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Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest income:        
Loans (including fee income) $ 29,951 $ 27,424 $ 87,128 $ 62,385
Mortgage-backed securities, CMOs and other asset-backed securities 2,840 2,842 10,337 7,877
U.S. GSE securities 342 358 994 1,144
State and municipal obligations 962 816 2,799 2,309
Corporate bonds 282 211 838 580
Deposits with banks 43 9 115 27
Other interest and dividend income 341 84 890 309
Total interest income 34,761 31,744 103,101 74,631
Interest expense:        
Savings, NOW and money market deposits 1,321 1,222 3,888 2,827
Certificates of deposit of $100,000 or more 227 280 558 687
Other time deposits 190 234 507 477
Federal funds purchased and repurchase agreements 301 82 779 320
Federal Home Loan Bank advances 562 374 2,233 963
Subordinated debentures 1,134 126 3,404 126
Junior subordinated debentures 342 341 1,026 1,024
Total interest expense 4,077 2,659 12,395 6,424
Net interest income 30,684 29,085 90,706 68,207
Provision for loan losses 2,000 1,500 4,150 3,000
Net interest income after provision for loan losses 28,684 27,585 86,556 65,207
Non interest income:        
Service charges on deposit accounts 980 977 3,113 2,693
Fees for other customer services 1,859 963 3,809 2,349
Net securities gains (losses)     449 (10)
Title fee income 438 425 1,352 1,380
Other operating income 757 1,561 3,575 2,845
Total non interest income 4,034 3,926 12,298 9,257
Non interest expense:        
Salaries and employee benefits 10,330 9,976 31,483 25,056
Occupancy and equipment 3,256 3,229 9,439 7,689
Technology and communications 1,235 950 3,638 2,563
Marketing and advertising 1,039 870 3,005 2,293
Professional services 768 611 2,815 1,697
FDIC assessments 446 472 1,491 1,091
Acquisition costs   904 (270) 9,283
Amortization of other intangible assets 462 677 1,810 770
Other operating expenses 1,668 1,684 5,141 4,275
Total non interest expense 19,204 19,373 58,552 54,717
Income before income taxes 13,514 12,138 40,302 19,747
Income tax expense 4,663 4,248 13,971 6,631
Net income $ 8,851 $ 7,890 $ 26,331 $ 13,116
Basic earnings per share (in dollars per share) $ 0.50 $ 0.45 $ 1.50 $ 0.94
Diluted earnings per share (in dollars per share) $ 0.50 $ 0.45 $ 1.50 $ 0.94