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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest income:        
Loans secured by real estate $ 47,828 $ 51,137 $ 97,403 $ 101,612
C&I loans 2,156 474 3,812 515
Other loans 18 18 37 36
MBS 2,406 14 4,663 28
Investment securities 49 164 64 354
Other short-term investments 1,547 611 3,058 1,328
Total interest income 54,004 52,418 109,037 103,873
Interest expense:        
Deposits and escrow 11,988 9,509 22,739 19,016
Borrowed funds 5,882 4,856 12,149 9,317
Total interest expense 17,870 14,365 34,888 28,333
Net interest income 36,134 38,053 74,149 75,540
Provision for loan losses 1,113 1,047 1,306 1,497
Net interest income after provision for loan losses 35,021 37,006 72,843 74,043
Non-interest income:        
Service charges and other fees 1,299 919 2,210 1,713
Net mortgage banking income 102 65 213 81
Net gain on securities and other assets [1] 19 59 1,385 134
Gain on sale of loans 35 0 125 0
Income from BOLI 720 551 1,432 1,096
Other 62 153 116 501
Total non-interest income 2,237 1,747 5,481 3,525
Non-interest expense:        
Salaries and employee benefits 10,884 8,897 22,061 18,823
Stock benefit plan compensation expense 407 444 795 838
Occupancy and equipment 3,697 3,500 7,569 7,128
Data processing costs 1,797 1,503 3,551 3,110
Marketing 146 1,466 1,193 2,932
Federal deposit insurance premiums 474 712 1,139 1,367
Other 3,422 2,947 6,253 6,040
Total non-interest expense 20,827 19,469 42,561 40,238
Income before income taxes 16,431 19,284 35,763 37,330
Income tax expense 4,110 7,295 8,697 14,184
Net income $ 12,321 $ 11,989 $ 27,066 $ 23,146
Earnings per Share:        
Basic (in dollars per share) $ 0.33 $ 0.32 $ 0.72 $ 0.62
Diluted (in dollars per share) $ 0.33 $ 0.32 $ 0.72 $ 0.61
[1] Amount includes periodic valuation gains or losses on marketable equity and trading securities