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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
INTEREST INCOME        
Interest and fees on loans $ 30,809 $ 28,953 $ 60,382 $ 58,394
Interest on investment securities:        
Taxable interest income 1,961 1,664 3,784 3,023
Tax-exempt interest income 432 457 877 920
Other, principally overnight investments 177 186 399 381
Total interest income 33,379 31,260 65,442 62,718
INTEREST EXPENSE        
Savings, checking and money market accounts 409 281 803 550
Time deposits of $100,000 or more 622 732 1,274 1,579
Other time deposits 255 327 529 669
Borrowings 555 315 1,103 612
Total interest expense 1,841 1,655 3,709 3,410
Net interest income 31,538 29,605 61,733 59,308
Provision for loan losses - non-covered 489 1,001 2,109 1,105
Provision (reversal) for loan losses - covered (770) (160) (2,132) (428)
Total provision (reversal) for loan losses (281) 841 (23) 677
Net interest income after provision (reversal) for loan losses 31,819 28,764 61,756 58,631
NONINTEREST INCOME        
Service charges on deposit accounts 2,565 2,881 5,250 5,773
Other service charges, commissions and fees 3,043 2,771 5,873 5,313
Fees from presold mortgage loans 410 731 781 1,539
Commissions from sales of insurance and financial products 937 665 1,875 1,226
SBA consulting fees 720 720
Bank-owned life insurance income 504 383 1,012 754
Foreclosed property gains (losses) - non-covered (556) (580) (793) (1,075)
Foreclosed property gains (losses) - covered 423 254 870 492
FDIC indemnification asset income (expense), net (2,178) (1,828) (4,544) (4,220)
Securities gains 3
Other gains (losses) 51 (273) (126) (269)
Total noninterest income 5,919 5,004 10,921 9,533
NONINTEREST EXPENSES        
Salaries 12,560 11,581 24,035 23,078
Employee benefits 2,578 2,298 5,284 4,481
Total personnel expense 15,138 13,879 29,319 27,559
Net occupancy expense 1,843 1,812 3,786 3,681
Equipment related expenses 919 949 1,789 1,905
Merger and acquisition expenses 485 686
Intangibles amortization 261 180 447 360
Other operating expenses 7,501 7,480 14,893 14,509
Total noninterest expenses 26,147 24,300 50,920 48,014
Income before income taxes 11,591 9,468 21,757 20,150
Income tax expense 3,952 3,224 7,281 6,918
Net income 7,639 6,244 14,476 13,232
Preferred stock dividends (59) (212) (117) (429)
Net income available to common shareholders $ 7,580 $ 6,032 $ 14,359 $ 12,803
Earnings per common share: Basic $ 0.38 $ 0.3 $ 0.72 $ 0.65
Earnings per common share: Diluted 0.37 0.30 0.70 0.63
Dividends declared per common share $ 0.08 $ 0.08 $ 0.16 $ 0.16
Weighted average common shares outstanding: Basic 19,921,413 19,778,640 19,852,580 19,750,316
Weighted average common shares outstanding: Diluted 20,693,644 20,508,955 20,627,012 20,481,466