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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Jun. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
INTEREST INCOME          
Loans $ 64,915 $ 63,554 $ 40,487 $ 170,905 $ 114,929
Investment securities and other interest-earning assets 5,246 5,179 1,942 13,416 5,879
Total interest income 70,161 68,733 42,429 184,321 120,808
INTEREST EXPENSE          
Deposits 3,557 3,081 2,136 8,774 6,215
FHLB advances and other borrowings 1,162 1,175 314 2,940 963
Subordinated debentures 1,151 1,139 970 3,275 2,859
Total interest expense 5,870 5,395 3,420 14,989 10,037
Net interest income before provision for loan losses 64,291 63,338 39,009 169,332 110,771
Provision for loan losses 2,049 1,904 4,013 6,455 6,722
Net interest income after provision for loan losses 62,242 61,434 34,996 162,877 104,049
NONINTEREST INCOME          
Loan servicing fees 276 143 288 641 769
Deposit fees 1,117 986 422 2,521 1,267
Net gain from sales of loans 3,439 2,887 3,122 9,137 7,152
Net gain from sales of investment securities 896 2,093 512 2,989 1,797
Net gain from other real estate owned 0 94 0 94 18
Other income 2,493 2,556 1,624 6,281 4,282
Total noninterest income 8,221 8,759 5,968 21,663 15,285
NONINTEREST EXPENSE          
Compensation and benefits 21,707 21,625 14,181 58,218 39,018
Premises and occupancy 4,016 3,733 2,576 10,202 7,306
Data processing 2,082 2,439 1,223 5,708 3,021
Other real estate owned operations, net 3 44 5 59 16
FDIC insurance premiums 379 818 442 1,652 1,225
Legal, audit and professional expense 1,978 1,281 737 4,177 2,149
Marketing expense 1,248 1,006 1,683 3,072 3,116
Office, telecommunications and postage expense 835 922 612 2,190 1,666
Loan expense 1,017 1,068 534 2,553 1,477
Deposit expense 1,655 1,663 1,315 4,762 3,516
Merger-related expense 503 10,117 0 15,566 3,616
CDI amortization 1,761 1,761 525 4,033 1,514
Other expense 2,428 2,019 2,027 5,663 5,565
Total noninterest expense 39,612 48,496 25,860 117,855 73,205
Net income before income taxes 30,851 21,697 15,104 66,685 46,129
Income tax 10,619 7,521 5,877 22,756 17,977
Net Income $ 20,232 $ 14,176 $ 9,227 $ 43,929 $ 28,152
EARNINGS PER SHARE          
Basic (in dollars per share) $ 0.51 $ 0.36 $ 0.34 $ 1.23 $ 1.05
Diluted (in dollars per share) $ 0.50 $ 0.35 $ 0.33 $ 1.20 $ 1.03
WEIGHTED AVERAGE SHARES OUTSTANDING          
Basic (in shares) 39,709,565 39,586,524 27,387,123 35,652,626 26,776,140
Diluted (in shares) 40,486,114 40,394,236 27,925,351 36,455,945 27,245,108