XML 17 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest and dividend income        
Loans $ 24,661 $ 10,295 $ 70,081 $ 30,627
Securities and other 5,402 3,828 15,832 12,014
Total interest and dividend income 30,063 14,123 85,913 42,641
Interest expense        
Deposits 3,177 1,755 7,926 4,931
Borrowings 3,408 1,369 9,327 3,993
Total interest expense 6,585 3,124 17,253 8,924
Net interest income 23,478 10,999 68,660 33,717
Provision for loan losses 660 139 2,191 754
Net interest income after provision for loan losses 22,818 10,860 66,469 32,963
Non-interest income        
Trust and investment management fee income 3,040 975 9,228 2,878
Insurance and brokerage service income 329 0 1,020 0
Customer service fees 2,638 706 5,990 1,999
Gain on sales of securities, net 19 1,354 19 4,489
Bank-owned life insurance income 380 197 1,165 540
Other income 554 140 2,043 408
Total non-interest income 6,960 3,372 19,465 10,314
Non-interest expense        
Salaries and employee benefits 9,617 4,832 30,065 14,648
Occupancy and equipment 2,894 1,156 8,573 3,466
Loss on premises and equipment, net (1) 216 94 216
Outside services 907 181 2,220 430
Professional services 428 250 1,357 1,084
Communication 382 128 1,040 492
Amortization of intangible assets 189 1 534 25
Acquisition expenses 346 320 5,917 812
Other expenses 2,824 1,666 8,663 4,305
Total non-interest expense 17,586 8,750 58,463 25,478
Income before income taxes 12,192 5,482 27,471 17,799
Income tax expense 3,575 1,850 8,085 5,450
Net income $ 8,617 $ 3,632 $ 19,386 $ 12,349
Earnings per share:        
Basic (in dollars per share) $ 0.56 $ 0.40 $ 1.27 $ 1.37
Diluted (in dollars per share) $ 0.56 $ 0.40 $ 1.27 $ 1.35
Weighted average common shares outstanding:        
Basic (in shares) 15,420,499 9,063,576 15,098,377 9,036,548
Diluted (in shares) 15,510,525 9,161,688 15,204,038 9,137,557