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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest income        
Loans $ 40,300 $ 41,667 $ 120,500 $ 81,453
Investment securities 3,957 3,756 11,739 7,733
Federal funds sold and interest-earning deposits 47 38 142 90
Total interest income 44,304 45,461 132,381 89,276
Interest expense        
Deposits 3,097 2,374 9,059 5,690
Short-term borrowings 437 65 1,057 238
Long-term debt 1,465 1,510 4,457 3,571
Total interest expense 4,999 3,949 14,573 9,499
Net interest income 39,305 41,512 117,808 79,777
Provision for loan losses 1,576 816 3,531 2,570
Net interest income after provision for loan losses 37,729 40,696 114,277 77,207
Non-interest income        
Service charges and fees on deposit accounts 3,566 3,265 10,314 6,068
Government-guaranteed lending 3,009 2,072 9,559 6,533
Mortgage banking 1,731 1,520 4,686 2,368
Bank-owned life insurance 470 572 1,407 1,267
Gain (loss) on sales of available for sale securities 0 (96) 85 122
Gain on sale of branch 0 415 0 415
Other 2,022 1,313 4,386 2,582
Total non-interest income 10,798 9,061 30,437 19,355
Non-interest expense        
Salaries and employee benefits 14,528 16,800 45,121 34,555
Occupancy and equipment 4,641 4,856 14,077 10,066
Data processing 1,851 1,255 5,668 3,276
FDIC deposit insurance premiums 732 700 2,218 1,455
Professional services 1,196 1,153 3,695 2,512
Foreclosed asset expenses, net 277 129 910 542
Loan, collection, and repossession expense 931 1,192 2,717 2,226
Merger and conversion costs 104 17,270 299 20,547
Restructuring charges 50 180 3,251 1,109
Amortization of other intangible assets 761 845 2,353 1,296
Other 3,777 3,807 11,813 7,778
Total non-interest expense 28,848 48,187 92,122 85,362
Income before income taxes 19,679 1,570 52,592 11,200
Income tax expense 7,891 621 19,813 4,806
Net income 11,788 949 32,779 6,394
Dividends on preferred stock 0 630 822 630
Net income attributable to non-controlling interests 0 0 0 2,466
Net income available to common shareholders $ 11,788 $ 319 $ 31,957 $ 3,298
Net income per common share        
Basic (in dollars per share) $ 0.37 $ 0.01 $ 1.01 $ 0.20
Diluted (in dollars per share) $ 0.37 $ 0.01 $ 1.01 $ 0.20
Weighted average common shares outstanding        
Basic (in shares) 31,608,909 31,597,659 31,608,287 16,760,777
Diluted (in shares) 31,686,150 31,602,192 31,647,866 16,762,304