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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest and dividend income        
Loans $ 28,157 $ 26,212 $ 82,681 $ 77,272
Securities and other 6,105 5,972 18,593 17,407
Total interest and dividend income 34,262 32,184 101,274 94,679
Interest expense        
Deposits 7,143 5,478 20,336 13,868
Borrowings 4,674 4,237 15,232 12,192
Total interest expense 11,817 9,715 35,568 26,060
Net interest income 22,445 22,469 65,706 68,619
Provision for loan losses 893 643 1,779 2,208
Net interest income after provision for loan losses 21,552 21,826 63,927 66,411
Non-interest income        
Trust and investment management fee income 3,013 2,952 8,836 9,036
Customer service fees 2,553 2,490 7,336 7,061
Gain on sales of securities, net 157 0 157 0
Bank-owned life insurance income 497 505 1,558 1,328
Customer derivative income 828 0 1,553 545
Other income 595 1,179 1,823 2,515
Total non-interest income 7,643 7,126 21,263 20,485
Non-interest expense        
Salaries and employee benefits 11,364 10,331 33,568 31,695
Occupancy and equipment 3,415 3,366 10,101 9,364
Loss on premises and equipment, net 0 0 21 0
Outside services 424 456 1,278 1,597
Professional services 707 223 1,821 1,016
Communication 189 217 707 701
Marketing 613 293 1,419 1,207
Amortization of intangible assets 207 207 621 621
Acquisition, restructuring and other expenses 3,039 70 3,319 619
Other expenses 3,442 2,743 10,075 8,623
Total non-interest expense 23,400 17,906 62,930 55,443
Income before income taxes 5,795 11,046 22,260 31,453
Income tax expense 780 2,076 3,847 6,136
Net income $ 5,015 $ 8,970 $ 18,413 $ 25,317
Earnings per share:        
Basic (in dollars per share) $ 0.32 $ 0.58 $ 1.19 $ 1.64
Diluted (in dollars per share) $ 0.32 $ 0.58 $ 1.18 $ 1.63
Weighted average common shares outstanding:        
Basic (in shares) 15,547,276 15,503,488 15,536,414 15,478,207
Diluted (in shares) 15,581,303 15,580,063 15,581,696 15,563,766