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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Interest Income      
Loans receivable $ 147,478 $ 112,329 $ 91,569
Investment securities      
Taxable 10,621 9,086 10,039
Tax exempt 8,069 7,068 4,921
Total interest income 166,168 128,483 106,529
Interest Expense      
Deposits 18,225 7,901 6,616
Borrowed funds 11,009 6,178 11,807
Subordinated debentures 2,365 2,304 2,114
Total interest expense 31,599 16,383 20,537
Net Interest Income 134,569 112,100 85,992
Provision for loan losses 2,906 2,470 1,842
Net Interest Income after Provision for Loan Losses 131,663 109,630 84,150
Non-interest Income      
Service charges on deposit accounts 7,762 6,383 5,762
Wire transfer fees 612 658 806
Interchange fees 5,715 5,104 4,165
Fiduciary activities 7,827 7,894 6,621
Gains (losses) on sale of investment securities (includes $(443), $38 and $1,836 for the years ended December 31, 2018, 2017 and 2016, respectively, related to accumulated other comprehensive earnings reclassificiations) (443) 38 1,836
Gain on sale of mortgage loans 6,613 7,906 11,675
Mortgage servicing income net of impairment 2,120 1,583 1,908
Increase in cash value of bank owned life insurance 1,912 1,797 1,643
Death benefit on bank owned life insurance 154    
Other income 2,141 1,773 1,039
Total non-interest income 34,413 33,136 35,455
Non-interest Expense      
Salaries and employee benefits 56,623 51,375 44,013
Net occupancy expenses 10,482 9,535 8,322
Data processing 6,816 5,914 5,367
Professional fees 1,926 2,490 2,752
Outside services and consultants 5,271 7,018 7,863
Loan expense 6,341 4,970 5,582
FDIC insurance expense 1,444 1,046 1,559
Other losses 665 368 684
Other expense 12,948 12,097 10,750
Total non-interest expense 102,516 94,813 86,892
Income Before Income Taxes 63,560 47,953 32,713
Income tax expense (includes $(93), $13 and $643 for the years ended December 31, 2018, 2017 and 2016, respectively, related to income tax expense (benefit) from reclassification items) 10,443 14,836 8,801
Net Income 53,117 33,117 23,912
Preferred stock dividend 0 0 (42)
Net Income Available to Common Shareholders $ 53,117 $ 33,117 $ 23,870
Basic Earnings Per Share $ 1.39 $ 0.96 $ 0.80
Diluted Earnings Per Share $ 1.38 $ 0.95 $ 0.79