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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Interest income:        
Interest and fees on loans $ 36,393 $ 35,197 $ 73,452 $ 72,057
Interest and dividends on investment securities 4,498 4,538 8,685 9,120
Other interest income 61 24 88 235
Total interest income 40,952 39,759 82,225 81,412
Interest expense:        
Deposits 2,165 4,677 4,400 11,696
Short-term borrowings   284 119 1,176
Long-term borrowings 1,055 617 2,117 1,235
Total interest expense 3,220 5,578 6,636 14,107
Net interest income 37,732 34,181 75,589 67,305
(Benefit) provision for credit losses (4,622) 3,746 (6,603) 17,661
Net interest income after (benefit) provision for credit losses 42,354 30,435 82,192 49,644
Noninterest income:        
Service charges on deposits 1,287 480 2,579 2,067
Insurance income 1,147 819 2,543 2,168
Card interchange income 2,194 1,776 4,152 3,378
Investment advisory 2,886 2,251 5,658 4,497
Company owned life insurance 693 462 1,350 927
Investments in limited partnerships 238 (244) 1,093 (31)
Loan servicing 91 50 188 57
(Loss) income from derivative instruments, net (592) 1,940 1,283 2,686
Net gain on sale of loans held for sale 790 612 1,868 864
Net (loss) gain on investment securities (3) 674 71 895
Net gain (loss) on other assets 153 (1) 148 63
Net gain (loss) on tax credit investments 276 (40) 191 (80)
Other 1,030 934 2,025 2,132
Total noninterest income 10,190 9,713 23,149 19,623
Noninterest expense:        
Salaries and employee benefits 14,519 15,074 28,984 30,088
Occupancy and equipment 3,286 3,388 6,668 7,144
Professional services 1,603 1,580 3,498 3,732
Computer and data processing 3,460 2,699 6,581 5,372
Supplies and postage 430 517 914 1,070
FDIC assessments 480 539 1,245 911
Advertising and promotions 436 545 760 1,100
Amortization of intangibles 266 287 537 581
Other 2,464 1,946 4,497 4,247
Total noninterest expense 26,944 26,575 53,684 54,245
Income before income taxes 25,600 13,573 51,657 15,022
Income tax expense 5,400 2,441 10,747 2,763
Net income 20,200 11,132 40,910 12,259
Preferred stock dividends 366 366 731 731
Net income available to common shareholders $ 19,834 $ 10,766 $ 40,179 $ 11,528
Earnings per common share (Note 4):        
Basic $ 1.25 $ 0.67 $ 2.53 $ 0.72
Diluted 1.25 0.67 2.52 0.72
Cash dividends declared per common share $ 0.27 $ 0.26 $ 0.54 $ 0.52