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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
INTEREST INCOME:        
Loans receivable $ 51,078 $ 43,199 $ 97,443 $ 84,942
Mortgage-backed securities 1,275 1,446 2,302 2,917
Securities and cash equivalents 1,723 1,895 3,400 3,787
Total Interest Income 54,076 46,540 103,145 91,646
INTEREST EXPENSE:        
Deposits 1,768 1,910 3,501 3,874
FHLB advances 3 51 20 90
Other borrowings 48 45 91 89
Junior subordinated debentures 800 726 1,541 1,446
Total Interest Expense 2,619 2,732 5,153 5,499
Net interest income before provision for loan losses 51,457 43,808 97,992 86,147
PROVISION FOR LOAN LOSSES 0 0 0 0
Net interest income 51,457 43,808 97,992 86,147
OTHER OPERATING INCOME:        
Deposit fees and other service charges 9,563 7,346 17,689 13,947
Mortgage banking operations 4,703 2,600 8,812 4,440
Miscellaneous 1,106 821 2,027 1,632
Other operating income (loss) 15,372 10,767 28,528 20,019
Gain (loss) on sale of securities (28) 0 (537) 35
Net change in valuation of financial instruments carried at fair value 797 464 1,847 209
Acquisition bargain purchase gain 0 9,079 0 9,079
Total other operating income 16,141 20,310 29,838 29,342
OTHER OPERATING EXPENSES:        
Salary and employee benefits 26,744 22,330 51,031 43,486
Less capitalized loan origination costs (3,787) (3,282) (6,625) (5,477)
Occupancy and equipment 6,357 5,540 12,363 11,236
Information/computer data services 2,273 1,918 4,526 3,853
Payment and card processing expenses 3,742 2,746 6,758 5,261
Professional services 721 1,109 1,536 2,115
Advertising and marketing 2,198 1,370 3,808 2,425
Deposit insurance 625 637 1,192 1,213
State/municipal business and use taxes 455 388 908 547
REO operations 167 (109) 191 (70)
Amortization of core deposit intangibles 367 450 983 929
Miscellaneous 3,987 3,359 7,445 6,473
Other operating expense, before acquisition-related costs 43,849 36,456 84,116 71,991
Acquisition-related costs 3,885 1,979 5,533 2,024
Total other operating expenses 47,734 38,435 89,649 74,015
Income before provision for income taxes 19,864 25,683 38,181 41,474
PROVISION FOR INCOME TAXES 6,615 8,696 12,798 13,937
NET INCOME $ 13,249 $ 16,987 $ 25,383 $ 27,537
Earnings per common share:        
Basic (in dollars per share) $ 0.64 $ 0.88 $ 1.25 $ 1.42
Diluted (in dollars per share) 0.64 0.88 1.25 1.42
Cumulative dividends declared per common share (in dollars per share) $ 0.18 $ 0.18 $ 0.36 $ 0.36