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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        
Loans and leases $ 23,591 $ 21,548 $ 46,386 $ 43,397
Securities 816 1,070 1,669 2,258
Short-term investments 192 143 351 477
Total interest income 24,599 22,761 48,406 46,132
Interest expense        
Deposits 943 1,924 1,962 6,040
Federal Home Loan Bank advances and other borrowings 1,727 1,672 3,377 3,600
Junior subordinated notes 277 277 552 555
Total interest expense 2,947 3,873 5,891 10,195
Net interest income 21,652 18,888 42,515 35,937
Provision for loan and lease losses (958) 5,469 (3,026) 8,651
Net interest income after provision for loan and lease losses 22,610 13,419 45,541 27,286
Non-interest income        
Private wealth management service fees 2,744 2,124 5,151 4,235
Gain on sale of Small Business Administration loans 1,203 574 2,281 839
Service charges on deposits 941 829 1,859 1,647
Loan fees 569 451 1,114 936
Increase in cash surrender value of bank-owned life insurance 350 377 699 672
Net gain (loss) on sale of securities 29 0 29 (4)
Swap fees 0 1,655 684 3,336
Other non-interest income 485 309 1,699 1,072
Total non-interest income 6,321 6,319 13,516 12,733
Non-interest expense        
Compensation 13,255 10,796 25,912 21,848
Occupancy 533 554 1,085 1,126
Professional fees 913 859 1,778 1,678
Data processing 798 710 1,569 1,386
Marketing 511 352 902 813
Equipment 261 304 506 595
Computer software 1,129 966 2,244 1,856
FDIC insurance 280 239 642 448
Collateral liquidation costs 84 115 178 236
Net (gain) loss on foreclosed properties 1 (348) (1) (450)
Impairment of tax credit investments 0 1,841 0 1,954
SBA Recourse Provision (Benefit) 245 (30) 115 (5)
Loss on early extinguishment of debt 0 744 0 744
Other non-interest expense 176 545 582 1,359
Total non-interest expense 18,184 18,343 35,514 34,488
Income before income tax expense (benefit) 10,747 1,395 23,543 5,531
Income tax expense (benefit) 2,512 (1,928) 5,577 (1,070)
Net income $ 8,235 $ 3,323 $ 17,966 $ 6,601
Earnings per common share        
Basic $ 0.95 $ 0.38 $ 2.08 $ 0.77
Diluted 0.95 0.38 2.08 0.77
Dividends declared per share $ 0.18 $ 0.165 $ 0.36 $ 0.33