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CONSOLIDATED STATEMENT OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Loans:        
Taxable $ 30,254 $ 26,777 $ 58,327 $ 49,694
Tax exempt 323 322 640 645
Loans held for sale 720 919 1,489 1,543
Investment securities:        
Taxable 1,560 2,710 2,799 5,456
Tax exempt 945 926 1,857 1,847
Nonmarketable equity securities 239 174 457 330
Federal funds sold and cash investments 487 287 798 567
Total interest income 34,528 32,115 66,367 60,082
Interest expense:        
Deposits 2,807 2,290 5,193 4,512
Short-term borrowings 82 68 162 136
FHLB advances and other borrowings 841 256 1,407 392
Subordinated debt 873 1,054 1,746 2,112
Trust preferred debentures 525 458 998 901
Total interest expense 5,128 4,126 9,506 8,053
Net interest income 29,400 27,989 56,861 52,029
Provision for loan losses 458 629 1,991 1,754
Net interest income after provision for loan losses 28,942 27,360 54,870 50,275
Noninterest income:        
Commercial FHA revenue 4,153 8,538 10,848 15,100
Residential mortgage banking revenue 2,330 1,037 5,246 2,158
Wealth management revenue 3,406 1,870 6,279 3,655
Service charges on deposit accounts 1,122 965 2,014 1,872
Interchange revenue 1,114 945 2,092 1,909
FDIC loss-sharing expense   (1,608)   (1,661)
Gain on sales of investment securities, net 55 72 122 276
Other-than-temporary impairment on investment securities       (824)
(Loss) gain on sales of other real estate owned (4) 83 32 79
Other income 1,443 2,114 3,328 4,071
Total noninterest income 13,619 14,016 29,961 26,635
Noninterest expense:        
Salaries and employee benefits 21,842 17,012 38,957 32,399
Occupancy and equipment 3,472 3,233 6,655 6,544
Data processing 2,949 2,624 5,746 5,244
FDIC insurance 468 498 838 962
Professional 3,142 1,573 6,134 3,274
Marketing 804 649 1,446 1,292
Communications 386 547 932 1,063
Loan expense 482 552 902 1,037
Other real estate owned 167 417 579 569
Amortization of intangible assets 579 519 1,104 1,099
Other expense 3,354 3,280 5,149 5,059
Total noninterest expense 37,645 30,904 68,442 58,542
Income before income taxes 4,916 10,472 16,389 18,368
Income taxes 1,377 3,683 4,360 6,460
Net income 3,539 6,789 12,029 11,908
Preferred stock dividends 19   19  
Net income available to common shareholders $ 3,520 $ 6,789 $ 12,010 $ 11,908
Per common share data:        
Basic earnings per common share $ 0.21 $ 0.51 $ 0.73 $ 0.94
Diluted earnings per common share $ 0.20 $ 0.50 $ 0.71 $ 0.92
Weighted average common shares outstanding 16,803,724 13,358,289 16,272,929 12,657,552
Weighted average diluted common shares outstanding 17,320,089 13,635,074 16,838,416 12,936,995