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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest income        
Interest and fees on loans $ 40,632 $ 36,561 $ 78,638 $ 71,578
Interest and dividends on securities:        
Taxable 1,799 1,965 3,347 4,105
Tax-exempt 831 996 1,785 1,879
Dividends 290 370 620 722
Interest on federal funds sold and other short-term investments 139 146 385 280
Total interest income 43,691 40,038 84,775 78,564
Interest expense        
Deposits 5,495 4,434 10,604 8,373
Borrowings 3,095 3,210 5,929 6,477
Total interest expense 8,590 7,644 16,533 14,850
Net interest income 35,101 32,394 68,242 63,714
Provision for loan losses 1,450 3,750 2,550 6,750
Net interest income after provision for loan losses 33,651 28,644 65,692 56,964
Noninterest income        
Annuities and insurance commissions 32 39 72
Income on bank owned life insurance 714 616 1,417 1,228
Net gains on sale of loans held-for-sale 49 56 70 92
Deposit, loan and other income 659 763 1,302 1,277
Net gains on sales of securities available-for-sale 103 1,596 103
Total noninterest income 1,422 1,570 4,424 2,772
Noninterest expenses        
Salaries and employee benefits 8,632 7,753 16,838 15,353
Occupancy and equipment 1,991 2,154 4,246 4,401
FDIC insurance 815 615 1,710 1,210
Professional and consulting 734 700 1,452 1,412
Marketing and advertising 289 250 545 523
Data processing 1,149 1,010 2,298 2,033
Amortization of core deposit intangible 193 217 386 434
Increase in valuation allowance, loans held-for-sale 9,725 12,325
Other expenses 1,775 1,653 3,752 3,339
Total noninterest expenses 25,303 14,352 43,552 28,705
Income before income tax expense 9,770 15,862 26,564 31,031
Income tax expense 2,087 5,003 7,001 9,781
Net income 7,683 10,859 19,563 21,250
Less: Preferred stock dividends 22
Net income available to common stockholders $ 7,683 $ 10,859 $ 19,563 $ 21,228
Earnings per common share:        
Basic $ 0.24 $ 0.36 $ 0.61 $ 0.71
Diluted 0.24 0.36 0.60 0.70
Dividends per common share $ 0.075 $ 0.075 $ 0.15 $ 0.15