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CONSOLIDATED STATEMENTS OF OPERATIONS - 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 and leases $ 29,181 $ 18,254 $ 57,577 $ 37,253
Interest on taxable securities 3,703 3,545 7,493 7,180
Interest on tax-exempt securities 151 178 284 357
Other interest and dividend income 280 78 449 142
Total interest and dividend income 33,315 22,055 65,803 44,932
INTEREST EXPENSE        
Deposits 1,923 1,065 3,406 2,218
Federal Home Loan Bank advances 772 93 1,432 171
Subordinated debentures and other borrowings 809 516 1,616 1,042
Total interest expense 3,504 1,674 6,454 3,431
Net interest income 29,811 20,381 59,349 41,501
PROVISION FOR LOAN AND LEASE LOSSES 3,515 1,152 5,406 3,665
Net interest income after provision for loan and lease losses 26,296 19,229 53,943 37,836
NON-INTEREST INCOME        
Fees and service charges on deposits 1,348 1,373 2,567 2,762
Servicing fees 1,076   1,995  
ATM and interchange fees 1,499 1,514 2,847 2,922
Net gains on sales of securities available-for-sale   1,506 8 2,429
Net gains on sales of loans 8,445 21 16,527 21
Fees on mortgage loan sales, net   35 2 55
Other non-interest income 825 1,749 1,555 2,297
Total non-interest income 13,193 6,198 25,501 10,486
NON-INTEREST EXPENSE        
Salaries and employee benefits 17,226 11,000 33,828 22,940
Occupancy expense, net 3,485 3,759 7,224 7,561
Equipment expense 616 468 1,179 1,003
Loan and lease related expenses 801 186 1,678 647
Legal, audit and other professional fees 1,090 1,727 2,761 2,720
Data processing 2,447 1,950 4,856 3,770
Net (gain) loss recognized on other real estate owned and other related expenses 141 195 (429) 1,094
Regulatory assessments 384 578 568 1,428
Other intangible assets amortization expense 769 748 1,538 1,495
Advertising and promotions 318 63 607 298
Telecommunications 396 456 814 914
Other non-interest expense 1,576 1,687 3,476 3,434
Total non-interest expense 29,249 22,817 58,100 47,304
INCOME BEFORE PROVISION FOR INCOME TAXES 10,240 2,610 21,344 1,018
PROVISION (BENEFIT) FOR INCOME TAXES 4,094 9 8,638 (231)
NET INCOME 6,146 2,601 12,706 1,249
Dividends on preferred shares 10,697   10,886  
INCOME (LOSS) AVAILABLE (ATTRIBUTABLE) TO COMMON STOCKHOLDERS $ (4,551) $ 2,601 $ 1,820 $ 1,249
EARNINGS (LOSS) PER COMMON SHARE        
Basic $ (0.18) $ 0.13 $ 0.07 $ 0.07
Diluted $ (0.18) $ 0.13 $ 0.07 $ 0.07
Weighted average common shares outstanding for basic earnings (loss) per common share 24,667,587 19,487,778 24,642,287 18,505,002
Diluted weighted average common shares outstanding for diluted earnings (loss) per common share 24,667,587 19,741,850 25,106,887 18,759,074