XML 16 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest income        
Interest and fees on loans $ 49,494 $ 40,632 $ 96,519 $ 78,638
Interest and dividends on investment securities:        
Taxable 2,150 1,799 4,037 3,347
Tax-exempt 778 831 1,592 1,785
Dividends 502 290 987 620
Interest on federal funds sold and other short-term investments 160 139 424 385
Total interest income 53,084 43,691 103,559 84,775
Interest expense        
Deposits 9,169 5,495 16,857 10,604
Borrowings 4,970 3,095 9,610 5,929
Total interest expense 14,139 8,590 26,467 16,533
Net interest income 38,945 35,101 77,092 68,242
Provision for loan losses 1,100 1,450 18,900 2,550
Net interest income after provision for loan losses 37,845 33,651 58,192 65,692
Noninterest income        
Income on bank owned life insurance [1] 775 714 [2] 1,549 1,417 [2]
Net gains on sale of loans held-for-sale [1] 12 49 [2] 29 70 [2]
Deposit, loan and other income 601 659 1,217 1,341
Net gains on sales of securities available-for-sale [1] [2] 1,596 [2]
Total noninterest income 1,388 1,422 [1],[2] 2,795 4,424 [1],[2]
Noninterest expenses        
Salaries and employee benefits 9,729 8,569 19,401 16,713
Occupancy and equipment 2,031 1,991 4,174 4,246
FDIC insurance 765 815 1,615 1,710
Professional and consulting 825 734 1,548 1,452
Marketing and advertising 337 289 544 545
Data processing 1,091 1,149 2,239 2,298
Amortization of core deposit intangible 169 193 338 386
Other components of net periodic pension expense 7 63 14 125
Increase in valuation allowance, loans held-for-sale 9,725 12,325
Change in fair value of equity securities 47 168
Other expenses 2,107 1,775 4,126 3,752
Total noninterest expenses 17,108 25,303 34,167 43,552
Income before income tax expense 22,125 9,770 26,820 26,564
Income tax expense 4,598 2,087 5,042 7,001
Net income $ 17,527 $ 7,683 $ 21,778 $ 19,563
Earnings per common share:        
Basic $ 0.54 $ 0.24 $ 0.68 $ 0.61
Diluted 0.54 0.24 0.67 0.60
Dividends per common share $ 0.075 $ 0.075 $ 0.150 $ 0.150
[1] Not within scope of ASC 606.
[2] The Company elected the modified respective approach of adoption; therefore, prior period balances are presented under legacy GAAP and may not be comparable to current year presentation.