XML 74 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
INTEREST INCOME      
Loans $ 57,807 $ 49,659 $ 46,369
Other interest-earning assets 5,711 3,288 3,856
Total interest income 63,518 52,947 50,225
INTEREST EXPENSE      
Deposits 4,065 5,853 8,288
FHLB advances and other borrowings 984 970 998
Subordinated debentures 307 326 310
Total interest expense 5,356 7,149 9,596
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES 58,162 45,798 40,629
PROVISION FOR LOAN LOSSES 1,860 751 3,255
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 56,302 45,047 37,374
NONINTEREST INCOME      
Loan servicing fee income 1,192 941 1,060
Bank and other fee income 1,873 1,940 2,195
Net gain (loss) from loan sales 3,228 628 (3,605)
Net gain from investment securities 1,544 1,953 1,589
Other-than-temporary-impairment loss on investment securities (4) (159) (617)
Gain on FDIC transactions   5,340 4,189
Other income 1,260 1,929 1,702
Total noninterest income 9,093 12,572 6,513
NONINTEREST EXPENSE      
Compensation and benefits 23,018 16,281 13,205
Premises and occupancy 5,797 4,070 3,501
Data processing 3,080 2,366 1,419
OREO operations, net 618 1,653 1,497
FDIC insurance premiums 749 638 809
Legal and audit 1,863 2,134 1,438
Marketing expense 1,088 858 1,287
Office and postage expense 1,313 830 850
Loan related expense 1,009 912 699
Deposit related expense 1,818 188 553
Merger related expense 6,926    
Other expense 3,536 1,924 1,646
Total noninterest expense 50,815 31,854 26,904
INCOME BEFORE INCOME TAX 14,580 25,765 16,983
INCOME TAX 5,587 9,989 6,411
NET INCOME $ 8,993 $ 15,776 $ 10,572
EARNINGS PER SHARE      
Basic (in dollars per share) $ 0.57 $ 1.49 $ 1.05
Diluted (in dollars per share) $ 0.54 $ 1.44 $ 0.99
WEIGHTED AVERAGE SHARES OUTSTANDING      
Basic (in shares) 15,798,885 10,571,073 10,092,181
Diluted (in shares) 16,609,954 10,984,034 10,630,720