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Income Statement - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
INTEREST INCOME        
Loans $ 51,063 $ 44,824 $ 144,447 $ 131,734
Investment securities and other 1,919 1,544 5,361 4,791
TOTAL INTEREST INCOME 52,982 46,368 149,808 136,525
INTEREST EXPENSE        
Deposits 7,352 5,131 19,058 15,100
Federal Home Loan Bank advances 1,192 546 2,964 1,045
Short-term borrowings and repurchase agreements 177 118 385 662
Subordinated debentures issued to capital trusts 252 267 692 760
Subordinated notes 1,024 1,025 3,073 3,075
TOTAL INTEREST EXPENSE 9,997 7,087 26,172 20,642
NET INTEREST INCOME 42,985 39,281 123,636 115,883
Provision for Loan Losses 1,300 2,950 5,200 7,150
Net Interest Income After Provision for Loan Losses 41,685 36,331 118,436 108,733
NON-INTEREST INCOME        
Commissions 309 279 868 851
Service charges and ATM fees 5,458 5,533 16,191 16,195
Net realized gains on sales of loans 417 719 1,438 2,343
Late charges and fees on loans 466 436 1,240 1,922
Gain on sales of securities 2 0 2 0
Gain on derivative interest rate products 5 8 53 (5)
Gain on sale of business units 7,414 0 7,414 0
Other income 533 680 1,792 2,627
Gain (loss) on derivative interest rate products 5 8 53 (5)
Gain Realized on Termination of Loss Sharing Agreements     0 7,704
Amortization of Income Expense Related to Business Acquisitions     0 (486)
Gain on sale of business units 7,414 0 7,414 0
TOTAL NON-INTEREST INCOME 14,604 7,655 28,998 31,151
NON-INTEREST EXPENSE        
Salaries and employee benefits 15,162 14,664 44,731 44,495
Net occupancy and equipment expense 6,551 6,079 19,234 18,419
Postage 843 845 2,544 2,651
Insurance 682 755 2,002 2,300
Advertising 589 587 1,892 1,656
Office supplies and printing 255 279 789 1,208
Telephone 827 790 2,339 2,389
Legal, audit and other professional fees 875 610 2,373 1,991
Expense on Other Real Estate Owned 498 1,343 4,376 2,595
Partnership Tax Credit Investment Amortization 91 217 484 713
Acquired Deposit Intangible Asset Amortization 412 412 1,237 1,237
Other operating expenses 1,524 1,453 4,536 5,322
TOTAL NON-INTEREST EXPENSE 28,309 28,034 86,537 84,976
Income Before Income Taxes 27,980 15,952 60,897 54,908
Provision for Income Taxes 5,464 4,289 11,076 15,550
Net income $ 22,516 $ 11,663 $ 49,821 $ 39,358
Basic Earnings Per Share $ 1.59 $ 0.83 $ 3.53 $ 2.81
Diluted Earnings Per Share 1.57 0.82 3.49 2.77
Dividends Declared Per Share $ 0.32 $ 0.24 $ 0.88 $ 0.70