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Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited)

The following presents quarterly financial data for the years ended December 31, 2018 and 2017.

 

 

Year Ended December 31, 2018

 

 

 

Fourth

 

 

Third

 

 

Second

 

 

First

 

(Dollars in thousands)

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

Interest income

 

$

75,850

 

 

$

71,759

 

 

$

61,249

 

 

$

54,118

 

Interest expense

 

 

10,969

 

 

 

9,977

 

 

 

7,992

 

 

 

6,988

 

Net interest income

 

 

64,881

 

 

 

61,782

 

 

 

53,257

 

 

 

47,130

 

Provision for loan losses

 

 

1,910

 

 

 

6,803

 

 

 

4,906

 

 

 

2,548

 

Net interest income after provision

 

 

62,971

 

 

 

54,979

 

 

 

48,351

 

 

 

44,582

 

Gain on sale of subsidiary

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,071

 

Other noninterest income

 

 

6,794

 

 

 

6,059

 

 

 

4,945

 

 

 

4,101

 

Noninterest income

 

 

6,794

 

 

 

6,059

 

 

 

4,945

 

 

 

5,172

 

Noninterest expense

 

 

46,962

 

 

 

48,946

 

 

 

37,403

 

 

 

34,042

 

Net income before income taxes

 

 

22,803

 

 

 

12,092

 

 

 

15,893

 

 

 

15,712

 

Income tax expense

 

 

4,718

 

 

 

2,922

 

 

 

3,508

 

 

 

3,644

 

Net income

 

 

18,085

 

 

 

9,170

 

 

 

12,385

 

 

 

12,068

 

Dividends on preferred stock

 

 

—

 

 

 

(195

)

 

 

(193

)

 

 

(190

)

Net income available to common stockholders

 

$

18,085

 

 

$

8,975

 

 

$

12,192

 

 

$

11,878

 

Earnings per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.68

 

 

$

0.34

 

 

$

0.48

 

 

$

0.57

 

Diluted

 

$

0.67

 

 

$

0.34

 

 

$

0.47

 

 

$

0.56

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2017

 

 

 

Fourth

 

 

Third

 

 

Second

 

 

First

 

(Dollars in thousands)

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

Interest income

 

$

52,217

 

 

$

45,137

 

 

$

43,538

 

 

$

36,332

 

Interest expense

 

 

6,421

 

 

 

5,625

 

 

 

4,981

 

 

 

4,513

 

Net interest income

 

 

45,796

 

 

 

39,512

 

 

 

38,557

 

 

 

31,819

 

Provision for loan losses

 

 

1,931

 

 

 

572

 

 

 

1,447

 

 

 

7,678

 

Net interest income after provision

 

 

43,865

 

 

 

38,940

 

 

 

37,110

 

 

 

24,141

 

Gain on sale of subsidiary

 

 

—

 

 

 

—

 

 

 

—

 

 

 

20,860

 

Other noninterest income

 

 

3,998

 

 

 

4,171

 

 

 

5,202

 

 

 

6,425

 

Noninterest income

 

 

3,998

 

 

 

4,171

 

 

 

5,202

 

 

 

27,285

 

Noninterest expense

 

 

33,231

 

 

 

28,225

 

 

 

27,321

 

 

 

34,837

 

Net income before income taxes

 

 

14,632

 

 

 

14,886

 

 

 

14,991

 

 

 

16,589

 

Income tax expense

 

 

8,327

 

 

 

5,104

 

 

 

5,331

 

 

 

6,116

 

Net income

 

 

6,305

 

 

 

9,782

 

 

 

9,660

 

 

 

10,473

 

Dividends on preferred stock

 

 

(194

)

 

 

(195

)

 

 

(193

)

 

 

(192

)

Net income available to common stockholders

 

$

6,111

 

 

$

9,587

 

 

$

9,467

 

 

$

10,281

 

Earnings per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.29

 

 

$

0.48

 

 

$

0.53

 

 

$

0.57

 

Diluted

 

$

0.29

 

 

$

0.47

 

 

$

0.51

 

 

$

0.55