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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income        
Interest and fees on loans $ 43,241 $ 37,803 $ 121,879 $ 109,381
Interest and dividends on securities:        
Taxable 1,695 1,774 5,042 5,879
Tax-exempt 870 988 2,655 2,867
Dividends 362 352 982 1,074
Interest on federal funds sold and other short-term investments 170 261 555 541
Total interest income 46,338 41,178 131,113 119,742
Interest expense        
Deposits 6,113 5,159 16,717 13,532
Borrowings 3,206 2,995 9,135 9,472
Total interest expense 9,319 8,154 25,852 23,004
Net interest income 37,019 33,024 105,261 96,738
Provision for loan losses 1,450 6,750 4,000 13,500
Net interest income after provision for loan losses 35,569 26,274 101,261 83,238
Noninterest income        
Annuities and insurance commissions 68 39 140
Income on bank owned life insurance 985 615 2,402 1,843
Net gains on sale of loans held-for-sale 50 56 120 147
Deposit, loan and other income 721 706 2,023 1,984
Net gains on sales of securities available-for-sale 4,131 1,596 4,234
Total noninterest income 1,756 5,576 6,180 8,348
Noninterest expenses        
Salaries and employee benefits 8,872 7,791 25,710 23,143
Occupancy and equipment 1,969 2,049 6,215 6,450
FDIC insurance 840 745 2,550 1,955
Professional and consulting 740 667 2,192 2,078
Marketing and advertising 225 293 770 817
Data processing 1,176 1,002 3,474 3,036
Amortization of core deposit intangible 169 193 555 627
Increase in valuation allowance, loans held-for-sale 3,000 15,325
Other expenses 1,650 1,811 5,402 5,150
Total noninterest expenses 18,641 14,551 62,193 43,256
Income before income tax expense 18,684 17,299 45,248 48,330
Income tax expense 5,607 5,443 12,608 15,224
Net income 13,077 11,856 32,640 33,106
Less: Preferred stock dividends 22
Net income available to common stockholders $ 13,077 $ 11,856 $ 32,640 $ 33,084
Earnings per common share:        
Basic $ 0.41 $ 0.39 $ 1.02 $ 1.1
Diluted 0.41 0.39 1.01 1.09
Dividends per common share $ 0.075 $ 0.075 $ 0.225 $ 0.225