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Consolidated Statements of Income - Unaudited - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income:        
Loans receivable $ 67,107 $ 60,362 $ 195,605 $ 173,847
Loans held for sale 21,633 18,737 53,103 50,272
Investment securities 7,307 3,528 21,017 10,875
Other 2,238 1,585 5,507 3,937
Total interest income 98,285 84,212 275,232 238,931
Interest expense:        
Deposits 18,381 13,009 48,934 34,365
Other borrowings 3,168 1,642 6,767 4,867
FHLB advances 7,032 3,291 15,433 9,274
Subordinated debt 1,685 1,685 5,055 5,055
Total interest expense 30,266 19,627 76,189 53,561
Net interest income 68,019 64,585 199,043 185,370
Provision for loan losses 2,352 88 5,937 2,854
Net interest income after provision for loan losses 65,667 64,497 193,106 182,516
Non-interest income:        
Interchange and card revenue 9,570 11,547 31,729 13,806
Gain (loss) on sale of investment securities 5,349 (1) 8,532 25
Deposit fees 2,659 4,218 7,918 5,260
Mortgage warehouse transactional fees 2,396 3,080 7,139 8,702
Bank-owned life insurance 1,672 1,386 5,297 3,629
Gain on sale of SBA and other loans 1,144 1,206 3,045 2,135
Mortgage banking income 257 287 703 737
Impairment loss on investment securities (8,349) 0 (12,934) 0
Other 3,328 5,763 7,741 6,943
Total non-interest income 18,026 27,486 59,170 41,237
Non-interest expense:        
Salaries and employee benefits 24,807 22,681 69,569 58,051
Technology, communication and bank operations 14,401 12,525 33,227 19,021
Professional services 7,403 7,006 21,142 13,213
Occupancy 2,857 2,450 8,228 7,248
FDIC assessments, taxes, and regulatory fees 2,475 2,726 6,615 11,191
Provision for operating losses 1,509 1,406 4,901 1,943
Loan workout 915 592 1,844 1,497
Other real estate owned 445 1,192 550 1,663
Advertising and promotion 404 591 1,108 1,178
Acquisition related expenses 0 144 0 1,195
Other 5,824 4,905 13,634 12,106
Total non-interest expense 61,040 56,218 160,818 128,306
Income before income tax expense 22,653 35,765 91,458 95,447
Income tax expense 14,899 14,558 34,236 36,572
Net income 7,754 21,207 57,222 58,875
Preferred stock dividends 3,615 2,552 10,844 5,900
Net income (loss) available to common shareholders $ 4,139 $ 18,655 $ 46,378 $ 52,975
Basic earnings per common share (usd per share) $ 0.13 $ 0.68 $ 1.52 $ 1.95
Diluted earnings per common share (usd per share) $ 0.13 $ 0.63 $ 1.42 $ 1.80