XML 17 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest and dividend income        
Loans $ 25,918 $ 28,157 $ 80,398 $ 82,681
Securities and other 4,557 6,105 15,006 18,593
Total interest and dividend income 30,475 34,262 95,404 101,274
Interest expense        
Deposits 3,869 7,143 14,437 20,336
Borrowings 1,941 4,674 7,149 15,232
Total interest expense 5,810 11,817 21,586 35,568
Net interest income 24,665 22,445 73,818 65,706
Provision for loan losses 1,800 893 4,265 1,779
Net interest income after provision for loan losses 22,865 21,552 69,553 63,927
Non-interest income        
Trust and investment management fee income 3,532 3,013 10,060 8,836
Customer service fees 2,886 2,553 8,437 7,336
Gain on sales of securities, net   157 1,486 157
Mortgage banking income 2,649 452 4,230 1,094
Bank-owned life insurance income 492 497 1,525 1,558
Customer derivative income 316 828 1,417 1,553
Other income 227 143 1,078 729
Total non-interest income 10,102 7,643 28,233 21,263
Non-interest expense        
Salaries and employee benefits 11,809 11,364 35,602 33,568
Occupancy and equipment 4,279 3,415 12,559 10,101
Loss on premises and equipment, net     90 21
Outside services 438 424 1,414 1,278
Professional services 479 707 1,488 1,821
Communication 215 189 698 707
Marketing 300 613 970 1,419
Amortization of intangible assets 256 207 768 621
Loss on debt extinguishment     1,351 0
Acquisition, conversion and other expenses 691 3,039 952 3,319
Other expenses 3,952 3,442 11,152 10,075
Total non-interest expense 22,419 23,400 67,044 62,930
Income before income taxes 10,548 5,795 30,742 22,260
Income tax expense 2,146 780 6,138 3,847
Net income $ 8,402 $ 5,015 $ 24,604 $ 18,413
Earnings per share:        
Basic (in dollars per share) $ 0.56 $ 0.32 $ 1.60 $ 1.19
Diluted (in dollars per share) $ 0.56 $ 0.32 $ 1.60 $ 1.18
Weighted average common shares outstanding:        
Basic (in shares) 15,079,413 15,547,276 15,358,803 15,536,414
Diluted (in shares) 15,102,834 15,581,303 15,381,866 15,581,696