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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest income        
Loans, including fees $ 34,014 $ 26,782 $ 93,197 $ 73,810
Securities        
Taxable 4,473 4,009 13,055 10,488
Tax exempt 3,215 3,023 9,698 9,009
Other interest income 96 43 256 166
Total interest income 41,798 33,857 116,206 93,473
Interest expense        
Deposits 1,708 1,066 4,093 3,094
Federal Home Loan Bank advances 1,310 1,093 3,689 3,282
Subordinated debentures 539 355 1,419 1,051
Other borrowings 841 353 1,807 486
Total interest expense 4,398 2,867 11,008 7,913
Net interest income 37,400 30,990 105,198 85,560
Provision for loan losses 600 150 700 855
Net interest income after provision for loan losses 36,800 30,840 104,498 84,705
Non-interest income        
Service charges on deposit accounts 5,466 5,696 15,437 15,597
Interchange income 3,009 2,877 9,097 8,317
Mortgage banking 2,659 2,602 7,739 7,135
Trust and investment product fees 1,416 1,163 3,912 3,626
Increase in cash surrender value of life insurance 728 410 1,580 1,056
Net realized gains/(losses) on securities (includes $(9) and $13 accumulated other comprehensive income (AOCI) reclassifications for realized net gains on available for sale securities in 2017 and $23 and $144 in 2016 (9) 23 13 144
(Gain)/Loss on sale and write-down of OREO 44 67 226 253
Other income (288) 1,076 1,548 3,113
Total non-interest income 13,025 13,914 39,552 39,241
Non-interest expense        
Salaries and employee benefits 19,192 16,686 54,530 47,430
Net occupancy 2,830 2,412 7,927 6,877
Equipment 3,454 3,315 10,238 9,493
Intangibles amortization 599 302 1,399 999
Telecommunications 448 459 1,417 1,256
Stationery printing and supplies 316 263 944 809
FDIC assessment 334 395 1,023 1,250
Marketing 673 780 2,418 2,523
Collection expense 72 174 667 596
Prepayment penalty on FHLB advance     214  
Acquisition related expenses 3,037 601 8,613 6,964
Interchange expense 927 830 2,634 2,558
Other expenses 3,144 2,724 8,866 8,440
Total non-interest expense 35,026 28,941 100,890 89,195
Income before income tax 14,799 15,813 43,160 34,751
Income tax expense (includes $(3) and $5 income tax expense from AOCI reclassification items in 2017 and $8 and $50 in 2016) 3,683 4,117 10,317 8,172
Net income attributable to common shareholders $ 11,116 $ 11,696 $ 32,843 $ 26,579
Net income per common share:        
Basic $ 0.43 $ 0.49 $ 1.32 $ 1.17
Diluted 0.43 0.48 1.30 1.15
Dividend per share $ 0.17 $ 0.15 $ 0.50 $ 0.45