XML 14 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest Income        
Loans receivable $ 36,308 $ 26,795 $ 71,439 $ 51,586
Investment securities        
Taxable 2,563 2,244 4,993 4,650
Tax exempt 1,870 1,766 3,735 3,403
Total interest income 40,741 30,805 80,167 59,639
Interest Expense        
Deposits 3,920 1,721 6,791 3,474
Borrowed funds 2,679 1,338 5,251 2,275
Subordinated debentures 592 548 1,164 1,124
Total interest expense 7,191 3,607 13,206 6,873
Net Interest Income 33,550 27,198 66,961 52,766
Provision for loan losses 635 330 1,202 660
Net Interest Income after Provision for Loan Losses 32,915 26,868 65,759 52,106
Non-interest Income        
Wire transfer fees 180 178 330 328
Interchange fees 1,555 1,382 2,883 2,558
Gains on sale of investment securities (includes $0 and $(3) for the three months ended June 30, 2018 and 2017, respectively, and $11 and $32 for the six months ended June 30, 2018 and 2017, respectively, related to accumulated other comprehensive earnings reclassifications)   (3) 11 32
Gain on sale of mortgage loans 1,896 2,054 3,319 3,968
Mortgage servicing income net of impairment 511 359 860 806
Increase in cash value of bank owned life insurance 442 408 877 872
Death benefit on bank owned life insurance 154   154  
Other income 469 325 1,278 376
Total non-interest income 8,932 8,212 17,250 15,771
Non-interest Expense        
Salaries and employee benefits 13,809 12,466 28,182 24,175
Net occupancy expenses 2,520 2,196 5,486 4,648
Data processing 1,607 1,502 3,303 2,809
Professional fees 376 535 877 1,148
Outside services and consultants 1,267 1,265 2,531 2,487
Loan expense 1,525 1,250 2,782 2,357
FDIC insurance expense 345 243 655 506
Other losses 269 78 415 128
Other expense 3,224 2,953 6,548 5,751
Total non-interest expense 24,942 22,488 50,779 44,009
Income Before Income Taxes 16,905 12,592 32,230 23,868
Income tax expense (includes $0 and $(1) for the three months ended June 30, 2018 and 2017, respectively, and $2 and $11 for the six months ended June 30, 2018 and 2017, respectively, related to income tax expense from reclassification items) 2,790 3,520 5,311 6,572
Net Income $ 14,115 $ 9,072 $ 26,919 $ 17,296
Basic Earnings Per Share $ 0.37 $ 0.27 $ 0.70 $ 0.52
Diluted Earnings Per Share $ 0.37 $ 0.27 $ 0.70 $ 0.51
Deposit Account [Member]        
Non-interest Income        
Non-interest income $ 1,907 $ 1,566 $ 3,795 $ 2,966
Fiduciary Activities [Member]        
Non-interest Income        
Non-interest income $ 1,818 $ 1,943 $ 3,743 $ 3,865