XML 86 R4.htm IDEA: XBRL DOCUMENT v3.19.3
Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income:        
Loans receivable $ 53,594 $ 48,585 $ 157,563 $ 138,291
Debt securities available for sale and equity securities 7,736 6,651 23,295 17,987
Debt securities held to maturity 2,068 1,798 6,090 5,253
Federal funds and interest earning deposits 182 44 405 1,116
Federal Home Loan Bank stock dividends 858 617 2,704 1,861
Total interest income 64,438 57,695 190,057 164,508
Interest expense:        
Deposits 16,055 10,420 44,984 27,713
Borrowings 6,667 6,692 20,130 16,134
Total interest expense 22,722 17,112 65,114 43,847
Net interest income 41,716 40,583 124,943 120,661
Provision for loan losses 1,157 1,500 1,705 5,900
Net interest income after provision for loan losses 40,559 39,083 123,238 114,761
Non-interest income:        
Bank-owned life insurance 1,784 1,309 4,449 3,865
Loan fees and service charges 3,038 616 5,358 1,537
Gain on securities transactions 1,256 0 1,721 116
(Decrease)/increase in fair value of equity securities (59) 0 189 0
Gain on sale of loans 382 0 710 15
Other non-interest income 1,258 1,176 3,895 3,609
Total non-interest income 10,115 5,290 22,928 15,280
Non-interest expense:        
Compensation and employee benefits 21,362 18,179 61,285 54,503
Occupancy 3,973 3,529 11,628 10,764
Federal deposit insurance premiums 40 503 927 1,404
Advertising 533 1,003 3,311 3,142
Professional fees 1,541 967 4,219 2,824
Data processing 658 630 1,965 1,944
Charitable contribution to foundation 0 0 0 34,767
Merger-related expenses 740 0 1,202 0
Other non-interest expense 2,217 1,779 7,927 5,024
Total non-interest expense 31,064 26,590 92,464 114,372
Income before income tax expense 19,610 17,783 53,702 15,669
Income tax expense 5,392 6,956 12,534 7,800
Net income $ 14,218 $ 10,827 $ 41,168 $ 7,869
Earnings per share - basic and diluted (in dollars per share) $ 0.13 $ 0.10 $ 0.37 $ 0.07
Weighted average shares outstanding - basic and diluted (in shares) 111,371,754 111,389,951 111,486,179 111,380,218
Demand deposit account fees        
Non-interest income:        
Revenue from contract with customer $ 1,106 $ 1,000 $ 3,116 $ 2,920
Title insurance fees        
Non-interest income:        
Revenue from contract with customer $ 1,350 $ 1,189 $ 3,490 $ 3,218