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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest Income        
Interest and fees on loans $ 27,706 $ 19,342 $ 54,722 $ 37,426
Interest on U.S. government and sponsored enterprise obligations 4,016 3,717 8,006 7,589
Interest on state and political subdivision obligations 711 493 1,425 880
Interest on federal funds sold and other investments 342 105 603 210
Total interest income 32,775 23,657 64,756 46,105
Interest Expense        
Interest on deposits 2,109 1,544 4,151 3,073
Interest on borrowings 1,313 847 2,449 1,707
Interest on subordinated debentures 849 631 1,700 1,256
Total interest expense 4,271 3,022 8,300 6,036
Net interest income 28,504 20,635 56,456 40,069
Provision for credit losses 2,852 254 3,724 700
Net interest income after provision for credit losses 25,652 20,381 52,732 39,369
Non-Interest Income        
Service charges on deposit accounts 1,833 1,593 3,557 3,080
Other service charges and fees 2,331 1,584 4,659 3,094
Mortgage banking income, net 1,706 346 2,514 585
Income from fiduciary services 1,342 1,328 2,511 2,548
Bank-owned life insurance 892 402 1,314 824
Brokerage and insurance commissions 517 502 975 951
Net gain on sale of securities 4 0 4 0
Other income 1,927 555 2,935 1,375
Total non-interest income 10,552 6,310 18,469 12,457
Non-Interest Expense        
Salaries and employee benefits 11,999 8,484 23,590 16,859
Furniture, equipment and data processing 2,381 1,902 4,808 3,825
Net occupancy costs 1,790 1,239 3,667 2,711
Consulting and professional fees 982 673 1,867 1,264
Regulatory assessments 774 511 1,495 1,021
Other real estate owned and collection costs 496 449 1,152 1,011
Amortization of intangible assets 476 287 952 574
Merger and acquisition costs 177 128 821 863
Other expenses 3,255 2,484 6,887 4,830
Total non-interest expense 22,330 16,157 45,239 32,958
Income before income taxes 13,874 10,534 25,962 18,868
Income Taxes 4,258 3,341 7,700 6,064
Net Income $ 9,616 $ 7,193 $ 18,262 $ 12,804
Per Share Data        
Basic earnings per share $ 0.93 $ 0.97 $ 1.77 $ 1.72
Diluted earnings per share $ 0.92 $ 0.96 $ 1.76 $ 1.71
Weighted average number of common shares outstanding 10,276,876 7,446,156 10,268,440 7,438,626
Diluted weighted average number of common shares outstanding 10,327,374 7,467,365 10,315,245 7,459,464