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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest income        
Loans, including fees $ 31,431 $ 24,557 $ 59,183 $ 47,028
Securities        
Taxable 4,406 3,232 8,582 6,479
Tax exempt 3,271 3,000 6,483 5,986
Other interest income 94 81 160 123
Total interest income 39,202 30,870 74,408 59,616
Interest expense        
Deposits 1,415 1,110 2,385 2,028
Federal Home Loan Bank advances 1,305 1,089 2,379 2,189
Subordinated debentures 499 353 880 696
Other borrowings 472 120 966 133
Total interest expense 3,691 2,672 6,610 5,046
Net interest income 35,511 28,198 67,798 54,570
Provision for loan losses 100 205 100 705
Net interest income after provision for loan losses 35,411 27,993 67,698 53,865
Non-interest income        
Service charges on deposit accounts 5,180 5,219 9,971 9,901
Interchange income 3,034 2,805 6,088 5,440
Mortgage banking 2,688 2,743 5,080 4,533
Trust and investment product fees 1,299 1,253 2,496 2,463
Increase in cash surrender value of life insurance 447 344 852 646
Net realized gains on securities (includes $9 and $22 accumulated other comprehensive income (AOCI) reclassifications for realized net gains on available for sale securities in 2017 and $104 and $121 in 2016 9 104 22 121
(Gain)/Loss on sale and write-down of OREO 60 37 182 186
Other income 814 1,233 1,836 2,037
Total non-interest income 13,531 13,738 26,527 25,327
Non-interest expense        
Salaries and employee benefits 17,621 15,884 35,338 30,744
Net occupancy 2,668 2,204 5,097 4,465
Equipment 3,400 3,115 6,784 6,178
Intangibles amortization 496 369 800 697
Telecommunications 598 428 969 797
Stationery printing and supplies 329 239 628 546
FDIC assessment 365 435 689 855
Marketing 980 1,089 1,745 1,743
Collection expense 364 170 595 422
Interchange expense 910 915 1,707 1,728
Prepayment penalty on FHLB advance 214   214  
Acquisition related expenses 5,576 6,363 5,576 6,363
Other expenses 2,914 2,886 5,722 5,716
Total non-interest expense 36,435 34,097 65,864 60,254
Income before income tax 12,507 7,634 28,361 18,938
Income tax expense (includes $3 and $8 income tax expense from AOCI reclassification items in 2017 and $36 and $42 in 2016) 2,853 1,517 6,634 4,055
Net income attributable to common shareholders $ 9,654 $ 6,117 $ 21,727 $ 14,883
Net income per common share:        
Basic $ 0.38 $ 0.27 $ 0.88 $ 0.67
Diluted 0.38 0.27 0.87 0.66
Dividend per share $ 0.17 $ 0.15 $ 0.33 $ 0.30