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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
INTEREST INCOME        
Interest and fees on loans $ 29,919 $ 29,863 $ 90,301 $ 88,257
Interest on investment securities:        
Taxable interest income 1,688 1,670 5,472 4,693
Tax-exempt interest income 435 455 1,312 1,375
Other, principally overnight investments 213 142 612 523
Total interest income 32,255 32,130 97,697 94,848
INTEREST EXPENSE        
Savings, checking and money market accounts 401 292 1,204 842
Time deposits of $100,000 or more 657 657 1,931 2,236
Other time deposits 196 308 725 977
Borrowings 647 487 1,750 1,099
Total interest expense 1,901 1,744 5,610 5,154
Net interest income 30,354 30,386 92,087 89,694
Provision for loan losses - non-covered 267 2,109 1,372
Provision (reversal) for loan losses - covered (1,681) (2,132) (2,109)
Total provision (reversal) for loan losses (1,414) (23) (737)
Net interest income after provision (reversal) for loan losses 30,354 31,800 92,110 90,431
NONINTEREST INCOME        
Service charges on deposit accounts 2,710 2,951 7,960 8,724
Other service charges, commissions and fees 2,996 2,778 8,869 8,091
Fees from presold mortgage loans 710 481 1,491 2,020
Commissions from sales of insurance and financial products 969 691 2,844 1,917
SBA consulting fees 1,178 1,898
SBA loan sale gains 694 694
Bank-owned life insurance income 514 382 1,526 1,136
Foreclosed property losses (266) (939) (189) (1,522)
FDIC indemnification asset expense, net (5,711) (2,865) (10,255) (7,085)
Securities (losses) gains (1) 3 (1)
Other gains (losses) 1,363 28 1,237 (241)
Total noninterest income 5,157 3,506 16,078 13,039
NONINTEREST EXPENSES        
Salaries 13,430 12,378 37,465 35,456
Employee benefits 2,608 2,221 7,892 6,702
Total personnel expense 16,038 14,599 45,357 42,158
Net occupancy expense 2,005 1,823 5,791 5,504
Equipment related expenses 904 900 2,693 2,805
Merger and acquisition expenses 600 1,286
Intangibles amortization 387 181 834 541
Other operating expenses 7,784 7,111 22,677 21,620
Total noninterest expenses 27,718 24,614 78,638 72,628
Income before income taxes 7,793 10,692 29,550 30,842
Income tax expense 3,115 3,687 10,396 10,605
Net income 4,678 7,005 19,154 20,237
Preferred stock dividends (58) (137) (175) (566)
Net income available to common shareholders $ 4,620 $ 6,868 $ 18,979 $ 19,671
Earnings per common share: Basic $ 0.23 $ 0.35 $ 0.95 $ 1.00
Earnings per common share: Diluted 0.23 0.34 0.93 0.97
Dividends declared per common share $ 0.08 $ 0.08 $ 0.24 $ 0.24
Weighted average common shares outstanding: Basic 20,007,518 19,781,789 19,904,226 19,760,807
Weighted average common shares outstanding: Diluted 20,785,689 20,512,959 20,697,125 20,491,973