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Condensed Consolidated Statements of Income - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest Income        
Loans $ 52,779,000 $ 32,056,000 $ 129,599,000 $ 85,458,000
Investment securities:        
Trading 1,422,000 1,299,000 4,434,000 3,777,000
Available for sale - taxable 1,604,000 1,541,000 4,632,000 4,708,000
Available for sale - tax exempt 68,000   217,000  
Federal Home Loan Bank stock 262,000 87,000 742,000 297,000
Other 3,626,000 2,594,000 8,572,000 6,498,000
Total interest income 59,761,000 37,577,000 148,196,000 100,738,000
Interest Expense        
Deposits 26,039,000 11,670,000 59,610,000 28,427,000
Borrowed funds 1,098,000 2,425,000 3,909,000 6,515,000
Total interest expense 27,137,000 14,095,000 63,519,000 34,942,000
Net Interest Income 32,624,000 23,482,000 84,677,000 65,796,000
Provision for loan losses 1,193,000 617,000 1,947,000 3,021,000
Net Interest Income After Provision for Loan Losses 31,431,000 22,865,000 82,730,000 62,775,000
Noninterest Income        
Gain on sale of loans 8,312,000 8,825,000 20,059,000 27,548,000
Loan servicing fees, net (1,410,000) 1,851,000 (3,318,000) 4,084,000
Mortgage warehouse fees 2,699,000 778,000 4,590,000 1,948,000
Gains/(losses) on sale of investments available for sale (includes $0, $0, $124, and $0, respectively, related to accumulated other comprehensive earnings reclassifications)     124,000  
Other income 1,251,000 453,000 2,931,000 1,270,000
Total noninterest income 10,852,000 11,907,000 24,386,000 34,850,000
Noninterest Expense        
Salaries and employee benefits 9,139,000 7,842,000 27,671,000 21,597,000
Loan expenses 1,248,000 1,254,000 3,527,000 3,512,000
Occupancy and equipment 994,000 736,000 2,816,000 2,062,000
Professional fees 508,000 590,000 1,500,000 1,755,000
Deposit insurance expense 859,000 269,000 1,354,000 751,000
Technology expense 674,000 412,000 1,775,000 996,000
Other expense 2,100,000 1,346,000 5,834,000 4,046,000
Total noninterest expense 15,522,000 12,449,000 44,477,000 34,719,000
Income Before Income Taxes 26,761,000 22,323,000 62,639,000 62,906,000
Provision for income taxes (includes $0, $0, $(31) and $0, respectively, related to income tax (expense)/benefit for reclassification items) 6,502,000 5,584,000 15,371,000 15,454,000
Net Income 20,259,000 16,739,000 47,268,000 47,452,000
Dividends on preferred stock (3,022,000) (833,000) (5,598,000) (2,498,000)
Net Income Allocated to Common Shareholders $ 17,237,000 $ 15,906,000 $ 41,670,000 $ 44,954,000
Basic Earnings Per Share (in dollar per share) $ 0.60 $ 0.55 $ 1.45 $ 1.57
Diluted Earnings Per Share (in dollar per share) $ 0.60 $ 0.55 $ 1.45 $ 1.57
Weighted-Average Shares Outstanding Basic (in Shares) 28,706,438 28,694,036 28,704,682 28,692,591
Weighted-Average Shares Outstanding Diluted (in Shares) 28,744,953 28,727,822 28,742,911 28,719,740