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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Interest Income      
Loans receivable $ 112,329 $ 91,569 $ 75,373
Investment securities      
Taxable 9,086 10,039 8,721
Tax exempt 7,068 4,921 4,494
Total interest income 128,483 106,529 88,588
Interest Expense      
Deposits 7,901 6,616 5,559
Borrowed funds 6,178 11,807 6,286
Subordinated debentures 2,304 2,114 2,009
Total interest expense 16,383 20,537 13,854
Net Interest Income 112,100 85,992 74,734
Provision for loan losses 2,470 1,842 3,162
Net Interest Income after Provision for Loan Losses 109,630 84,150 71,572
Non-interest Income      
Service charges on deposit accounts 6,383 5,762 4,807
Wire transfer fees 658 806 633
Interchange fees 5,104 4,165 3,623
Fiduciary activities 7,894 6,621 5,637
Gain on sale of investment securities (includes $38, $1,836 and $189 for the years ended December 31, 2017, 2016 and 2015 related to accumulated other comprehensive earnings reclassifications) 38 1,836 189
Gain on sale of mortgage loans 7,906 11,675 10,055
Mortgage servicing income net of impairment 1,583 1,908 993
Increase in cash value of bank owned life insurance 1,797 1,643 1,249
Death benefit on bank owned life insurance     145
Other income 1,773 1,039 1,103
Total non-interest income 33,136 35,455 28,434
Non-interest Expense      
Salaries and employee benefits 51,375 44,013 37,712
Net occupancy expenses 9,535 8,322 6,400
Data processing 5,914 5,367 4,251
Professional fees 2,490 2,752 2,070
Outside services and consultants 7,018 7,863 5,735
Loan expense 4,970 5,582 5,379
FDIC insurance expense 1,046 1,559 1,499
Other losses 368 684 432
Other expense 12,097 10,750 8,747
Total non-interest expense 94,813 86,892 72,225
Income Before Income Tax 47,953 32,713 27,781
Income tax expense (includes $13, $643 and $66 for the years ended December 31, 2017, 2016 and 2015 related to income tax expense from reclassification items) 14,836 8,801 7,232
Net Income 33,117 23,912 20,549
Preferred stock dividend   (42) (125)
Net Income Available to Common Shareholders $ 33,117 $ 23,870 $ 20,424
Basic Earnings Per Share [1] $ 1.44 $ 1.19 $ 1.30
Diluted Earnings Per Share [1] $ 1.43 $ 1.19 $ 1.26
[1] Adjusted for 3:2 stock split on November 14, 2016