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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest income        
Loans $ 23,887 $ 18,305 $ 47,803 $ 36,668
Investment securities - taxable 459 143 696 266
Investment securities - tax exempt 5,644 6,021 11,509 11,979
Mortgage-backed securities 7,666 7,557 16,128 15,239
FHLB stock and other investments 65 38 158 108
Other interest earning assets 29 22 63 65
Total interest income 37,750 32,086 76,357 64,325
Interest expense        
Deposits 2,493 1,984 5,022 4,100
Short-term obligations 154 56 296 127
Long-term obligations 2,198 2,190 4,343 4,350
Total interest expense 4,845 4,230 9,661 8,577
Net interest income 32,905 27,856 66,696 55,748
Provision for loan losses 268 2,650 4,116 6,783
Net interest income after provision for loan losses 32,637 25,206 62,580 48,965
Noninterest income        
Deposit services 4,920 3,794 9,909 7,432
Net gain on sale of securities available for sale 105 498 2,581 509
Gain on sale of loans 822 81 1,199 161
Trust income 820 762 1,713 1,542
Bank owned life insurance income 653 307 1,322 621
Other 1,099 1,073 2,743 2,056
Total noninterest income 8,419 6,515 19,467 12,321
Noninterest expense        
Salaries and employee benefits 16,869 13,092 35,068 26,194
Occupancy expense 2,593 1,786 6,052 3,540
Advertising, travel & entertainment 683 605 1,340 1,148
ATM and debit card expense 750 302 1,429 619
Professional fees 793 1,304 1,535 2,231
Software and data processing expense 1,237 486 2,268 987
Telephone and communications 603 320 1,072 598
FDIC insurance 629 434 1,267 882
Other 3,768 2,097 7,603 4,409
Total noninterest expense 27,925 20,426 57,634 40,608
Income before income tax expense 13,131 11,295 24,413 20,678
Income tax expense 1,967 838 3,870 1,997
Net income $ 11,164 $ 10,457 $ 20,543 $ 18,681
Earnings per common share - basic (in dollars per share) $ 0.44 $ 0.53 $ 0.81 $ 0.94
Earnings per common share - diluted (in dollars per share) 0.44 0.53 0.81 0.94
Dividends paid on common stock (in dollars per shares) $ 0.23 $ 0.21 $ 0.46 $ 0.42