Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF INCOME (Unaudited)

v3.20.2
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
INTEREST INCOME        
Loans, including Fees $ 23,687 $ 23,765 $ 47,280 $ 46,381
Investment Securities:        
Taxable 2,708 3,301 5,704 6,688
Tax Exempt 29 92 48 218
Funds Sold 88 1,507 845 3,100
Total Interest Income 26,512 28,665 53,877 56,387
INTEREST EXPENSE        
Deposits 218 1,988 1,157 4,087
Short-Term Borrowings 421 31 553 66
Subordinated Notes Payable 374 596 845 1,204
Other Long-Term Borrowings 41 66 91 138
Total Interest Expense 1,054 2,681 2,646 5,495
NET INTEREST INCOME 25,458 25,984 51,231 50,892
Provision for Credit Losses 2,005 646 6,995 1,413
Net Interest Income After Provision For Loan Losses 23,453 25,338 44,236 49,479
NONINTEREST INCOME        
Other 2,933 1,375 4,711 2,981
Total Noninterest Income 30,199 12,770 45,677 25,322
NONINTEREST EXPENSE        
Compensation 23,658 16,437 43,394 32,786
Occupancy, Net 5,798 4,537 10,777 9,046
Other Real Estate Owned, Net 116 75 (682) 438
Other 7,731 7,347 14,783 14,324
Total Noninterest Expense 37,303 28,396 68,272 56,594
INCOME BEFORE INCOME TAXES 16,349 9,712 21,641 18,207
Income Tax Expense 2,950 2,387 4,232 4,446
NET INCOME 13,399 7,325 17,409 13,761
Net Loss Attributable to Noncontrolling Interests 4,253 0 3,976 0
NET INCOME ATTRIBUTABLE TO COMMON SHAREOWNERS $ 9,146 $ 7,325 $ 13,433 $ 13,761
BASIC NET INCOME PER SHARE (in dollars per shares) $ 0.55 $ 0.44 $ 0.80 $ 0.82
DILUTED NET INCOME PER SHARE (in dollars per shares) $ 0.55 $ 0.44 $ 0.80 $ 0.82
Average Basic Common Shares Outstanding (in shares) 16,797 16,791 16,803 16,791
Average Diluted Common Shares Outstanding (in shares) 16,839 16,818 16,844 16,820
Deposit fees [Member]        
NONINTEREST INCOME        
Revenue, fees and commissions $ 3,756 $ 4,756 $ 8,771 $ 9,531
Bank card fees [Member]        
NONINTEREST INCOME        
Revenue, fees and commissions 3,142 3,036 6,193 5,891
Wealth Managment fees [Member]        
NONINTEREST INCOME        
Revenue, fees and commissions 2,554 2,404 5,158 4,727
Mortgage banking [Member]        
NONINTEREST INCOME        
Revenue, fees and commissions $ 17,814 $ 1,199 $ 20,844 $ 2,192