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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Jun. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
INTEREST INCOME          
Loans $ 27,288 $ 27,581 $ 19,550 $ 79,382 $ 54,057
Investment securities and other interest-earning assets 1,812 2,158 1,484 5,527 4,230
Total interest income 29,100 29,739 21,034 84,909 58,287
INTEREST EXPENSE          
Deposits 1,719 1,589 1,317 4,914 3,589
FHLB advances and other borrowings 339 407 294 1,121 792
Subordinated debentures 993 982 403 2,946 553
Total interest expense 3,051 2,978 2,014 8,981 4,934
NET INTEREST INCOME BEFORE PROVISION FOR LOAN LOSSES 26,049 26,761 19,020 75,928 53,353
PROVISION FOR LOAN LOSSES 1,062 1,833 1,284 4,725 3,263
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 24,987 24,928 17,736 71,203 50,090
NONINTEREST INCOME          
Loan servicing fees 1,022 724 547 2,647 1,685
Deposit fees 629 634 412 1,845 1,329
Net gain from sales of loans 2,544 2,721 1,775 5,265 3,621
Net gain from sales of investment securities 38 139 363 293 523
Other income 792 494 1,370 1,713 1,832
Total noninterest income 5,025 4,712 4,467 11,763 8,990
NONINTEREST EXPENSE          
Compensation and benefits 9,418 9,486 7,490 28,426 20,866
Premises and occupancy 2,151 2,082 1,723 6,062 4,877
Data processing and communications 681 716 420 2,099 2,036
Other real estate owned operations, net 9 56 11 113 65
FDIC insurance premiums 355 363 257 1,032 760
Legal, audit and professional expense 505 661 625 1,687 1,603
Marketing expense 567 615 318 1,785 736
Office and postage expense 525 505 441 1,529 1,155
Loan expense 370 263 258 826 633
Deposit expense 917 982 747 2,704 2,255
Merger-related expense 400 0 0 4,392 626
Other Depreciation and Amortization 344 344 254 1,002 761
Other expense 1,132 1,141 799 3,400 2,152
Total noninterest expense 17,374 17,214 13,343 55,057 38,525
NET INCOME BEFORE INCOME TAX 12,638 12,426 8,860 27,909 20,555
INCOME TAX 4,801 4,601 3,410 10,459 7,830
NET INCOME $ 7,837 $ 7,825 $ 5,450 $ 17,450 $ 12,725
EARNINGS PER SHARE          
Basic (in dollars per share) $ 0.36 $ 0.36 $ 0.32 $ 0.83 $ 0.75
Diluted (in dollars per share) $ 0.36 $ 0.36 $ 0.31 $ 0.82 $ 0.73
WEIGHTED AVERAGE SHARES OUTSTANDING          
Basic (in shares) 21,510,678 21,493,641 17,069,216 21,037,345 17,078,945
Diluted (in shares) 21,866,840 21,828,876 17,342,882 21,342,204 17,385,835