1,408 6,575
Long-term borrowings 618 618 1,853 1,853
Total interest expense 4,220 9,976 18,327 29,882
Net interest income 35,499 32,483 102,804 96,739
Provision for credit losses 4,028 1,844 21,689 5,391
Net interest income after provision for credit losses 31,471 30,639 81,115 91,348
Noninterest income:        
Service charges on deposits 1,254 1,925 3,321 5,361
Insurance income 1,357 1,439 3,525 3,689
ATM and debit card 1,943 1,801 5,321 4,983
Investment advisory 2,443 2,269 6,940 6,812
Company owned life insurance 470 459 1,397 1,293
Investments in limited partnerships (105) 116 (136) 492
Loan servicing 49 102 106 316
Income from derivative instruments, net 1,931 890 4,617 1,013
Net gain on sale of loans held for sale 1,581 439 2,616 1,028
Net gain on investment securities 554 1,608 1,449 1,721
Net (loss) gain on other assets (55) (2) 8 56
Loss on tax credit investments (40)   (120)  
Other 1,019 1,315 3,151 3,950
Total noninterest income 12,401 12,361 32,195 30,714
Noninterest expense:        
Salaries and employee benefits 15,085 14,411 45,173 41,661
Occupancy and equipment 3,263 4,650 10,407 10,106
Professional services 1,242 1,528 4,974 3,618
Computer and data processing 3,250 1,378 8,622 7,407
Supplies and postage 463 522 1,533 1,554
FDIC assessments 594 7 1,505 1,005
Advertising and promotions 955 745 2,055 2,351
Amortization of intangibles 280 309 861 948
Restructuring charges 1,362   1,362  
Other 2,165 2,336 6,583 7,410
Total noninterest expense 28,659 25,886 83,075 76,060
Income before income taxes 15,213 17,114 30,235 46,002
Income tax expense 2,940 4,281 5,703 10,247
Net income 12,273 12,833 24,532 35,755
Preferred stock dividends 365 365 1,096 1,096
Net income available to common shareholders $ 11,908 $ 12,468 $ 23,436 $ 34,659
Earnings per common share (Note 3):        
Basic $ 0.74 $ 0.78 $ 1.46 $ 2.17
Diluted 0.74 0.78 1.46 2.16
Cash dividends declared per common share $ 0.26 $ 0.25 $ 0.78 $ 0.75