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Interim Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income:        
Loans $ 56,547 $ 49,752 $ 157,251 $ 139,748
Investment securities 5,264 5,476 16,315 12,531
Other 170 102 431 396
Total interest income 61,981 55,330 173,997 152,675
Interest expense:        
Deposits 6,020 5,362 17,510 13,380
Federal Home Loan Bank advances 3,405 1,605 8,174 4,486
Federal funds purchased and securities sold under agreements to repurchase 0 2 5 2
Long-term debt 1,520 1,440 4,513 2,574
Other 196 119 436 258
Total interest expense 11,141 8,528 30,638 20,700
Net interest income 50,840 46,802 143,359 131,975
Provision for credit losses 250 1,250 750 3,750
Net interest income after provision for credit losses 50,590 45,552 142,609 128,225
Noninterest income:        
Net gain on loan origination and sale activities 71,010 92,600 197,199 239,493
Loan servicing income 8,282 12,595 26,285 33,330
Income from WMS Series LLC 166 1,174 757 2,474
Depositor and other retail banking fees 1,839 1,744 5,306 4,991
Insurance agency commissions 535 441 1,432 1,205
Gain on sale of investment securities available for sale 331 48 888 145
Other 1,721 3,143 7,486 4,291
Total noninterest income 83,884 111,745 239,353 285,929
Noninterest expense:        
Salaries and related costs 75,374 79,164 223,072 221,615
General and administrative 16,147 14,949 49,147 47,210
Amortization of core deposit intangibles 470 579 1,477 1,636
Legal 352 639 662 1,687
Consulting 914 1,390 2,743 4,239
Federal Deposit Insurance Corporation assessments 791 919 2,312 2,419
Occupancy 12,391 7,740 29,480 22,408
Information services 8,760 7,876 24,580 23,857
Net (benefit) cost from operation and sale of other real estate owned (502) 1,143 (658) 1,712
Total noninterest expense 114,697 114,399 332,815 326,783
Income before income taxes 19,777 42,898 49,147 87,371
Income tax expense 5,938 15,197 15,116 31,514
NET INCOME $ 13,839 $ 27,701 $ 34,031 $ 55,857
Basic income per share (in dollars per share) $ 0.51 $ 1.12 $ 1.27 $ 2.29
Diluted income per share (in dollars per share) $ 0.51 $ 1.11 $ 1.26 $ 2.27
Basic weighted average number of shares outstanding (in shares) 26,883,392 24,811,169 26,857,006 24,398,683
Diluted weighted average number of shares outstanding (in shares) 27,089,040 24,996,747 27,077,032 24,595,348