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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Mar. 31, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
INTEREST INCOME          
Loans $ 27,581 $ 24,513 $ 17,922 $ 52,094 $ 34,507
Investment securities and other interest-earning assets 2,158 1,557 1,309 3,715 2,746
Total interest income 29,739 26,070 19,231 55,809 37,253
INTEREST EXPENSE          
Deposits 1,589 1,606 1,203 3,195 2,272
FHLB advances and other borrowings 407 375 255 782 498
Subordinated debentures 982 971 75 1,953 150
Total interest expense 2,978 2,952 1,533 5,930 2,920
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES 26,761 23,118 17,698 49,879 34,333
PROVISION FOR LOAN LOSSES 1,833 1,830 1,030 3,663 1,979
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 24,928 21,288 16,668 46,216 32,354
NONINTEREST INCOME          
Loan servicing fees 724 901 282 1,625 1,138
Deposit fees 634 582 463 1,216 917
Net gain from sales of loans 2,721 0 1,298 2,721 1,846
Net gain from sales of investment securities 139 116 98 255 160
Other income 494 427 330 921 462
Total noninterest income 4,712 2,026 2,471 6,738 4,523
NONINTEREST EXPENSE          
Compensation and benefits 9,486 9,522 6,485 19,008 13,376
Premises and occupancy 2,082 1,829 1,566 3,911 3,154
Data processing and communications 716 702 485 1,418 1,616
Other real estate owned operations, net 56 48 41 104 54
FDIC insurance premiums 363 314 266 677 503
Legal, audit and professional expense 661 521 385 1,182 978
Marketing expense 615 603 242 1,218 418
Office and postage expense 505 499 345 1,004 714
Loan expense 263 193 191 456 375
Deposit expense 982 805 747 1,787 1,508
Merger related expense 0 3,992 0 3,992 626
Other Depreciation and Amortization 344 314 254 658 507
Other expense 1,141 1,127 634 2,268 1,353
Total noninterest expense 17,214 20,469 11,641 37,683 25,182
NET INCOME BEFORE INCOME TAX 12,426 2,845 7,498 15,271 11,695
INCOME TAX 4,601 1,056 2,855 5,658 4,420
NET INCOME $ 7,825 $ 1,789 $ 4,643 $ 9,613 $ 7,275
EARNINGS PER SHARE          
Basic (in dollars per share) $ 0.36 $ 0.09 $ 0.28 $ 0.46 $ 0.43
Diluted (in dollars per share) $ 0.36 $ 0.09 $ 0.27 $ 0.46 $ 0.42
WEIGHTED AVERAGE SHARES OUTSTANDING          
Basic (in shares) 21,493,641 20,091,924 17,124,337 20,796,655 17,083,194
Diluted (in shares) 21,828,876 20,382,832 17,476,390 21,126,542 17,422,928