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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 and fees on loans        
Taxable $ 38,630 $ 31,538 $ 110,044 $ 92,086
Tax exempt 205 110 517 332
Interest and dividends on securities        
Taxable 2,349 2,277 7,033 7,120
Tax exempt 1,309 969 3,745 2,811
Interest on short-term investments 96 185 198 295
Total interest income 42,589 35,079 121,537 102,644
Interest on deposits 7,037 5,032 18,722 13,921
Interest on borrowings        
Short-term 588 37 1,329 283
Long-term 344 291 986 866
Total interest expense 7,969 5,360 21,037 15,070
NET INTEREST INCOME 34,620 29,719 100,500 87,574
Provision for loan losses 450 0 1,150 0
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 34,170 29,719 99,350 87,574
NONINTEREST INCOME        
Wealth advisory fees 1,471 1,307 4,005 3,600
Investment brokerage fees 330 252 950 752
Service charges on deposit accounts 3,631 3,153 10,027 8,776
Loan and service fees 2,060 2,105 5,850 5,835
Merchant card fee income 588 552 1,696 1,576
Bank owned life insurance income 397 392 1,270 1,054
Other income 718 763 1,886 1,278
Mortgage banking income 302 494 811 1,205
Net securities gains 0 0 52 52
Total noninterest income 9,497 9,018 26,547 24,128
NONINTEREST EXPENSE        
Salaries and employee benefits 11,728 10,832 34,214 31,029
Net occupancy expense 1,131 1,068 3,405 3,205
Equipment costs 1,182 1,018 3,413 2,828
Data processing fees and supplies 2,032 1,983 6,022 6,135
Corporate and business development 1,245 1,021 3,943 2,641
FDIC insurance and other regulatory fees 443 458 1,296 1,538
Professional fees 962 819 2,717 2,505
Other expense 1,546 1,560 4,659 4,708
Total noninterest expense 20,269 18,759 59,669 54,589
INCOME BEFORE INCOME TAX EXPENSE 23,398 19,978 66,228 57,113
Income tax expense 7,573 6,498 20,525 18,551
NET INCOME $ 15,825 $ 13,480 $ 45,703 $ 38,562
BASIC WEIGHTED AVERAGE COMMON SHARES 25,193,894 25,069,434 25,176,593 25,044,596
BASIC EARNINGS PER COMMON SHARE $ 0.63 $ 0.54 $ 1.82 $ 1.54
DILUTED WEIGHTED AVERAGE COMMON SHARES 25,656,403 25,457,892 25,640,742 25,418,884
DILUTED EARNINGS PER COMMON SHARE $ 0.62 $ 0.53 $ 1.78 $ 1.52