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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
INTEREST INCOME        
Interest and fees on loans $ 42,006 $ 37,250 $ 123,113 $ 109,019
Interest on investments:        
Taxable 2,477 2,385 7,800 6,382
Tax-exempt 73 98 257 306
Interest on loans held for sale 30 12 47 28
Interest on interest-earning deposits 1,362 418 3,897 1,170
Total interest income 45,948 40,163 135,114 116,905
INTEREST EXPENSE        
Interest on savings and interest-bearing deposit accounts 8,710 5,922 25,325 14,057
Interest on certificates of deposit 3,781 2,545 10,476 7,024
Interest on borrowed funds 886 1,038 2,558 2,563
Interest on finance lease liability 94 103 290 316
Interest on subordinated debt 1,224 1,223 3,671 3,665
Subtotal - interest expense 14,695 10,831 42,320 27,625
Interest on interest-bearing demand - brokered 901 796 2,476 2,280
Interest on certificates of deposits - brokered 267 394 958 1,222
Total interest expense 15,863 12,021 45,754 31,127
NET INTEREST INCOME BEFORE PROVISION FOR LOAN AND LEASE LOSSES 30,085 28,142 89,360 85,778
Provision for loan and lease losses 800 500 2,050 2,050
NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES 29,285 27,642 87,310 83,728
OTHER INCOME        
Wealth management fee income 9,501 8,200 28,243 24,693
Service charges and fees 882 860 2,595 2,564
Bank owned life insurance 332 349 996 1,030
Gains on loans held for sale at fair value (mortgage banking) 198 87 377 260
Loss on loans held for sale at lower of cost or fair value (6)   (6)  
Fee income related to loan level, back-to-back swaps 2,349 854 3,340 2,006
Gain on sale of SBA loans 224 514 1,216 1,359
Other income 902 444 2,248 1,465
Securities gains/(losses), net 34 (325) 162 (439)
Total other income 14,416 10,983 39,171 32,938
OPERATING EXPENSES        
Compensation and employee benefits 17,476 16,025 52,175 46,430
Premises and equipment 3,849 3,399 10,837 10,075
FDIC insurance (credit)/expense (277) 593 277 1,798
Other operating expense 5,211 4,267 14,858 14,259
Total operating expenses 26,259 24,284 78,147 72,562
INCOME BEFORE INCOME TAX EXPENSE 17,442 14,341 48,334 44,104
Income tax expense 5,216 3,617 13,133 10,663
NET INCOME $ 12,226 $ 10,724 $ 35,201 $ 33,441
EARNINGS PER SHARE        
Basic $ 0.63 $ 0.56 $ 1.82 $ 1.77
Diluted $ 0.63 $ 0.56 $ 1.81 $ 1.75
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING        
Basic 19,314,666 19,053,849 19,370,627 18,865,982
Diluted 19,484,905 19,240,098 19,496,721 19,066,986