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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Interest and dividend income:        
Interest and fees on loans $ 34,153,000 $ 32,902,000 $ 99,062,000 $ 102,981,000
Interest on interest-earning deposits 61,000 429,000 586,000 1,412,000
Interest on investment securities 621,000 703,000 2,329,000 1,976,000
Dividend income on FHLB stock 190,000 238,000 379,000 815,000
Interest on federal funds sold and other 100,000 397,000 900,000 634,000
Total interest income 35,125,000 34,669,000 103,256,000 107,818,000
Interest expense:        
Interest on savings deposits, now and money market accounts 779,000 1,117,000 2,804,000 3,649,000
Interest on time deposits 4,746,000 8,038,000 17,765,000 21,788,000
Interest on subordinated debentures and long-term debt 1,905,000 1,921,000 5,776,000 5,783,000
Interest on other borrowed funds 444,000 81,000 1,033,000 2,857,000
Total interest expense 7,874,000 11,157,000 27,378,000 34,077,000
Net interest income 27,251,000 23,512,000 75,878,000 73,741,000
Provision for loan losses 3,861,000 824,000 8,815,000 1,731,000
Net interest income after provision for loan losses 23,390,000 22,688,000 67,063,000 72,010,000
Noninterest income:        
Service charges, fees and other 1,199,000 934,000 3,343,000 2,976,000
Gain on sale of loans 760,000 813,000 3,552,000 6,131,000
Loan servicing fees, net of amortization 546,000 827,000 1,846,000 2,566,000
Recoveries on loans acquired in business combinations 32,000 12,000 79,000 73,000
Unrealized gain on equity investments (56,000) 0 (56,000) 147,000
Increase in cash surrender value of life insurance 194,000 195,000 576,000 580,000
Gain on sale of securities 52,000 7,000 210,000 7,000
Gain on sale of OREO 0 11,000 0 11,000
Gain on sale of fixed assets 0 0 0 6,000
Noninterest Income, Total 2,727,000 2,799,000 9,550,000 12,497,000
Noninterest expense:        
Salaries and employee benefits 7,599,000 7,801,000 25,207,000 25,088,000
Occupancy and equipment expenses 2,360,000 2,434,000 7,291,000 7,360,000
Data processing 1,200,000 974,000 3,224,000 3,202,000
Legal and professional 675,000 435,000 1,949,000 1,516,000
Office expenses 271,000 335,000 931,000 965,000
Marketing and business promotion 131,000 248,000 456,000 926,000
Insurance and regulatory assessments 363,000 172,000 774,000 754,000
Core deposit premium 357,000 384,000 1,071,000 1,157,000
OREO expenses 3,000 (1,000) 31,000 161,000
Merger and conversion expenses 62,000 154,000 741,000 240,000
Other expenses 957,000 850,000 3,385,000 2,641,000
Noninterest Expense, Total 13,978,000 13,786,000 45,060,000 44,010,000
Income before income taxes 12,139,000 11,701,000 31,553,000 40,497,000
Income tax expense 3,619,000 3,689,000 9,772,000 11,963,000
Net income $ 8,520,000 $ 8,012,000 $ 21,781,000 $ 28,534,000
Net income per share        
Basic (in dollars per share) $ 0.43 $ 0.40 $ 1.10 $ 1.42
Diluted (in dollars per share) 0.43 0.39 1.09 1.40
Cash dividends declared per common share (in dollars per share) $ 0.06 $ 0.10 $ 0.24 $ 0.30