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Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest Income        
Loans $ 28,790 $ 19,022 $ 53,402 $ 34,805
Investment securities:        
Trading 1,489 1,448 2,478 2,824
Available for sale 1,625 1,022 3,167 1,916
Federal Home Loan Bank stock 81 79 210 160
Other 2,138 893 3,904 1,766
Total interest income 34,123 22,464 63,161 41,471
Interest Expense        
Deposits 9,741 4,740 16,757 8,511
Borrowed funds 2,176 2,000 4,090 3,705
Total interest expense 11,917 6,740 20,847 12,216
Net interest income 22,206 15,724 42,314 29,255
Provision for loan losses 998 240 2,404 480
Net Interest Income After Provision for Loan Losses 21,208 15,484 39,910 28,775
Non interest Income        
Gain on sale of loans 7,831 15,167 18,723 20,609
Loan servicing fees, net 2,555 395 2,233 2,384
Mortgage warehouse fees 684 662 1,170 1,258
Other income 560 402 817 466
Total noninterest income 11,630 16,626 22,943 24,717
Noninterest Expense        
Salaries and employee benefits 7,268 5,175 13,755 9,067
Loan expenses 1,302 1,069 2,258 1,953
Occupancy and equipment 761 398 1,326 754
Professional fees 677 315 1,165 530
Deposit insurance expense 236 210 482 474
Technology expense 293 261 584 506
Other expense 1,463 833 2,700 1,618
Total noninterest expense 12,000 8,261 22,270 14,902
Income Before Income Taxes 20,838 23,849 40,583 38,590
Provision for Income Taxes 5,186 9,091 9,870 14,702
Net Income 15,652 14,758 30,713 23,888
Dividends on Preferred Stock (832) (832) (1,665) (1,664)
Net Income allocated to Common Shareholders $ 14,820 $ 13,926 $ 29,048 $ 22,224
Basic earnings per share (in dollar per share) $ 0.52 $ 0.66 $ 1.01 $ 1.05
Diluted earnings per share (in dollar per share) $ 0.52 $ 0.66 $ 1.01 $ 1.05
Weighted-average shares outstanding Basic (in Shares) 28,692,749 21,114,400 28,691,857 21,114,400
Weighted-average shares outstanding Diluted (in Shares) 28,720,805 21,127,923 28,715,687 21,125,590
Dividends per share $ 0.06 $ 0.05 $ 0.12 $ 0.10