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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest income:        
Loans secured by real estate $ 47,486 $ 51,621 $ 144,889 $ 153,233
C&I loans 2,729 1,043 6,541 1,558
Other loans 18 19 55 55
MBS 2,852 27 7,515 55
Investment securities 59 108 123 462
Other short-term investments 1,480 811 4,537 2,139
Total interest income 54,624 53,629 163,660 157,502
Interest expense:        
Deposits and escrow 13,361 9,408 36,100 28,424
Borrowed funds 6,235 5,763 18,384 15,080
Total interest expense 19,596 15,171 54,484 43,504
Net interest income 35,028 38,458 109,176 113,998
Provision for loan losses 335 23 1,641 1,520
Net interest income after provision for loan losses 34,693 38,435 107,535 112,478
Non-interest income:        
Service charges and other fees 1,233 948 3,443 2,661
Net mortgage banking income 79 69 292 150
Net gain on sale of securities and other assets [1] 99 2,635 1,484 2,769
Gain on sale of loans 18 0 143 0
Income from BOLI 729 558 2,161 1,654
Other 63 73 179 574
Total non-interest income 2,221 4,283 7,702 7,808
Non-interest expense:        
Salaries and employee benefits 10,963 8,593 33,024 27,577
Stock benefit plan compensation expense 403 353 1,198 1,030
Occupancy and equipment 3,845 3,492 11,414 10,620
Data processing costs 1,823 3,392 5,374 6,502
Marketing 975 1,467 2,168 4,399
Federal deposit insurance premiums 382 875 1,521 2,242
Loss from extinguishment of debt 0 1,272 0 1,272
Other 3,194 2,731 9,446 8,771
Total non-interest expense 21,585 22,175 64,145 62,413
Income before income taxes 15,329 20,543 51,092 57,873
Income tax expense 3,547 7,230 12,244 21,414
Net income $ 11,782 $ 13,313 $ 38,848 $ 36,459
Earnings per Share:        
Basic (in dollars per share) $ 0.32 $ 0.36 $ 1.04 $ 0.97
Diluted (in dollars per share) $ 0.32 $ 0.35 $ 1.04 $ 0.97
[1] Amount includes periodic valuation gains or losses sales on of marketable equity and trading securities