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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
INTEREST INCOME        
Interest and fees on loans $ 27,735 $ 22,624 $ 54,488 $ 43,611
Interest on securities available for sale:        
Taxable 914 1,037 1,840 2,219
Tax-exempt 128 128 249 267
Interest on loans held for sale 182 24 193 34
Interest on interest-earning deposits 76 39 163 82
Total interest income 29,035 23,852 56,933 46,213
INTEREST EXPENSE        
Interest on savings and interest-bearing deposit accounts 1,226 837 2,386 1,627
Interest on certificates of deposit 1,545 1,051 3,034 1,714
Interest on borrowed funds 573 428 1,052 820
Interest on capital lease obligation 120 126 242 254
Interest on subordinated debt 139 139
Subtotal - interest expense 3,603 2,442 6,853 4,415
Interest on interest-bearing demand - brokered 760 562 1,501 843
Interest on certificates of deposits - brokered 496 504 993 1,028
Total Interest expense 4,859 3,508 9,347 6,286
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES 24,176 20,344 47,586 39,927
Provision for loan losses 2,200 2,200 3,900 3,550
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 21,976 18,144 43,686 36,377
OTHER INCOME        
Wealth management fee income 4,899 4,532 9,194 8,563
Service charges and fees 818 837 1,625 1,642
Bank owned life insurance 345 248 687 785
Gain on loans held for sale at fair value (mortgage banking) 309 161 430 309
Gain on loans held for sale at lower of cost or fair value 500 624
Other income 559 545 1,032 638
Securities gains, net 18 176 119 444
Total other income 7,448 6,499 13,711 12,381
OPERATING EXPENSES        
Salaries and employee benefits 11,100 9,872 22,008 19,297
Premises and equipment 2,742 2,778 5,606 5,394
Other operating expense 4,933 3,616 10,367 7,343
Total noninterest expense 18,775 16,266 37,981 32,034
INCOME BEFORE INCOME TAX EXPENSE 10,649 8,377 19,416 16,724
Income tax expense 4,085 3,139 7,363 6,478
NET INCOME $ 6,564 $ 5,238 $ 12,053 $ 10,246
EARNINGS PER SHARE        
Basic (in dollars per share) $ 0.41 $ 0.34 $ 0.75 $ 0.68
Diluted (in dollars per share) $ 0.40 $ 0.34 $ 0.74 $ 0.67
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING        
Basic (in shares) 16,172,223 15,082,516 16,015,251 14,996,596
Diluted (in shares) 16,341,975 15,233,151 16,179,700 15,189,781