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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Interest and fees on loans      
Taxable $ 181,451 $ 150,295 $ 124,830
Tax exempt 814 729 462
Interest and dividends on securities      
Taxable 9,717 9,218 9,421
Tax exempt 6,079 5,102 3,885
Interest on short-term investments 909 354 353
Total interest income 198,970 165,698 138,951
Interest on deposits 44,913 27,026 18,944
Interest on borrowings      
Short-term 1,143 1,446 352
Long-term 1,643 1,334 1,174
Total interest expense 47,699 29,806 20,470
NET INTEREST INCOME 151,271 135,892 118,481
Provision for loan losses 6,400 3,000 1,150
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 144,871 132,892 117,331
NONINTEREST INCOME      
Wealth advisory fees 6,344 5,481 [1] 4,805 [1]
Investment brokerage fees 1,458 1,273 [1] 1,010 [1]
Service charges on deposit accounts 15,831 13,696 12,013
Loan and service fees 9,291 7,900 7,681
Merchant and interchange fee income 2,461 2,279 [1] 2,098 [1]
Bank owned life insurance income [2] 1,244 1,768 [1] 1,392 [1]
Other income 2,381 2,598 [1] 2,213 [1]
Mortgage banking income [2] 1,150 982 [1] 1,586 [1]
Net securities gains (losses) [2] (50) 32 [1] 66 [1]
Total noninterest income 40,110 36,009 [1] 32,864 [1]
NONINTEREST EXPENSE      
Salaries and employee benefits 48,353 45,306 41,656
Net occupancy expense 5,149 4,595 4,266
Equipment costs 5,243 4,629 3,850
Data processing fees and supplies 9,685 8,233 8,148
Corporate and business development 5,066 4,744 3,328
FDIC insurance and other regulatory fees 1,701 1,798 2,001
Professional fees 3,798 3,574 3,208
Other expense 7,042 6,388 6,521
Total noninterest expense 86,037 79,267 72,978
INCOME BEFORE INCOME TAX EXPENSE 98,944 89,634 77,217
Income tax expense 18,533 32,304 25,133
NET INCOME $ 80,411 $ 57,330 $ 52,084
BASIC WEIGHTED AVERAGE COMMON SHARES 25,288,533 25,181,208 25,056,095
BASIC EARNINGS PER COMMON SHARE $ 3.18 $ 2.28 $ 2.08
DILUTED WEIGHTED AVERAGE COMMON SHARES 25,727,831 25,663,381 25,460,727
DILUTED EARNINGS PER COMMON SHARE $ 3.13 $ 2.23 $ 2.05
[1] The Company elected the modified retrospective approach of adoption; therefore, prior period balances are presented under legacy GAAP and may not be comparable to current year presentation. As a result of this new standard, the only revenue streams with changes in reporting in the current periods compared to the prior year comparable periods are loan and service fees and other income.
[2] Not within scope of ASC 606