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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income        
Loans $ 64,345 $ 40,404 $ 112,316 $ 80,200
Investment securities 7,231 3,786 13,344 7,782
Federal funds sold and interest-earning deposits 81 45 184 95
Total interest income 71,657 44,235 125,844 88,077
Interest expense        
Deposits 4,433 3,073 7,980 5,962
Short-term borrowings 1,360 331 2,166 620
Long-term debt 2,375 1,504 4,244 2,992
Total interest expense 8,168 4,908 14,390 9,574
Net interest income 63,489 39,327 111,454 78,503
Provision for loan losses 2,298 994 4,173 1,955
Net interest income after provision for loan losses 61,191 38,333 107,281 76,548
Non-interest income        
Service charges and fees on deposit accounts 5,795 3,495 10,007 6,748
Government-guaranteed lending 2,680 3,677 5,752 6,550
Mortgage banking 3,850 1,633 5,473 2,955
Bank-owned life insurance 733 465 1,285 937
Gain on sales of available for sale securities 64 84 194 85
Gain on sale of trust business 417 0 417 0
Other 2,098 1,446 3,863 2,364
Total non-interest income 15,637 10,800 26,991 19,639
Non-interest expense        
Salaries and employee benefits 22,939 15,391 40,979 30,593
Occupancy and equipment 7,315 4,637 12,850 9,436
Data processing 2,783 1,929 4,923 3,817
FDIC deposit insurance premiums 770 772 1,591 1,486
Professional services 1,547 1,407 2,655 2,499
Foreclosed asset expenses, net 137 445 448 633
Loan, collection, and repossession expense 1,004 850 2,144 1,786
Merger and conversion costs 6,531 (25) 16,866 195
Restructuring charges 25 2,294 46 3,201
Amortization of other intangible assets 1,671 777 2,723 1,592
Other 5,483 3,839 9,704 8,036
Total non-interest expense 50,205 32,316 94,929 63,274
Income before income taxes 26,623 16,817 39,343 32,913
Income tax expense 9,219 6,076 14,140 11,922
Net income 17,404 10,741 25,203 20,991
Dividends on preferred stock 0 182 0 821
Net income available to common shareholders $ 17,404 $ 10,559 $ 25,203 $ 20,170
Net income per common share        
Basic (in dollars per share) $ 0.34 $ 0.33 $ 0.56 $ 0.64
Diluted (in dollars per share) $ 0.34 $ 0.33 $ 0.56 $ 0.64
Weighted average common shares outstanding        
Basic (in shares) 51,311,504 31,609,021 44,707,215 31,607,971
Diluted (in shares) 51,490,182 31,610,620 44,836,812 31,609,785