v3.21.2
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:        
Interest and fees on loans $ 30,995 $ 29,912 $ 60,824 $ 57,321
Interest and dividends on investment securities 1,641 457 2,756 961
Other interest income 118 185 343 1,085
Total interest income 32,754 30,554 63,923 59,367
Interest expense:        
Interest on deposits 2,081 3,945 4,408 8,452
Interest on FHLB advances and other borrowings 972 558 1,975 1,066
Total interest expense 3,053 4,503 6,383 9,518
Net interest income 29,701 26,051 57,540 49,849
Provision for loan losses 1,349 2,838 2,435 4,009
Net interest income after provision for loan losses 28,352 23,213 55,105 45,840
Noninterest income:        
Service charges and fees 1,539 1,270 2,973 2,581
SBA loan servicing fees 203 256 527 266
Mortgage referral fees 384 357 658 559
Swap referral fees 127 262 557 842
Gain on sales of loans, net   326 254 790
Gain on sales of investment securities     5  
Swap fees 1,411   1,532  
Other noninterest income 194 94 (29) 239
Total noninterest income 3,858 2,565 6,477 5,277
Noninterest expense:        
Salaries and employee benefits 9,603 7,946 18,823 19,735
Occupancy and equipment expenses 2,354 2,761 5,016 5,076
Professional services 457 716 981 1,611
Data processing and network 931 849 2,160 1,592
Regulatory assessments and insurance 483 379 1,018 781
Amortization of intangibles 755 919 1,578 1,865
Advertising 47 119 125 272
Marketing 70 38 163 198
Telephone expense 599 483 1,098 890
Conversion expense   69   1,546
Other operating expenses 1,486 1,825 2,457 3,498
Total noninterest expense 16,785 16,104 33,419 37,064
Income before income tax expense 15,425 9,674 28,163 14,053
Income tax expense 3,015 1,980 5,667 2,285
Net income $ 12,410 $ 7,694 $ 22,496 $ 11,768
Earnings per common share:        
Basic $ 0.72 $ 0.44 $ 1.31 $ 0.66
Diluted $ 0.70 $ 0.44 $ 1.28 $ 0.65
Weighted average common shares outstanding:        
Basic 17,152,217 17,581,959 17,128,233 17,883,034
Diluted 17,627,958 17,612,919 17,572,066 17,999,206

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