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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Interest income:      
Loans secured by real estate $ 194,842 $ 204,487 $ 191,856
Commercial and industrial loans 9,741 3,072 41
Other loans 74 75 74
MBS 10,794 542 20
Investment securities 363 577 880
Other short-term investments 5,896 3,343 2,756
Total interest income 221,710 212,096 195,627
Interest expense:      
Deposits and escrow 50,389 38,391 32,374
Borrowed funds 24,995 20,975 19,767
Total interest expense 75,384 59,366 52,141
Net interest income 146,326 152,730 143,486
Provision for loan losses 2,244 520 2,118
Net interest income after provision for loan losses 144,082 152,210 141,368
Non-interest income:      
Service charges and other fees 4,642 3,828 3,429
Mortgage banking income, net 367 201 96
Net gain on sale of securities and other assets [1] 1,068 2,740 123
Gain on sale of loans 302 1,475 0
Gain on sale of premises held for sale 0 10,412 68,183
Income from BOLI 2,882 2,217 2,734
Other 262 641 1,369
Total non-interest income 9,523 21,514 75,934
Non-interest expense:      
Salaries and employee benefits 45,066 37,365 34,854
Stock benefit plan compensation expense 1,524 1,358 14,651
Occupancy and equipment 15,250 14,201 12,103
Data processing costs 7,009 8,280 5,194
Marketing 3,198 5,774 4,121
Federal deposit insurance premiums 1,969 2,966 2,515
Loss from extinguishment of debt 0 1,272 0
Other 12,874 13,770 10,393
Total non-interest expense 86,890 84,986 83,831
Income before income taxes 66,715 88,738 133,471
Periodic income tax expense 15,427 36,856 60,957
Net income $ 51,288 $ 51,882 $ 72,514
Earnings per Share:      
Basic (in dollars per share) $ 1.38 $ 1.38 $ 1.97
Diluted (in dollars per share) $ 1.38 $ 1.38 $ 1.97
[1] Amount includes periodic valuation gains or losses on marketable equity and trading securities.