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Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest and dividend income        
Loans, including fees $ 60,454 $ 44,555 $ 179,308 $ 128,162
Securities 5,054 1,460 9,100 3,377
Dividends and other interest-earning assets 1,007 634 3,731 1,520
Total interest and dividend income 66,515 46,649 192,139 133,059
Interest expense        
Deposits 6,395 6,165 18,921 17,971
Federal Home Loan Bank advances 587 118 1,230 317
Long term debt and other interest-bearing liabilities 3,983 2,180 10,337 5,825
Total interest expense 10,965 8,463 30,488 24,113
Net interest income 55,550 38,186 161,651 108,946
Provision for loan and lease losses 735 2,780 6,209 6,817
Net interest income after provision for loan and lease losses 54,815 35,406 155,442 102,129
Noninterest income        
Customer service fees 1,118 230 3,100 839
Loan servicing (loss) income (2,254) 924 (689) 2,951
Income from bank owned life insurance 369 64 475 167
Net gain on sale of securities available for sale 1,750 0 1,748 522
Net gain on sale of loans 9,737 10,260 22,047 15,901
Net revenue on mortgage banking activities 37,015 26,943 114,351 70,400
Advisory service fees 2,294 3,264 7,926 6,182
Loan brokerage income 660 2,033 2,462 6,360
Gain on sale of building 0 0 9,919 0
Other income 38 380 2,061 1,426
Total noninterest income 50,727 44,098 163,400 104,748
Noninterest expense        
Salaries and employee benefits 53,215 41,094 159,106 114,905
Occupancy and equipment 10,109 7,969 30,205 23,931
Professional fees 5,261 4,758 15,385 12,151
Data processing 2,170 1,286 6,080 3,347
Advertising 1,335 1,584 3,499 3,369
Regulatory assessments 1,381 1,013 4,111 3,000
Loan servicing and foreclosure expense 246 292 841 642
Valuation allowance for other real estate owned 16 0 38 0
Net gain on sales of other real estate owned 0 0 (23) 0
Provision for loan repurchases 179 1,154 2,023 2,055
Amortization of intangible assets 1,401 890 4,490 2,773
Impairment on intangible assets 0 0 258 0
All other expense 6,430 7,314 19,529 19,079
Total noninterest expense 81,743 67,354 245,542 185,252
Income before income taxes 23,799 12,150 73,300 21,625
Income tax expense 9,263 903 30,266 1,530
Net income 14,536 11,247 43,034 20,095
Preferred stock dividends 3,040 910 6,793 2,730
Net income available to common stockholders $ 11,496 $ 10,337 $ 36,241 $ 17,365
Basic earnings per common share (in usd per share) $ 0.29 $ 0.31 $ 0.95 $ 0.64
Diluted earnings per common share (in usd per share) $ 0.29 $ 0.31 $ 0.93 $ 0.63
Class A Common Stock        
Noninterest expense        
Net income $ 14,536 $ 11,039 $ 43,018 $ 19,638
Preferred stock dividends $ 3,040 $ 893 $ 6,790 $ 2,668
Basic earnings per common share (in usd per share) $ 0.29 $ 0.31 $ 0.95 $ 0.64
Diluted earnings per common share (in usd per share) $ 0.29 $ 0.31 $ 0.93 $ 0.63
Class B Common Stock        
Noninterest expense        
Net income $ 0 $ 208 $ 16 $ 457
Preferred stock dividends $ 0 $ 17 $ 3 $ 62
Basic earnings per common share (in usd per share) $ 0.29 $ 0.31 $ 0.95 $ 0.64
Diluted earnings per common share (in usd per share) $ 0.29 $ 0.31 $ 0.95 $ 0.64