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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income:        
Loans secured by real estate $ 47,358 $ 43,473 $ 93,009 $ 85,261
Other loans 24 24 48 48
Mortgage backed securities 2 2 4 183
Investment securities 265 121 438 290
Federal funds sold and other short-term investments 721 578 1,382 1,228
Total interest income 48,370 44,198 94,881 87,010
Interest expense:        
Deposits and escrow 7,597 5,670 14,391 10,890
Borrowed funds 5,163 5,458 10,249 12,956
Total interest expense 12,760 11,128 24,640 23,846
Net interest income 35,610 33,070 70,241 63,164
Provision (credit) for loan losses 442 (1,135) 421 (1,307)
Net interest income after provision (credit) for loan losses 35,168 34,205 69,820 64,471
Non-interest income:        
Service charges and other fees 758 799 1,443 1,549
Net mortgage banking income 27 41 55 113
Net gain (loss) on securities and other assets 33 (25) 79 1,425
Net gain on the sale of premises held for sale (4) 0 68,183 0
Income from BOLI 1,043 611 1,603 1,216
Other 448 251 683 675
Total non-interest income 2,305 1,677 72,046 4,978
Non-interest expense:        
Salaries and employee benefits 8,686 8,600 17,516 14,499
Stock benefit plan amortization expense 846 940 1,724 1,882
Occupancy and equipment 3,115 2,490 5,742 5,434
Data processing costs 1,256 877 2,451 1,752
Federal deposit insurance premiums 581 576 1,320 1,127
Other 3,608 2,883 7,208 5,536
Total non-interest expense 18,092 16,366 35,961 30,230
Income before income taxes 19,381 19,516 105,905 39,219
Income tax expense 8,173 7,987 44,660 15,912
Net income $ 11,208 $ 11,529 $ 61,245 $ 23,307
Earnings per Share:        
Basic (in dollars per share) $ 0.30 $ 0.32 $ 1.67 $ 0.65
Diluted (in dollars per share) $ 0.30 $ 0.32 $ 1.67 $ 0.64