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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest and dividend income        
Loans, including fees $ 60,699 $ 42,077 $ 118,854 $ 83,607
Securities 2,119 993 4,046 1,917
Dividends and other interest-earning assets 2,026 564 2,724 886
Total interest and dividend income 64,844 43,634 125,624 86,410
Interest expense        
Deposits 6,165 6,071 12,526 11,806
Federal Home Loan Bank advances 290 99 643 199
Long term debt and other interest-bearing liabilities 4,285 1,889 6,354 3,645
Total interest expense 10,740 8,059 19,523 15,650
Net interest income 54,104 35,575 106,101 70,760
Provision for loan and lease losses 5,474 2,108 5,474 4,037
Net interest income after provision for loan and lease losses 48,630 33,467 100,627 66,723
Noninterest income        
Customer service fees 1,072 356 1,982 609
Loan servicing income 2,007 774 1,565 2,027
Income from bank owned life insurance 47 56 106 103
Net gain (loss) on sale of securities available for sale 0 15 (2) 522
Net gain on sale of loans 7,838 3,038 12,310 5,641
Net revenue on mortgage banking activities 39,403 26,133 77,336 43,457
Advisory service fees 4,435 1,808 5,632 2,918
Loan brokerage income 661 2,416 1,802 4,327
Gain on sale of building 9,919 0 9,919 0
Other income 1,311 776 2,023 1,046
Total noninterest income 66,693 35,372 112,673 60,650
Noninterest expense        
Salaries and employee benefits 56,120 39,130 105,891 73,811
Occupancy and equipment 10,325 7,425 20,096 15,962
Professional fees 6,689 3,528 10,124 7,393
Data processing 2,075 1,270 3,910 2,061
Advertising 1,252 710 2,164 1,785
Regulatory assessments 1,376 1,046 2,730 1,987
Loan servicing and foreclosure expense 276 175 595 350
Valuation allowance for other real estate owned 0 0 22 0
Net gain on sales of other real estate owned (6) 0 (23) 0
Provision for loan repurchases 999 330 1,844 901
Amortization of intangible assets 1,545 944 3,089 1,883
Impairment on intangible assets 258 0 258 0
All other expense 7,011 5,746 13,099 11,765
Total noninterest expense 87,920 60,304 163,799 117,898
Income before income taxes 27,403 8,535 49,501 9,475
Income tax expense 11,479 436 21,003 627
Net income 15,924 8,099 28,498 8,848
Preferred stock dividends 2,843 910 3,753 1,820
Net income available to common stockholders $ 13,081 $ 7,189 $ 24,745 $ 7,028
Basic earnings per common share (in usd per share) $ 0.33 $ 0.27 $ 0.62 $ 0.30
Diluted earnings per common share (in usd per share) $ 0.32 $ 0.27 $ 0.62 $ 0.30
Class A Common Stock        
Noninterest expense        
Net income $ 15,923 $ 7,912 $ 28,482 $ 8,620
Preferred stock dividends $ 2,843 $ 889 $ 3,751 $ 1,773
Basic earnings per common share (in usd per share) $ 0.33 $ 0.27 $ 0.62 $ 0.30
Diluted earnings per common share (in usd per share) $ 0.32 $ 0.27 $ 0.62 $ 0.30
Class B Common Stock        
Noninterest expense        
Net income $ 1 $ 187 $ 16 $ 228
Preferred stock dividends $ 0 $ 21 $ 2 $ 47
Basic earnings per common share (in usd per share) $ 0.33 $ 0.27 $ 0.62 $ 0.30
Diluted earnings per common share (in usd per share) $ 0.33 $ 0.25 $ 0.62 $ 0.24