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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
INTEREST INCOME        
Interest and Fees on Loans $ 40,921 $ 28,148 $ 111,086 $ 78,406
Interest on Federal Funds Sold and Other Short-term Investments 163 101 389 211
Interest and Dividends on Securities:        
Taxable 3,400 2,970 10,554 8,930
Non-taxable 2,427 2,256 7,107 6,606
TOTAL INTEREST INCOME 46,911 33,475 129,136 94,153
INTEREST EXPENSE        
Interest on Deposits 6,399 3,535 17,574 8,666
Interest on FHLB Advances and Other Borrowings 1,934 1,392 5,752 3,860
TOTAL INTEREST EXPENSE 8,333 4,927 23,326 12,526
NET INTEREST INCOME 38,578 28,548 105,810 81,627
Provision for Loan Losses 2,800 500 3,725 2,070
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 35,778 28,048 102,085 79,557
NON-INTEREST INCOME        
Company Owned Life Insurance 364 251 1,552 823
Other Operating Income 1,029 639 2,361 2,156
Net Gains on Sales of Loans 1,649 866 3,660 2,421
Net Gains on Securities 313 90 984 434
TOTAL NON-INTEREST INCOME 12,056 8,963 34,223 27,337
NON-INTEREST EXPENSE        
Salaries and Employee Benefits 17,579 12,134 46,740 36,279
Occupancy Expense 2,797 1,967 7,367 5,522
Furniture and Equipment Expense 954 771 2,815 2,152
FDIC Premiums 0 324 533 799
Data Processing Fees 2,860 1,309 6,246 3,834
Professional Fees 1,324 793 3,825 3,025
Advertising and Promotion 1,054 851 2,860 2,409
Intangible Amortization 1,064 430 2,709 942
Other Operating Expenses 4,329 2,997 11,243 8,777
TOTAL NON-INTEREST EXPENSE 31,961 21,576 84,338 63,739
Income before Income Taxes 15,873 15,435 51,970 43,155
Income Tax Expense 2,809 2,796 8,568 7,606
NET INCOME $ 13,064 $ 12,639 $ 43,402 $ 35,549
Basic Earnings Per Share (USD per share) $ 0.49 $ 0.55 $ 1.70 $ 1.55
Diluted Earnings Per Share (USD per share) $ 0.49 $ 0.55 $ 1.70 $ 1.55
Trust and Investment Product Fees        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) $ 1,885 $ 1,585 $ 5,365 $ 5,035
Service Charges on Deposit Accounts        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) 2,395 1,858 6,319 4,972
Insurance Revenues        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) 1,883 1,827 7,017 6,453
Interchange Fee Income        
NON-INTEREST INCOME        
Non-interest Income (in-scope of Topic 606) $ 2,538 $ 1,847 $ 6,965 $ 5,043