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CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income        
Interest and fees on loans $ 66,796 $ 51,699 $ 190,646 $ 148,218
Interest and dividends on investment securities:        
Taxable 1,916 2,154 7,431 6,191
Tax-exempt 897 785 3,105 2,377
Dividends 502 530 1,369 1,517
Interest on federal funds sold and other short-term investments 278 183 925 607
Total interest income 70,389 55,351 203,476 158,910
Interest expense        
Deposits 17,351 10,681 49,298 27,538
Borrowings and subordinated debentures 4,632 4,708 15,290 14,318
Total interest expense 21,983 15,389 64,588 41,856
Net interest income 48,406 39,962 138,888 117,054
Provision for loan losses 2,000 1,100 7,600 20,000
Net interest income after provision for loan losses 46,406 38,862 131,288 97,054
Noninterest income        
Income on bank owned life insurance [1] 915 751 2,570 2,300
Net gains on sale of loans held-for-sale [1] 278 2 343 31
Deposit, loan and other income 1,116 676 2,816 1,893
Net gains (losses) on equity securities 79 (157) 340 (325)
Net losses on sales of securities available-for-sale [1] (279) (280)
Total noninterest income 2,109 1,272 5,789 3,899
Noninterest expenses        
Salaries and employee benefits 12,420 10,174 36,168 29,575
Occupancy and equipment 2,480 2,137 7,332 6,311
FDIC insurance (364) 735 1,216 2,350
Professional and consulting 1,499 891 4,078 2,439
Marketing and advertising 473 192 1,080 736
Data processing 1,058 1,102 3,352 3,341
Merger expenses 191 375 8,084 399
Loss on extinguishment of debt 1,047
Amortization of core deposit intangibles 340 145 1,068 483
Other components of net periodic pension expense 29 7 86 21
Other expenses 2,253 2,372 6,520 6,474
Total noninterest expenses 20,379 18,130 70,031 52,129
Income before income tax expense 28,136 22,004 67,046 48,824
Income tax expense 6,440 2,102 14,434 7,144
Net income $ 21,696 $ 19,902 $ 52,612 $ 41,680
Earnings per common share:        
Basic $ 0.61 $ 0.62 $ 1.49 $ 1.30
Diluted $ 0.61 $ 0.61 $ 1.48 $ 1.29
[1] Not within scope of ASC 606.