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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
INTEREST INCOME        
Loans $ 14,420 $ 12,847 $ 41,504 $ 36,182
Investment securities and other interest-earning assets 1,954 779 4,041 2,606
Total interest income 16,374 13,626 45,545 38,788
INTEREST EXPENSE        
Deposits 1,045 1,444 3,097 4,647
FHLB advances and other borrowings 244 247 722 717
Subordinated debentures 77 81 230 247
Total interest expense 1,366 1,772 4,049 5,611
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES 15,008 11,854 41,496 33,177
PROVISION FOR LOAN LOSSES 646 145 1,264 145
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 14,362 11,709 40,232 33,032
NONINTEREST INCOME        
Loan servicing fees 237 224 881 615
Deposit fees 485 486 1,382 1,459
Net gain (loss) from sales of loans 982 (41) 1,927 (31)
Net gain from sales of investment securities 305 857 1,373 1,031
Other-than-temporary impairment recovery (loss) on investment securities, net 16 (36) (19) (118)
Gain on FDIC transaction       5,340
Other income 296 420 932 1,082
Total noninterest income 2,321 1,910 6,476 9,378
NONINTEREST EXPENSE        
Compensation and benefits 5,948 4,367 16,732 11,834
Premises and occupancy 1,600 1,063 4,222 2,922
Data processing and communications 824 582 2,214 1,766
Other real estate owned operations, net (1) 244 610 981
FDIC insurance premiums 201 165 537 466
Legal, audit and professional expense 679 473 1,523 1,511
Marketing expense 307 225 777 704
Office and postage expense 375 232 960 612
Loan expense 282 219 714 632
Deposit expense 497 38 1,172 136
Merger related expense     6,723  
Other expense 1,059 423 2,622 1,313
Total noninterest expense 11,771 8,031 38,806 22,877
NET INCOME BEFORE INCOME TAX 4,912 5,588 7,902 19,533
INCOME TAX 1,846 2,126 3,113 7,568
NET INCOME $ 3,066 $ 3,462 $ 4,789 $ 11,965
EARNINGS PER SHARE        
Basic (in dollars per share) $ 0.19 $ 0.34 $ 0.31 $ 1.16
Diluted (in dollars per share) $ 0.18 $ 0.32 $ 0.29 $ 1.12
WEIGHTED AVERAGE SHARES OUTSTANDING        
Basic (in shares) 16,640,471 10,330,814 15,512,508 10,332,223
Diluted (in shares) 17,482,230 10,832,934 16,314,701 10,709,822