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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest income        
Loans $ 40,404 $ 19,817 $ 80,200 $ 39,786
Investment securities 3,786 1,992 7,782 3,977
Federal funds sold and interest-earning deposits 45 26 95 52
Total interest income 44,235 21,835 88,077 43,815
Interest expense        
Deposits 3,073 1,657 5,962 3,316
Short-term borrowings 331 96 620 174
Long-term debt 1,504 1,029 2,992 2,060
Total interest expense 4,908 2,782 9,574 5,550
Net interest income 39,327 19,053 78,503 38,265
Provision for loan losses 994 464 1,955 1,754
Net interest income after provision for loan losses 38,333 18,589 76,548 36,511
Non-interest income        
Service charges and fees on deposit accounts 3,495 1,488 6,748 2,803
Government-guaranteed lending 3,677 2,120 6,550 4,461
Mortgage banking 1,633 530 2,955 848
Bank-owned life insurance 465 389 937 695
Gain on sales of available for sale securities 84 218 85 218
Other 1,446 519 2,364 1,269
Total non-interest income 10,800 5,264 19,639 10,294
Non-interest expense        
Salaries and employee benefits 15,391 8,657 30,593 17,755
Occupancy and equipment 4,637 2,547 9,436 5,210
Data processing 1,929 991 3,817 2,021
FDIC deposit insurance premiums 772 365 1,486 755
Professional services 1,407 674 2,499 1,359
Foreclosed asset expenses, net 445 150 633 413
Loan, collection, and repossession expense 850 353 1,786 1,034
Merger and conversion costs (25) 2,068 195 3,277
Restructuring charges 2,294 93 3,201 929
Amortization of other intangible assets 777 224 1,592 451
Other 3,839 2,017 8,036 3,971
Total non-interest expense 32,316 18,139 63,274 37,175
Income before income taxes 16,817 5,714 32,913 9,630
Income tax expense 6,076 2,504 11,922 4,185
Net income 10,741 3,210 20,991 5,445
Dividends on preferred stock 182 0 821 0
Net income attributable to non-controlling interests 0 1,476 0 2,466
Net income available to common shareholders $ 10,559 $ 1,734 $ 20,170 $ 2,979
Net income per common share        
Basic (in dollars per share) $ 0.33 $ 0.19 $ 0.64 $ 0.32
Diluted (in dollars per share) $ 0.33 $ 0.19 $ 0.64 $ 0.32
Weighted average common shares outstanding        
Basic (in shares) 31,609,021 9,219,406 31,607,971 9,219,406
Diluted (in shares) 31,610,620 9,219,406 31,609,785 9,219,406