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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest Income:        
Interest and fees on loans $ 22,870 $ 15,910 $ 64,176 $ 43,353
Interest and dividends on taxable investment securities 4,484 4,181 13,400 12,661
Interest on tax-exempt investment securities 800 470 2,202 1,332
Other interest income (expense) 24 5 125 (14)
Total interest income 28,178 20,566 79,903 57,332
Interest Expense:        
Interest on deposits 1,539 1,514 4,716 4,548
Interest on short-term borrowings 42 46 108 114
Interest on long-term borrowings 1,061 1,147 3,331 3,288
Total interest expense 2,642 2,707 8,155 7,950
Net interest income 25,536 17,859 71,748 49,382
Provision for (recovery of) loan losses 5,837 (380) 6,859 211
Net interest income after provision for (recovery of) loan losses 19,699 18,239 64,889 49,171
Other Income:        
Insurance income 3,275 3,169 10,870 10,728
Deposit account service charges 2,922 2,449 8,065 6,787
Trust and investment income 2,497 1,876 7,088 5,656
Electronic banking income 2,241 1,695 6,533 4,796
Mortgage banking income 212 334 927 872
Net gain on investment securities 62 124 673 160
Net loss on asset disposals and other transactions (51) (109) (1,290) (285)
Other non-interest income 759 338 1,857 1,036
Total other income 11,917 9,876 34,723 29,750
Other Expenses:        
Salaries and employee benefit costs 13,572 11,667 45,493 33,700
Net occupancy and equipment 2,840 2,267 8,273 5,822
Professional fees 1,287 1,451 5,542 3,625
Electronic banking expense 1,408 1,283 3,852 3,316
Amortization of other intangible assets 1,127 367 2,944 912
Data processing and software 910 673 2,670 1,798
Marketing expense 459 668 2,175 1,540
Communication expense 628 421 1,722 1,170
Franchise tax 502 388 1,552 1,215
FDIC insurance 562 331 1,516 878
Foreclosed real estate and other loan expenses 159 177 1,031 509
Other non-interest expense 2,658 2,514 11,034 6,543
Total other expenses 26,112 22,207 87,804 61,028
Income before income taxes 5,504 5,908 11,808 17,893
Income tax expense 1,370 1,729 3,450 5,454
Net income $ 4,134 $ 4,179 $ 8,358 $ 12,439
Earnings per common share - basic $ 0.23 $ 0.33 $ 0.48 $ 1.09
Earnings per common share - diluted $ 0.22 $ 0.32 $ 0.47 $ 1.08
Weighted-average number of common shares outstanding - basic 18,127,131 12,632,341 17,357,034 11,348,625
Weighted-average number of common shares outstanding - diluted 18,271,979 12,765,880 17,487,642 11,464,020
Cash dividends declared $ 2,759 $ 1,675 $ 7,789 $ 4,932
Cash dividends declared per common share $ 0.15 $ 0.15000 $ 0.45 $ 0.45000