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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income:        
Loans secured by real estate $ 51,621 $ 48,090 $ 153,233 $ 141,099
C&I loans 1,043 10 1,558 20
Other loans 19 18 55 56
MBS 27 2 55 6
Investment securities 108 129 462 567
Other short-term investments 811 707 2,139 2,089
Total interest income 53,629 48,956 157,502 143,837
Interest expense:        
Deposits and escrow 9,408 8,635 28,424 23,026
Borrowed funds 5,763 4,974 15,080 15,223
Total interest expense 15,171 13,609 43,504 38,249
Net interest income 38,458 35,347 113,998 105,588
Provision for loan losses 23 1,168 1,520 1,589
Net interest income after provision for loan losses 38,435 34,179 112,478 103,999
Non-interest income:        
Service charges and other fees 948 1,123 2,661 2,566
Net mortgage banking income 69 16 150 71
Net gain on securities and other assets 2,635 69 2,769 148
Net gain on the sale of premises held for sale 0 0 0 68,183
Income from BOLI 558 570 1,654 2,173
Other 73 293 574 976
Total non-interest income 4,283 2,071 7,808 74,117
Non-interest expense:        
Salaries and employee benefits 8,593 8,616 27,577 26,132
Employee Stock Option Plan ("ESOP") & restricted stock award ("RSA") benefit expense 353 815 1,030 2,539
Occupancy and equipment 3,492 3,250 10,620 8,992
Data processing costs 3,392 1,284 6,502 3,735
Marketing 1,467 922 4,399 3,278
Federal deposit insurance premiums 875 613 2,242 1,933
Loss from extinguishment of debt 1,272 0 1,272 0
Other 2,731 2,732 8,771 7,584
Total non-interest expense 22,175 18,232 62,413 54,193
Income before income taxes 20,543 18,018 57,873 123,923
Income tax expense 7,230 7,481 21,414 52,141
Net income $ 13,313 $ 10,537 $ 36,459 $ 71,782
Earnings per Share:        
Basic (in dollars per share) $ 0.36 $ 0.29 $ 0.97 $ 1.95
Diluted (in dollars per share) $ 0.35 $ 0.29 $ 0.97 $ 1.95