XML 18 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Income - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Interest income      
Loans, including fees $ 104,106,000 $ 80,824,000 $ 52,924,000
Securities, taxable 5,918,000 6,417,000 4,134,000
Securities, tax-exempt 2,089,000 1,643,000 951,000
Other interest-bearing assets 215,000 234,000 233,000
Total interest income 112,328,000 89,118,000 58,242,000
Interest expense      
Deposits 7,590,000 8,378,000 8,912,000
Short-term borrowings 157,000 122,000 80,000
Federal Home Loan Bank advances 765,000 636,000 533,000
Subordinated debentures and other borrowings 2,642,000 2,204,000 1,261,000
Total interest expense 11,154,000 11,340,000 10,786,000
Net interest income 101,174,000 77,778,000 47,456,000
Provision for loan losses (1,000,000) (3,000,000) (7,200,000)
Net interest income after provision for loan losses 102,174,000 80,778,000 54,656,000
Noninterest income      
Service charges on deposit and sweep accounts 3,308,000 2,586,000 1,532,000
Credit and debit card fees 4,329,000 2,494,000 1,063,000
Mortgage banking activities 3,619,000 1,672,000 800,000
Earnings on bank owned life insurance 1,113,000 1,184,000 1,329,000
Payroll processing 969,000 782,000 660,000
Letter of credit fees 457,000 335,000 370,000
Rental income from other real estate owned 21,000 109,000 528,000
Other income 2,222,000 866,000 590,000
Total noninterest income 16,038,000 10,028,000 6,872,000
Noninterest expense      
Salaries and benefits 42,594,000 33,703,000 20,298,000
Occupancy 5,976,000 4,637,000 2,547,000
Furniture and equipment rent, depreciation and maintenance 2,332,000 1,738,000 984,000
Data processing 7,696,000 5,869,000 3,440,000
FDIC insurance costs 1,717,000 1,182,000 793,000
Advertising 1,363,000 1,315,000 1,113,000
Problem asset costs 1,212,000 585,000 595,000
Efficiency program-related costs 765,000 0 0
Merger-related costs 0 5,447,000 1,246,000
Other expense 15,726,000 11,134,000 5,387,000
Total noninterest expenses 79,381,000 65,610,000 36,403,000
Income before federal income tax expense 38,831,000 25,196,000 25,125,000
Federal income tax expense 11,811,000 7,865,000 8,092,000
Net income $ 27,020,000 $ 17,331,000 $ 17,033,000
Earnings per common share:      
Basic (in Dollars per share) $ 1.63 $ 1.28 $ 1.96
Diluted (in Dollars per share) $ 1.62 $ 1.28 $ 1.95