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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest and dividend income:        
Interest and fees on loans $ 34,411 $ 30,071 $ 66,174 $ 63,027
Interest and dividends on investment securities 6,489 7,759 13,102 15,994
Dividends on non-marketable securities 218 193 385 421
Interest on interest-bearing bank deposits 214 449 411 584
Total interest and dividend income 41,332 38,472 80,072 80,026
Interest expense:        
Interest on deposits 3,904 3,516 7,691 6,826
Interest on borrowings 536 203 767 409
Total interest expense 4,440 3,719 8,458 7,235
Net interest income before provision for loan losses 36,892 34,753 71,614 72,791
Provision for loan losses 4,025 6,457 5,820 17,076
Net interest income after provision for loan losses 32,867 28,296 65,794 55,715
Non-interest income:        
Service charges 3,546 3,465 6,872 6,725
Bank card fees 3,134 2,935 5,938 5,702
Gain on sale of mortgages, net 594 958 1,048 1,432
Bank-owned life insurance income 472 486 942 881
Other non-interest income 4,124 2,473 5,538 3,164
OREO related write-ups and other income 86 187 314 523
Total non-interest income 11,956 10,504 20,652 18,427
Non-interest expense:        
Salaries and benefits 19,909 19,612 40,299 40,224
Occupancy and equipment 5,242 5,708 10,679 11,774
Telecommunications and data processing 1,552 1,471 3,139 3,112
Marketing and business development 545 689 1,196 1,115
FDIC deposit insurance 686 1,064 1,391 1,985
Bank card expenses 896 963 1,779 1,876
Professional fees 1,270 978 1,686 1,434
Other non-interest expense 2,733 2,112 5,139 4,067
Problem asset workout 880 958 1,752 1,932
Gain on OREO sales, net (1,644) (1,611) (1,756) (2,043)
Intangible asset amortization 1,370 1,370 2,740 2,740
Total non-interest expense 33,439 33,314 68,044 68,216
Income before income taxes 11,384 5,486 18,402 5,926
Income tax expense 2,175 982 935 1,171
Net income $ 9,209 $ 4,504 $ 17,467 $ 4,755
Income per share-basic (in dollars per share) $ 0.34 $ 0.15 $ 0.65 $ 0.16
Income per share-diluted (in dollars per share) $ 0.33 $ 0.15 $ 0.63 $ 0.16
Weighted average number of common shares outstanding:        
Basic (Shares) 26,955,187 29,215,822 26,878,904 29,666,570
Diluted (Shares) 27,597,443 29,278,759 27,637,532 29,707,379