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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Acquisition-related costs $ 301 $ 0 $ 2,449 $ 0
INTEREST INCOME:        
Loans receivable 117,007 99,853 232,462 193,875
Mortgage-backed securities 9,794 8,899 20,301 16,230
Securities and cash equivalents 4,037 3,671 8,071 7,138
Total interest income 130,838 112,423 260,834 217,243
INTEREST EXPENSE:        
Deposits 9,023 4,264 17,666 7,622
FHLB advances 3,370 1,499 6,846 2,177
Other borrowings 67 49 127 119
Junior subordinated debentures 1,683 1,548 3,396 2,889
Total interest expense 14,143 7,360 28,035 12,807
Net interest income 116,695 105,063 232,799 204,436
PROVISION FOR LOAN LOSSES 2,000 2,000 4,000 4,000
Net interest income after provision for loan losses 114,695 103,063 228,799 200,436
NON-INTEREST INCOME:        
Deposit fees and other service charges 14,046 11,985 26,664 23,281
Bank-owned life insurance (BOLI) 1,123 933 2,399 1,785
Miscellaneous 1,713 3,388 2,517 4,426
Other operating income 22,818 20,949 40,931 38,999
Net (loss) gain on sale of securities (28) 44 (27) 48
Net change in valuation of financial instruments carried at fair value (114) 224 (103) 3,532
Total non-interest income 22,676 21,217 40,801 42,579
NON-INTEREST EXPENSE:        
Salary and employee benefits 55,629 51,494 110,269 101,561
Less capitalized loan origination costs (7,399) (4,733) (12,248) (8,744)
Occupancy and equipment 12,681 11,574 26,447 23,340
Information/computer data services 5,273 4,564 10,599 8,945
Payment and card processing expenses 4,041 3,731 8,025 7,431
Professional and legal expenses 2,336 3,838 4,770 8,266
Advertising and marketing 2,065 2,141 3,594 3,971
Deposit insurance 1,418 1,021 2,836 2,362
State/municipal business and use taxes 1,007 816 1,952 1,529
REO operations, net 260 (319) 137 121
Amortization of core deposit intangibles 2,053 1,382 4,105 2,764
Miscellaneous 7,051 7,128 13,795 12,797
Total non-interest expense 86,716 82,637 176,730 164,343
Noninterest Operating Expense, Before Acquisition Related Costs 86,415 82,637 174,281 164,343
Income before provision for income taxes 50,655 41,643 92,870 78,672
PROVISION FOR INCOME TAXES 10,955 9,219 19,824 17,458
NET INCOME $ 39,700 $ 32,424 $ 73,046 $ 61,214
Earnings per common share:        
Basic $ 1.14 $ 1.01 $ 2.09 $ 1.89
Diluted 1.14 1.00 2.09 1.89
Cumulative dividends declared per common share $ 0.41 $ 0.85 $ 0.82 $ 1.20
Weighted average number of common shares outstanding, Basic 34,831,047 32,250,514 34,940,106 32,323,635
Weighted average number of common shares outstanding, Diluted 34,882,359 32,331,609 35,028,881 32,422,287
Mortgage Banking [Member]        
NON-INTEREST INCOME:        
Mortgage banking operations $ 5,936 $ 4,643 $ 9,351 $ 9,507