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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
INTEREST INCOME        
Interest and Fees on Loans $ 35,046 $ 26,308 $ 70,165 $ 50,258
Interest on Federal Funds Sold and Other Short-term Investments 85 54 226 110
Interest and Dividends on Securities:        
Taxable 3,555 2,962 7,154 5,960
Non-taxable 2,350 2,209 4,680 4,350
TOTAL INTEREST INCOME 41,036 31,533 82,225 60,678
INTEREST EXPENSE        
Interest on Deposits 5,759 2,848 11,175 5,131
Interest on FHLB Advances and Other Borrowings 1,636 1,216 3,818 2,468
TOTAL INTEREST EXPENSE 7,395 4,064 14,993 7,599
NET INTEREST INCOME 33,641 27,469 67,232 53,079
Provision for Loan Losses 250 1,220 925 1,570
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 33,391 26,249 66,307 51,509
NON-INTEREST INCOME        
Company Owned Life Insurance 304 260 1,188 572
Other Operating Income 461 913 1,332 1,517
Net Gains on Sales of Loans 1,030 905 2,011 1,555
Net Gains on Securities 516 74 671 344
TOTAL NON-INTEREST INCOME 10,509 8,882 22,167 18,374
NON-INTEREST EXPENSE        
Salaries and Employee Benefits 14,117 12,019 29,161 24,145
Occupancy Expense 2,279 1,811 4,570 3,555
Furniture and Equipment Expense 933 716 1,861 1,381
FDIC Premiums 245 238 533 475
Data Processing Fees 1,803 1,398 3,386 2,525
Professional Fees 1,174 1,361 2,501 2,232
Advertising and Promotion 936 857 1,806 1,558
Intangible Amortization 802 306 1,645 512
Other Operating Expenses 3,329 3,002 6,914 5,780
TOTAL NON-INTEREST EXPENSE 25,618 21,708 52,377 42,163
Income before Income Taxes 18,282 13,423 36,097 27,720
Income Tax Expense 3,011 2,326 5,759 4,810
NET INCOME $ 15,271 $ 11,097 $ 30,338 $ 22,910
Basic Earnings Per Share (USD per share) $ 0.61 $ 0.48 $ 1.21 $ 1.00
Diluted Earnings Per Share (USD per share) $ 0.61 $ 0.48 $ 1.21 $ 1.00
Trust and Investment Product Fees        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) $ 1,913 $ 1,677 $ 3,480 $ 3,450
Service Charges on Deposit Accounts        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) 2,024 1,643 3,924 3,114
Insurance Revenues        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) 1,929 1,696 5,134 4,626
Interchange Fee Income        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) $ 2,332 $ 1,714 $ 4,427 $ 3,196