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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Interest Income      
Loans receivable $ 91,569 $ 75,373 $ 62,435
Investment securities      
Taxable 10,039 8,721 9,344
Tax exempt 4,921 4,494 4,426
Total interest income 106,529 88,588 76,205
Interest Expense      
Deposits 6,616 5,559 5,257
Borrowed funds 11,807 6,286 5,956
Subordinated debentures 2,114 2,009 2,009
Total interest expense 20,537 13,854 13,222
Net Interest Income 85,992 74,734 62,983
Provision for loan losses 1,842 3,162 3,058
Net Interest Income after Provision for Loan Losses 84,150 71,572 59,925
Non-interest Income      
Service charges on deposit accounts 5,404 4,807 4,085
Wire transfer fees 806 633 557
Interchange fees 7,042 5,591 4,649
Fiduciary activities 6,621 5,637 4,738
Gain on sale of investment securities (includes $1,836, $189 and $988 for the years ended December 31, 2016, 2015 and 2014 related to accumulated other comprehensive earnings reclassifications) 1,836 189 988
Gain on sale of mortgage loans 11,675 10,055 8,395
Mortgage servicing income net of impairment 1,908 993 805
Increase in cash value of bank owned life insurance 1,643 1,249 1,047
Death benefit on bank owned life insurance   145  
Other income 1,039 1,103 1,013
Total non-interest income 37,974 30,402 26,277
Non-interest Expense      
Salaries and employee benefits 44,013 37,712 32,682
Net occupancy expenses 8,322 6,400 5,607
Data processing 5,367 4,251 3,663
Professional fees 2,752 2,070 1,731
Outside services and consultants 7,863 5,735 3,250
Loan expense 5,582 5,379 4,770
FDIC insurance expense 1,559 1,499 1,175
Other losses 684 432 (70)
Other expense 13,269 10,715 9,138
Total non-interest expense 89,411 74,193 61,946
Income Before Income Tax 32,713 27,781 24,256
Income tax expense (includes $643, $66 and $346 for the years ended December 31, 2016, 2015 and 2014 related to income tax expense from reclassification items) 8,801 7,232 6,155
Net Income 23,912 20,549 18,101
Preferred stock dividend (42) (125) (133)
Net Income Available to Common Shareholders $ 23,870 $ 20,424 $ 17,968
Basic Earnings Per Share [1] $ 1.19 $ 1.30 $ 1.32
Diluted Earnings Per Share [1] $ 1.19 $ 1.26 $ 1.27
[1] Adjusted for 3:2 stock split on November 14, 2016.