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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Interest income    
Loans and leases $ 96,229 $ 86,228
Securities 4,637 3,842
Short-term investments 1,174 1,205
Total interest income 102,040 91,275
Interest expense    
Deposits 22,958 15,533
Federal Home Loan Bank advances and other borrowings 8,114 7,288
Junior subordinated notes 1,112 1,112
Total interest expense 32,184 23,933
Net interest income 69,856 67,342
Provision for loan and lease losses 2,085 5,492
Net interest income after provision for loan and lease losses 67,771 61,850
Non-interest income    
Trust and investment services fee income 8,197 7,744
Gain on sale of Small Business Administration loans 1,459 1,451
Service charges on deposits 3,104 3,062
Loan fees 1,767 1,783
Increase in cash surrender value of bank-owned life insurance 1,198 1,191
Net loss on sale of securities (46) (4)
Swap fees 4,165 1,670
Other non-interest income 3,579 1,270
Total non-interest income 23,423 18,167
Non-interest expense    
Compensation 42,021 37,439
Occupancy 2,293 2,192
Professional fees 3,703 3,869
Data processing 2,562 2,362
Marketing 2,221 2,135
Equipment 1,230 1,434
Computer software 3,414 3,015
FDIC insurance 641 1,478
Collateral liquidation costs 119 646
Net loss on foreclosed properties 224 367
Impairment of Tax Credit Investments 4,094 2,083
Impairment of tax credit investments 3,600 1,633
SBA recourse provision 188 1,913
Other non-interest expense 3,985 3,430
Total non-interest expense 66,695 62,363
Income before income tax expense 24,499 17,654
Income tax expense 1,175 1,351
Net income $ 23,324 $ 16,303
Earnings per common share:    
Basic $ 2.68 $ 1.86
Diluted 2.68 1.86
Dividends declared per share $ 0.60 $ 0.56