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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
INTEREST INCOME    
Interest and fees on loans $ 29,492 $ 26,753
Interest on securities available for sale:    
Taxable 1,504 926
Tax-exempt 121 121
Interest on loans held for sale 4 11
Interest on interest-earning deposits 264 87
Total interest income 31,385 27,898
INTEREST EXPENSE    
Interest on savings and interest-bearing deposit accounts 1,812 1,160
Interest on certificates of deposit 1,570 1,489
Interest on borrowed funds 303 479
Interest on capital lease obligation 115 122
Interest on subordinated debt 783  
Subtotal - interest expense 4,583 3,250
Interest on interest-bearing demand - brokered 720 741
Interest on certificates of deposits - brokered 491 497
Total Interest expense 5,794 4,488
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES 25,591 23,410
Provision for loan losses 1,600 1,700
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 23,991 21,710
OTHER INCOME    
Wealth management fee income 4,818 4,295
Service charges and fees 771 807
Bank owned life insurance 322 342
Gains on loans held for sale at fair value (mortgage banking) 47 121
Gains on multifamily loans held for sale at lower of cost or fair value   124
Fee income related to loan level, back-to-back swaps 456 94
Gain on sale of SBA loans 155 47
Other income 450 332
Securities gains, net 101
Total other income 7,019 6,263
OPERATING EXPENSES    
Compensation and employee benefits 11,913 10,908
Premises and equipment 2,816 2,864
FDIC insurance expense 686 1,559
Other operating expense 3,889 3,875
Total operating expenses 19,304 19,206
INCOME BEFORE INCOME TAX EXPENSE 11,706 8,767
Income tax expense 3,724 3,278
NET INCOME $ 7,982 $ 5,489
EARNINGS PER SHARE    
Basic (in dollars per share) $ 0.47 $ 0.35
Diluted (in dollars per share) $ 0.46 $ 0.34
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING    
Basic (in shares) 17,121,631 15,858,278
Diluted (in shares) 17,438,907 16,016,972