XML 47 R4.htm IDEA: XBRL DOCUMENT v3.3.0.814
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest income:        
Loans, including fees $ 61,453,541 $ 47,510,761 $ 161,245,890 $ 136,296,125
Securities:        
Taxable 3,953,948 3,469,311 10,858,790 10,817,854
Tax-exempt 1,416,954 1,533,029 4,300,740 4,694,438
Federal funds sold and other 367,671 268,455 967,935 828,335
Total interest income 67,192,114 52,781,556 177,373,355 152,636,752
Interest expense:        
Deposits 3,587,048 2,435,426 8,610,266 7,512,428
Securities sold under agreements to repurchase 39,437 38,702 99,725 100,546
Federal Home Loan Bank advances and other borrowings 1,506,528 770,367 3,505,199 2,352,501
Total interest expense 5,133,013 3,244,495 12,215,190 9,965,475
Net interest income 62,059,101 49,537,061 165,158,165 142,671,277
Provision for loan losses 2,227,937 851,194 3,729,144 1,593,180
Net interest income after provision for loan losses 59,831,164 48,685,867 161,429,021 141,078,097
Noninterest income:        
Service charges on deposit accounts 3,258,058 2,912,617 9,246,262 8,669,229
Investment services 2,525,980 2,353,118 7,184,474 6,645,362
Insurance sales commissions 1,102,859 1,037,043 3,721,260 3,566,835
Gain on mortgage loans sold, net 1,894,731 1,352,976 5,488,096 4,256,451
Investment gains on sales, net 0 29,221 562,017 29,221
Trust fees 1,437,039 1,109,278 3,979,439 3,326,877
Income from equity method investment 5,285,000 0 12,752,456 0
Other noninterest income 5,906,747 4,094,200 16,988,490 11,724,284
Total noninterest income 21,410,414 12,888,453 59,922,494 38,218,259
Noninterest expense:        
Salaries and employee benefits 27,745,643 21,721,663 75,051,061 65,244,092
Equipment and occupancy 6,932,758 6,477,076 18,856,952 18,103,458
Other real estate expense, net (686,071) 417,197 (405,350) 1,294,355
Marketing and other business development 1,252,270 945,805 3,398,185 2,919,696
Postage and supplies 795,403 569,707 2,175,873 1,674,515
Amortization of intangibles 602,545 236,163 1,057,372 711,514
Merger related expenses 2,248,569 0 2,307,622 0
Other noninterest expense 6,215,863 3,991,944 16,243,612 11,959,708
Total noninterest expense 45,106,980 34,359,555 118,685,327 101,907,338
Income before income taxes 36,134,598 27,214,765 102,666,188 77,389,018
Income tax expense 11,985,846 9,017,943 34,010,894 25,655,089
Net income $ 24,148,752 $ 18,196,822 $ 68,655,294 $ 51,733,929
Per share information:        
Basic net income per common share (in dollars per share) $ 0.64 $ 0.52 $ 1.91 $ 1.49
Diluted net income per common share (in dollars per share) $ 0.62 $ 0.52 $ 1.86 $ 1.48
Weighted average shares outstanding:        
Basic (in shares) 37,828,329 34,762,206 36,009,659 34,688,064
Diluted (in shares) 38,792,787 35,155,224 36,944,171 35,069,764