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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Acquisition-related costs $ 676 $ 1,005 $ 3,125 $ 1,005
INTEREST INCOME:        
Loans receivable 118,096 104,868 350,558 298,743
Mortgage-backed securities 9,415 8,915 29,716 25,145
Securities and cash equivalents 3,925 3,865 11,996 11,003
Total interest income 131,436 117,648 392,270 334,891
INTEREST EXPENSE:        
Deposits 10,014 5,517 27,680 13,139
FHLB advances 3,107 1,388 9,953 3,564
Other borrowings 82 60 209 179
Junior subordinated debentures 1,612 1,605 5,008 4,495
Total interest expense 14,815 8,570 42,850 21,377
Net interest income 116,621 109,078 349,420 313,514
PROVISION FOR LOAN LOSSES 2,000 2,000 6,000 6,000
Net interest income after provision for loan losses 114,621 107,078 343,420 307,514
NON-INTEREST INCOME:        
Deposit fees and other service charges 10,331 12,255 36,995 35,535
Bank-owned life insurance (BOLI) 1,076 1,726 3,475 3,511
Miscellaneous 2,914 569 5,431 4,995
Other operating income 20,937 20,366 61,868 59,365
Net (loss) gain on sale of securities (2) 0 (29) 48
Net change in valuation of financial instruments carried at fair value (69) 45 (172) 3,577
Total non-interest income 20,866 20,411 61,667 62,990
NON-INTEREST EXPENSE:        
Salary and employee benefits 59,090 48,930 169,359 150,491
Less capitalized loan origination costs (7,889) (4,318) (20,137) (13,062)
Occupancy and equipment 12,566 12,385 39,013 35,725
Information/computer data services 5,657 4,766 16,256 13,711
Payment and card processing expenses 4,330 3,748 12,355 11,179
Professional and legal expenses 2,704 3,010 7,474 11,276
Advertising and marketing 2,221 1,786 5,815 5,758
Deposit insurance (benefit) expense (1,604) 991 1,232 3,353
State/municipal business and use taxes 1,011 902 2,963 2,430
REO operations, net 126 433 263 553
Amortization of core deposit intangibles 1,985 1,348 6,090 4,112
Miscellaneous 6,435 6,646 20,230 19,444
Total non-interest expense 87,308 81,632 264,038 245,975
Noninterest Operating Expense, Before Acquisition Related Costs 86,632 80,627 260,913 244,970
Income before provision for income taxes 48,179 45,857 141,049 124,529
PROVISION FOR INCOME TAXES 8,602 8,084 28,426 25,542
NET INCOME $ 39,577 $ 37,773 $ 112,623 $ 98,987
Earnings per common share:        
Basic $ 1.15 $ 1.17 $ 3.24 $ 3.06
Diluted 1.15 1.17 3.23 3.05
Cumulative dividends declared per common share $ 0.41 $ 0.38 $ 1.23 $ 1.58
Weighted average number of common shares outstanding, Basic 34,407,462 32,256,789 34,760,607 32,300,688
Weighted average number of common shares outstanding, Diluted 34,497,994 32,376,623 34,850,006 32,406,414
Mortgage Banking [Member]        
NON-INTEREST INCOME:        
Mortgage banking operations $ 6,616 $ 5,816 $ 15,967 $ 15,324