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Interim Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest income:        
Loans $ 51,198 $ 47,262 $ 100,704 $ 89,996
Investment securities 5,419 4,002 11,051 7,055
Other 125 27 261 294
Total interest income 56,742 51,291 112,016 97,345
Interest expense:        
Deposits 5,867 4,449 11,490 8,018
Federal Home Loan Bank advances 2,368 1,462 4,769 2,881
Federal funds purchased and securities sold under agreements to repurchase 5 0 5 0
Long-term debt 1,514 823 2,993 1,134
Other 120 75 240 139
Total interest expense 9,874 6,809 19,497 12,172
Net interest income 46,868 44,482 92,519 85,173
Provision for credit losses 500 1,100 500 2,500
Net interest income after provision for credit losses 46,368 43,382 92,019 82,673
Noninterest income:        
Net gain on loan origination and sale activities 65,908 85,630 126,189 146,893
Mortgage servicing income 8,764 12,703 18,003 20,735
Income from WMS Series LLC 406 1,164 591 1,300
Depositor and other retail banking fees 1,811 1,652 3,467 3,247
Insurance agency commissions 501 370 897 764
Gain on sale of investment securities available for sale 551 62 557 97
Other 3,067 895 5,765 1,148
Total noninterest income 81,008 102,476 155,469 174,184
Noninterest expense:        
Salaries and related costs 76,390 75,167 147,698 142,451
General and administrative 15,872 16,739 33,000 32,261
Amortization of core deposit intangibles 493 525 1,007 1,057
Legal 150 605 310 1,048
Consulting 771 1,177 1,829 2,849
Federal Deposit Insurance Corporation assessments 697 784 1,521 1,500
Occupancy 8,880 7,513 17,089 14,668
Information services 8,172 8,447 15,820 15,981
Net (benefit) cost from operation and sale of other real estate owned (181) 74 (156) 569
Total noninterest expense 111,244 111,031 218,118 212,384
Income before income taxes 16,132 34,827 29,370 44,473
Income tax expense 4,923 13,078 9,178 16,317
NET INCOME $ 11,209 $ 21,749 $ 20,192 $ 28,156
Basic income per share (in dollars per share) $ 0.42 $ 0.88 $ 0.75 $ 1.16
Diluted income per share (in dollars per share) $ 0.41 $ 0.87 $ 0.75 $ 1.15
Basic weighted average number of shares outstanding (in shares) 26,866,230 24,708,375 26,843,813 24,192,441
Diluted weighted average number of shares outstanding (in shares) 27,084,608 24,911,919 27,071,028 24,394,648