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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest and dividend income:        
Loans, including fees $ 38,148 $ 30,663 $ 75,031 $ 55,848
Factored receivables, including fees 20,791 10,812 36,094 19,979
Securities 1,179 1,738 2,489 3,349
FHLB stock 101 36 206 78
Cash deposits 1,030 289 1,547 616
Total interest income 61,249 43,538 115,367 79,870
Interest expense:        
Deposits 4,631 3,057 8,908 5,926
Subordinated notes 838 836 1,675 1,671
Junior subordinated debentures 713 475 1,310 940
Other borrowings 1,810 613 3,087 957
Total interest expense 7,992 4,981 14,980 9,494
Net interest income 53,257 38,557 100,387 70,376
Provision for loan losses 4,906 1,447 7,454 9,125
Net interest income after provision for loan losses 48,351 37,110 92,933 61,251
Noninterest income:        
Service charges on deposits 1,210 977 2,355 1,957
Card income 1,394 917 2,638 1,744
Net OREO gains (losses) and valuation adjustments (528) (112) (616) (101)
Net gains (losses) on sale of securities     (272)  
Fee income 1,121 637 1,921 1,220
Insurance commissions 819 708 1,533 1,299
Asset management fees       1,717
Gain on sale of subsidiary or division or division     1,071 20,860
Other 929 2,075 1,487 3,791
Total noninterest income 4,945 5,202 10,117 32,487
Noninterest expense:        
Salaries and employee benefits 20,527 16,012 39,931 37,970
Occupancy, furniture and equipment 3,014 2,348 6,068 4,707
FDIC insurance and other regulatory assessments 383 270 582 496
Professional fees 2,078 1,238 3,718 3,206
Amortization of intangible assets 1,361 911 2,478 2,022
Advertising and promotion 1,300 911 2,329 1,849
Communications and technology 3,271 2,233 6,630 4,407
Other 5,469 3,398 9,709 7,501
Total noninterest expense 37,403 27,321 71,445 62,158
Net income before income tax 15,893 14,991 31,605 31,580
Income tax expense 3,508 5,331 7,152 11,447
Net income 12,385 9,660 24,453 20,133
Dividends on preferred stock (193) (193) (383) (385)
Net income available to common stockholders $ 12,192 $ 9,467 $ 24,070 $ 19,748
Earnings per common share        
Basic $ 0.48 $ 0.53 $ 1.04 $ 1.10
Diluted $ 0.47 $ 0.51 $ 1.02 $ 1.07