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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        
Interest and fees on loans $ 35,511 $ 28,225 $ 96,640 $ 82,713
Interest on securities available for sale:        
Taxable 1,564 976 4,545 2,816
Tax-exempt 117 128 353 377
Interest on loans held for sale 23 384 34 577
Interest on interest-earning deposits 276 131 716 294
Total interest income 37,491 29,844 102,288 86,777
INTEREST EXPENSE        
Interest on savings and interest-bearing deposit accounts 3,083 1,399 7,215 3,785
Interest on certificates of deposit 1,864 1,615 5,084 4,649
Interest on borrowed funds 439 380 1,096 1,432
Interest on capital lease obligation 112 119 341 361
Interest on subordinated debt 783 799 2,349 938
Subtotal - interest expense 6,281 4,312 16,085 11,165
Interest on interest-bearing demand - brokered 737 762 2,183 2,263
Interest on certificates of deposits - brokered 481 501 1,465 1,494
Total Interest expense 7,499 5,575 19,733 14,922
NET INTEREST INCOME BEFORE PROVISION FOR LOAN AND LEASE LOSSES 29,992 24,269 82,555 71,855
Provision for loan and lease losses 400 2,100 4,200 6,000
NET INTEREST INCOME AFTER PROVISION FOR LOAN AND LEASE LOSSES 29,592 22,169 78,355 65,855
OTHER INCOME        
Wealth management fee income 5,790 4,436 15,694 13,630
Service charges and fees 816 812 2,402 2,437
Bank owned life insurance 343 340 1,015 1,027
Gains on loans held for sale at fair value (mortgage banking) 141 383 279 813
Gains on loans held for sale at lower of cost or fair value 34 256 34 880
Fee income related to loan level, back-to-back swaps 888 670 2,635 764
Gain on sale of SBA loans 493 243 790 502
Other income 326 395 1,172 1,074
Securities gains, net   119
Total other income 8,831 7,535 24,021 21,246
OPERATING EXPENSES        
Compensation and employee benefits 13,996 11,515 38,660 33,523
Premises and equipment 2,945 2,736 8,794 8,342
FDIC insurance expense 583 814 1,871 3,954
Other operating expense 4,437 3,101 12,035 10,328
Total operating expenses 21,961 18,166 61,360 56,147
INCOME BEFORE INCOME TAX EXPENSE 16,462 11,538 41,016 30,954
Income tax expense 6,256 4,422 14,888 11,785
NET INCOME $ 10,206 $ 7,116 $ 26,128 $ 19,169
EARNINGS PER SHARE        
Basic $ 0.57 $ 0.43 $ 1.49 $ 1.19
Diluted $ 0.56 $ 0.43 $ 1.47 $ 1.17
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING        
Basic 17,800,153 16,467,654 17,478,293 16,167,153
Diluted 18,123,268 16,673,596 17,753,731 16,347,255