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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Interest and dividend income        
Loans $ 26,493 $ 27,660 $ 54,480 $ 54,524
Securities and other 4,942 6,125 10,449 12,488
Total interest and dividend income 31,435 33,785 64,929 67,012
Interest expense        
Deposits 4,548 6,886 10,568 13,193
Borrowings 2,297 5,403 5,208 10,558
Total interest expense 6,845 12,289 15,776 23,751
Net interest income 24,590 21,496 49,153 43,261
Provision for loan losses 1,354 562 2,465 886
Net interest income after provision for loan losses 23,236 20,934 46,688 42,375
Non-interest income        
Trust and investment management fee income 3,159 3,066 6,528 5,823
Customer service fees 2,439 2,618 5,551 4,783
Gain on sales of securities, net 1,351   1,486 0
Mortgage banking income 1,124 420 1,581 642
Bank-owned life insurance income 496 519 1,033 1,061
Customer derivative income 513 696 1,101 725
Other income 628 134 851 586
Total non-interest income 9,710 7,453 18,131 13,620
Non-interest expense        
Salaries and employee benefits 11,909 11,685 23,793 22,204
Occupancy and equipment 3,860 3,300 8,280 6,686
(Gain) loss on premises and equipment, net (2) 21 90 21
Outside services 442 443 976 854
Professional services 337 570 1,009 1,114
Communication 194 283 483 518
Marketing 282 511 670 806
Amortization of intangible assets 256 207 512 414
Loss on debt extinguishment 1,351   1,351 0
Acquisition, restructuring and other expenses 158 280 261 280
Other expenses 3,479 3,606 7,200 6,633
Total non-interest expense 22,266 20,906 44,625 39,530
Income before income taxes 10,680 7,481 20,194 16,465
Income tax expense 2,199 1,364 3,992 3,067
Net income $ 8,481 $ 6,117 $ 16,202 $ 13,398
Earnings per share:        
Basic (in dollars per share) $ 0.55 $ 0.39 $ 1.05 $ 0.86
Diluted (in dollars per share) $ 0.55 $ 0.39 $ 1.04 $ 0.86
Weighted average common shares outstanding:        
Basic (in shares) 15,423,997 15,538,282 15,500,033 15,530,893
Diluted (in shares) 15,441,278 15,585,581 15,522,993 15,582,233