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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Jun. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
INTEREST INCOME          
Loans $ 40,487 $ 39,035 $ 27,935 $ 114,929 $ 80,917
Investment securities and other interest-earning assets 1,942 1,839 1,812 5,879 5,527
Total interest income 42,429 40,874 29,747 120,808 86,444
INTEREST EXPENSE          
Deposits 2,136 2,010 1,719 6,215 4,914
FHLB advances and other borrowings 314 324 339 963 1,121
Subordinated debentures 970 979 993 2,859 2,946
Total interest expense 3,420 3,313 3,051 10,037 8,981
Net Interest Provision Before Provision for Loan Losses 39,009 37,561 26,696 110,771 77,463
Provision for loan losses 4,013 1,589 1,062 6,722 4,725
Net Interest Income After Provision For Loan Losses 34,996 35,972 25,634 104,049 72,738
NONINTEREST INCOME          
Loan servicing fees 288 257 248 769 156
Deposit fees 829 817 629 2,488 1,845
Net gain from sales of loans 3,122 2,124 2,544 7,152 5,265
Net gain from sales of investment securities 512 532 38 1,797 293
Other-than-temporary-impairment recovery/(loss) on investment securities 2 0 0 (205) 0
Other income 1,215 720 919 3,279 2,669
Total noninterest income 5,968 4,450 4,378 15,280 10,228
NONINTEREST EXPENSE          
Compensation and benefits 14,179 13,098 9,066 39,017 27,439
Premises and occupancy 2,633 2,559 2,120 7,550 5,980
Data processing and communications 1,223 887 681 3,021 2,099
Other real estate owned operations, net 5 (15) 9 (2) 113
FDIC insurance premiums 442 401 355 1,225 1,032
Legal, audit and professional expense 676 446 505 1,987 1,687
Marketing expense 1,591 775 567 2,996 1,785
Office and postage expense 612 573 525 1,666 1,529
Loan expense 534 540 370 1,477 826
Deposit expense 1,315 1,196 917 3,530 2,704
Merger-related expense 0 497 400 3,616 4,392
CDI amortization 525 645 344 1,514 1,002
Other expense 2,125 2,093 1,515 5,603 4,469
Total noninterest expense 25,860 23,695 17,374 73,200 55,057
Net Income Before Income Taxes 15,104 16,727 12,638 46,129 27,909
Income tax 5,877 6,358 4,801 17,977 10,459
Net Income $ 9,227 $ 10,369 $ 7,837 $ 28,152 $ 17,450
EARNINGS PER SHARE          
Basic (in dollars per share) $ 0.34 $ 0.38 $ 0.36 $ 1.05 $ 0.83
Diluted (in dollars per share) $ 0.33 $ 0.37 $ 0.36 $ 1.03 $ 0.82
WEIGHTED AVERAGE SHARES OUTSTANDING          
Basic (in shares) 27,387,123 27,378,930 21,510,678 26,776,140 21,037,345
Diluted (in shares) 27,925,351 27,845,490 21,866,840 27,245,108 21,342,204