XML 14 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Interest and dividend income:    
Interest and fees on loans $ 45,280,000 $ 31,763,000
Interest and dividends on investment securities 6,526,000 6,613,000
Dividends on non-marketable securities 244,000 167,000
Interest on interest-bearing bank deposits 741,000 197,000
Total interest and dividend income 52,791,000 38,740,000
Interest expense:    
Interest on deposits 4,634,000 3,787,000
Interest on borrowings 510,000 231,000
Total interest expense 5,144,000 4,018,000
Net interest income before provision for loan losses 47,647,000 34,722,000
Provision for loan losses 41,000 1,795,000
Net interest income after provision for loan losses 47,606,000 32,927,000
Non-interest income:    
Service charges 4,510,000 3,326,000
Bank card fees 3,362,000 2,804,000
Gain on sale of mortgages, net 7,971,000 454,000
Bank-owned life insurance income 452,000 470,000
Other non-interest income 1,150,000 1,414,000
OREO related income 390,000 228,000
Total non-interest income 17,835,000 8,696,000
Non-interest expense:    
Salaries and benefits 30,672,000 20,390,000
Occupancy and equipment 7,955,000 5,437,000
Telecommunications and data processing 4,366,000 1,587,000
Marketing and business development 1,224,000 651,000
FDIC deposit insurance 753,000 705,000
Bank card expenses 2,136,000 883,000
Professional fees 2,819,000 416,000
Other non-interest expense 3,845,000 2,406,000
Problem asset workout 781,000 872,000
Gain on OREO sales, net 78,000 (112,000)
Intangible asset amortization 653,000 1,370,000
Total non-interest expense 55,282,000 34,605,000
Income before income taxes 10,159,000 7,018,000
Income tax expense 1,695,000 (1,240,000)
Net income $ 8,464,000 $ 8,258,000
Income per share-basic (in dollars per share) $ 0.28 $ 0.31
Income per share-diluted (in dollars per share) $ 0.27 $ 0.30
Weighted average number of common shares outstanding:    
Basic (Shares) 30,493,689 26,801,773
Diluted (Shares) 31,143,528 27,680,029