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CONSOLIDATED CONDENSED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Loans receivable:        
Taxable $ 45,320 $ 42,323 $ 88,871 $ 84,348
Tax exempt 736 58 984 119
Investment securities:        
Taxable 4,425 5,046 9,148 9,856
Tax exempt 4,231 3,570 8,066 7,008
Deposits with financial institutions 31 35 68 58
Federal Reserve and Federal Home Loan Bank stock 459 495 1,009 1,147
Total Interest Income 55,202 51,527 108,146 102,536
INTEREST EXPENSE        
Deposits 3,686 2,874 7,202 5,423
Federal funds purchased 19 23 42 72
Securities sold under repurchase agreements 90 187 168 383
Federal Home Loan Bank advances 706 676 1,397 1,358
Subordinated debentures and term loans 1,670 1,648 3,330 3,289
Total Interest Expense 6,171 5,408 12,139 10,525
NET INTEREST INCOME 49,031 46,119 96,007 92,011
Provision for loan losses 417 0 417 0
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 48,614 46,119 95,590 92,011
OTHER INCOME        
Service charges on deposit accounts 4,090 4,098 7,638 7,649
Fiduciary activities 2,309 2,360 4,816 4,572
Other customer fees 4,602 4,049 8,269 7,782
Commission income 1,815 1,886 4,143 4,154
Earnings on cash surrender value of life insurance 640 653 1,387 1,401
Net gains and fees on sales of loans 1,781 1,159 3,270 1,882
Net realized gains (losses) on sales of available for sale securities (93) $ 844 932 $ 1,425
Gain on sale of insurance subsidiary 8,265   8,265  
Other income 1,224 $ 1,130 2,145 $ 2,748
Total Other Income 24,633 16,179 40,865 31,613
OTHER EXPENSES        
Salaries and employee benefits 26,434 23,430 50,975 48,731
Net occupancy 3,503 3,204 7,293 7,142
Equipment 2,840 2,096 5,406 4,835
Marketing 951 789 1,731 1,558
Outside data processing fees 1,768 2,039 3,485 3,870
Printing and office supplies 303 393 667 851
Core deposit amortization 729 592 1,450 1,184
FDIC assessments 895 863 1,758 1,923
Other real estate owned and foreclosure expenses 1,372 2,613 2,601 4,370
Professional and other outside services 3,134 1,531 4,625 2,910
Other expenses 4,494 3,700 7,634 6,965
Total Other Expenses 46,423 41,250 87,625 84,339
INCOME BEFORE INCOME TAX 26,824 21,048 48,830 39,285
Income tax expense 8,856 5,888 14,690 10,505
NET INCOME AVAILABLE TO COMMON STOCKHOLDERS $ 17,968 $ 15,160 $ 34,140 $ 28,780
Per Share Data:        
Basic Net Income Available to Common Stockholders (in dollars per share) $ 0.47 $ 0.42 $ 0.90 $ 0.80
Diluted Net Income Available to Common Stockholders (in dollars per share) 0.47 0.41 0.90 0.79
Cash Dividends Paid (in dollars per share) $ 0.11 $ 0.08 $ 0.19 $ 0.13
Average Diluted Shares Outstanding (in shares) 38,043,359 36,294,149 38,021,932 36,277,548