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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest and dividend income:        
Loans, including fees $ 41,257 $ 30,863 $ 116,288 $ 86,711
Factored receivables, including fees 27,939 12,198 64,033 32,177
Securities 1,551 1,655 4,040 5,004
FHLB stock 147 51 353 129
Cash deposits 865 370 2,412 986
Total interest income 71,759 45,137 187,126 125,007
Interest expense:        
Deposits 6,219 3,272 15,127 9,198
Subordinated notes 837 837 2,512 2,508
Junior subordinated debentures 714 495 2,024 1,435
Other borrowings 2,207 1,021 5,294 1,978
Total interest expense 9,977 5,625 24,957 15,119
Net interest income 61,782 39,512 162,169 109,888
Provision for loan losses 6,803 572 14,257 9,697
Net interest income after provision for loan losses 54,979 38,940 147,912 100,191
Noninterest income:        
Net OREO gains (losses) and valuation adjustments 65 15 (551) (86)
Net gains (losses) on sale of securities   35 (272) 35
Insurance commissions 1,113 826 2,646 2,125
Gain on sale of subsidiary or division     1,071 20,860
Other (1) 668 1,486 4,459
Total noninterest income 6,059 4,171 16,176 36,658
Noninterest expense:        
Salaries and employee benefits 24,695 16,717 64,626 54,687
Occupancy, furniture and equipment 3,553 2,398 9,621 7,105
FDIC insurance and other regulatory assessments 363 294 945 790
Professional fees 3,384 1,465 7,102 4,671
Amortization of intangible assets 2,064 870 4,542 2,892
Advertising and promotion 1,609 804 3,938 2,653
Communications and technology 7,252 2,145 13,882 6,552
Other 6,026 3,532 15,735 11,033
Total noninterest expense 48,946 28,225 120,391 90,383
Net income before income tax 12,092 14,886 43,697 46,466
Income tax expense 2,922 5,104 10,074 16,551
Net income 9,170 9,782 33,623 29,915
Dividends on preferred stock (195) (195) (578) (580)
Net income available to common stockholders $ 8,975 $ 9,587 $ 33,045 $ 29,335
Earnings per common share        
Basic $ 0.34 $ 0.48 $ 1.37 $ 1.58
Diluted $ 0.34 $ 0.47 $ 1.35 $ 1.53
Service charges on deposits        
Noninterest income:        
Revenue $ 1,412 $ 1,046 $ 3,767 $ 3,003
Card income        
Noninterest income:        
Revenue 1,877 956 4,515 2,700
Fee income        
Noninterest income:        
Revenue $ 1,593 $ 625 $ 3,514 1,845
Asset management fees        
Noninterest income:        
Revenue       $ 1,717