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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income        
Interest and fees on loans $ 36,561 $ 30,217 $ 71,578 $ 59,531
Interest and dividends on investment securities:        
Taxable 1,965 2,760 4,105 5,671
Tax-exempt 996 883 1,879 1,765
Dividends 370 280 722 500
Interest on federal funds sold and other short-term investments 146 41 280 84
Total interest income 40,038 34,181 78,564 67,551
Interest expense        
Deposits 4,434 3,301 8,373 6,325
Borrowings 3,210 2,202 6,477 4,256
Total interest expense 7,644 5,503 14,850 10,581
Net interest income 32,394 28,678 63,714 56,970
Provision for loan and lease losses 3,750 1,550 6,750 3,375
Net interest income after provision for loan and lease losses 28,644 27,128 56,964 53,595
Noninterest income        
Annuities and insurance commissions 32 46 72 133
Bank-owned life insurance 616 388 1,228 774
Net gains on sale of loans held for sale 56 99 92 213
Deposit, loan and other income 763 458 1,277 921
Insurance recovery 2,224 2,224
Net gains on sales of investment securities 103 221 103 726
Total noninterest income 1,570 3,436 2,772 4,991
Noninterest expenses        
Salaries and employee benefits 7,753 6,948 15,353 13,575
Occupancy and equipment 2,154 1,788 4,401 3,869
FDIC insurance 615 440 1,210 1,000
Professional and consulting 700 715 1,412 1,209
Marketing and advertising 250 193 523 387
Data processing 1,010 829 2,033 1,729
Loss on extinguishment of debt 2,397 2,397
Amortization of core deposit intangible 217 241 434 483
Other expenses 1,653 1,423 3,339 2,955
Total noninterest expenses 14,352 14,974 28,705 27,604
Income before income tax expense 15,862 15,590 31,031 30,982
Income tax expense 5,003 5,069 9,781 10,081
Net income 10,859 10,521 21,250 20,901
Less: Preferred stock dividends 28 22 56
Net income available to common stockholders $ 10,859 $ 10,493 $ 21,228 $ 20,845
Earnings per common share:        
Basic $ 0.36 $ 0.35 $ 0.71 $ 0.70
Diluted $ 0.36 $ 0.35 $ 0.70 $ 0.69
Weighted average common shares outstanding:        
Basic 30,089,829 29,868,247 30,071,278 29,812,521
Diluted 30,340,376 30,231,480 30,331,172 30,203,682
Dividend per common share $ 0.075 $ 0.075 $ 0.15 $ 0.15