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Condensed consolidated statements of income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest income:        
Interest and fees on loans $ 26,550 $ 22,800 $ 77,740 $ 64,103
Interest on securities        
Taxable 2,402 2,793 8,296 8,675
Tax-exempt 875 685 2,425 2,123
Other 178 106 466 329
Total interest income 30,005 26,384 88,927 75,230
Deposits        
Demand and savings accounts 1,340 1,197 4,026 3,415
Time deposits 575 364 1,378 1,253
Short-term borrowings 13 214 101 543
Long-term debt 460 474 1,504 1,443
Total interest expense 2,388 2,249 7,009 6,654
Net interest income 27,617 24,135 81,918 68,576
Provision for loan losses 71 (1,159) (727) (937)
Net interest income after provision for loan losses 27,546 25,294 82,645 69,513
Noninterest income:        
Mortgage banking income 36,938 19,794 91,574 51,081
Service charges on deposit accounts 1,870 1,876 6,129 5,240
ATM and interchange fees 1,814 1,572 5,756 4,510
Investment services income 857 800 2,508 2,464
Bargain purchase gain   2,794   2,794
Gain on sale of securities 416 47 4,407 1,842
Gain (loss) on sales or write-downs of foreclosed assets 1,646 (105) 1,504 (43)
Gain (loss) on other assets 7 5 24 (380)
Other income 414 265 1,451 763
Total noninterest income 43,962 27,048 113,353 68,271
Noninterest expenses:        
Salaries, commissions and employee benefits 34,010 22,151 84,486 61,111
Occupancy and equipment expense 3,171 2,741 9,567 7,892
Legal and professional fees 816 1,252 2,704 2,394
Data processing 1,294 511 2,691 1,520
Merger and conversion 1,122 291 3,268 578
Amortization of core deposit intangibles 526 415 1,605 1,221
Amortization of mortgage servicing rights 2,796 764 6,221 1,543
Impairment of mortgage servicing rights 2,402   8,089  
Regulatory fees and deposit insurance assessments 465 550 1,481 1,465
Software license and maintenance fees 503 559 2,361 1,410
Advertising 2,220 2,305 8,071 5,875
Other expense 6,204 4,040 16,927 11,603
Total noninterest expense 55,529 35,579 147,471 96,612
Income before income taxes 15,979 16,763 48,527 41,172
Income tax expense (Note 7) 14,772 858 16,946 2,507
Net income $ 1,207 $ 15,905 $ 31,581 $ 38,665
Weighted average common shares outstanding:        
Basic 18,259,128 17,180,000 17,542,335 17,180,000
Fully diluted 18,332,192 17,180,000 17,566,867 17,180,000
Earnings per share        
Basic $ 0.07 $ 0.93 $ 1.80 $ 2.25
Fully diluted $ 0.07 $ 0.93 $ 1.80 $ 2.25
Pro Forma (C Corporation basis) (Note 7):        
Income tax expense $ 5,946 $ 5,180 $ 18,115 $ 14,143
Net income $ 10,033 $ 11,583 $ 30,412 $ 27,029
Earnings per share        
Basic $ 0.55 $ 0.67 $ 1.73 $ 1.57
Fully diluted $ 0.55 $ 0.67 $ 1.73 $ 1.57